PUNE, India, November 21, 2016 /PRNewswire/ --
The report "Roofing Chemicals Market by Type (Acrylic Resin, Asphalt/Bituminous, Elastomer, Epoxy Resin, and Styrene), Application (Membrane, Elastomeric, Bituminous, Metal, and Plastic Roofing Materials) - Global Forecast to 2021", published by MarketsandMarkets, the global market is projected to be valued at USD 106.83 Billion by 2021, at a CAGR of 7.3% from 2016 to 2021.
Browse 105 market data Tables and 57 Figures spread through 172 Pages and in-depth TOC on "Roofing Chemicals Market"
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This growth is driven by the high demand from the construction sector and the increasing global demand for roofing chemicals in the Asia-Pacific, North American, and European regions. Roofing chemicals are preferred for their various properties such as high reflectivity which enables the maintenance of lower temperatures inside buildings.
Asphalt/Bituminous: The most-widely used type of roofing chemical
Asphalt/Bituminous roll roofing or membrane is a roofing material commonly used for buildings. The material is based on the same materials used in asphalt shingles. The asphalt/bituminous is the most-widely used type of roofing chemical. Asphalt has a proven track record of performance, with wide choice in top-surfacing, good insulation, reduced permanent deformation, reduced flushing, improved texture and longevity properties. Competitive cost, low crack formation, and flexibility are the main characteristics of asphalt roofing which drives the demand for asphalt. Asphalt roofing's are also a part of fire, wind and hail resistant roof systems.
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Bituminous Roofing: The largest application of roofing chemicals
Bituminous roofs are generally considered for their rigidness and long life. Bituminous roofs have the capability to last through the duration of any housing structure. They can be used with conventional shingles, which makes them suitable for quick installation. Bituminous mixed with rubber can also be used in roofing systems. The main reason for using bituminous rubber is that, it has significantly improved engineering properties over conventional grade bitumen.
Asia-Pacific: The largest market for roofing chemicals
The Asia-Pacific region is the largest market in the global Roofing Chemicals Market, in terms of value, and this trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, and Australia and New Zealand are witnessing an increase in the use of roofing chemicals in residential and commercial buildings in the construction industry. This growth is chiefly due to the high economic growth and growing population that is driving the demand for roofing chemicals for residential and commercial buildings. India is the fastest-growing market for roofing chemicals and this trend is expected to continue till 2021.
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The roofing chemicals market has many global players competing for market shares. These companies are actively investing in various strategies such as, new product developments, acquisitions, and expansion projects globally, to further increase their market shares. Major manufacturers such as BASF SE (Germany), The Dow Chemical Company (U.S), Saint-Gobain S.A. (France), 3M Company (U.S), Akzo Nobel N.V (The Netherlands), Sika AG (Switzerland), and others have adopted various organic and inorganic developmental strategies in the Asia-Pacific region to expand their businesses in the region.
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