NEW YORK, April 18, 2022 /PRNewswire/ — The “Roofing Chemicals Market by Product (Asphalt, Acrylic resin, Epoxy resin, Elastomer, and Others) and Geography (APAC, NorthAmerica, Europe, South Americaand the Middle East other Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 47% of the market’s growth will originate from APAC During the forecast period. China and India are the key markets for roofing chemicals in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing building and construction industry, rapid industrialization, urbanization, and the increasing population will facilitate the roofing chemicals market growth in APAC over the forecast period.
Attractive Opportunities in Roofing Chemicals Market by Product and Geography – Forecast and Analysis 2022-2026
The potential growth difference for the roofing chemicals market between 2021 and 2026 is USD 50.63 billion. To get the exact yearly growth variance and the YOY growth rate, talk to our analyst.
Key Market Dynamics:
Market Driver – The key factors driving the global roofing chemicals industry growth is the growing need for thermal management in buildings due to the rising sustainable living standards and growing middle-class population. The use of roofing chemicals on the rooftops reduces energy consumption by keeping the temperature low and results in reduced carbon emissions. Reflective roof chemicals shield the roofing materials from UV light also. Roofing chemicals can extend the lifespan of roofs, reduce cooling energy costs by 20% to 70%, and can also reduce air pollution. The necessity for cool non-white coatings arose as dark colors absorb more heat and are also aesthetically more appealing. The rising development of dark color coatings with special pigments that reflect solar radiation will help drive the demand for roofing chemicals during the forecast period.
Market Challenges – The key challenges to the global roofing chemicals industry’s growth is the fluctuations in crude oil prices. As most of the roofing chemicals, including asphalt/bitumen, epoxy resins, and acrylic resins, are derived from petrochemicals, the fluctuations in the crude oil prices create a supply-demand imbalance. The fluctuating crude oil prices have a direct impact on the demand and supply of raw materials for manufacturing roofing chemicals. Due to the overproduction of oil by some members of the Organization of Petroleum Exporting Countries (OPEC), there has been an imbalance in the global demand-supply of oil. Moreover, the growing tensions arising out of Russia’s attack on Ukraine have led to a sharp spike in crude oil prices. the Ukraine government assured that it is closely monitoring global energy markets and potential supply disruptions and is ready to ensure supplies at stable prices. These fluctuations in crude oil prices are expected to hamper the growth of the global roofing chemicals market during the forecast period.
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The roofing chemicals market report is segmented by Product (Asphalt, Acrylic resin, Epoxy resin, Elastomer, and Others) and Geography (APAC, NorthAmerica, Europe, South Americaand the Middle East other Africa).
The roofing chemicals market share growth in the asphalt segment will be significant for revenue generation. The growth is attributed to the wide application of asphalt/bituminous as a construction material in road construction, asphalt concrete, and waterproofing products. Bituminous roofing offers longevity-centric options when used on flat roofs as it is tear-resistant, waterproof, energy-efficient, flexible, and easy to repair and maintain.
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Some Companies Mentioned
The roofing chemicals market is concentrated and the vendors are deploying growth strategies such as joint ventures, M&A, and partnerships to compete in the market.
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Roofing Chemicals Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.57%
Market growth 2022-2026
USD 50.63 billion
YoY growth (%)
Performing market contribution
APAC at 47%
Leading companies, competitive strategies, consumer engagement scope
Akzo Nobel NV, 3M Corp., Atlas Roofing Corp., BASF SE, Berkshire Hathaway Inc., CICO Group, Compagnie de Saint Gobain SA, DuPont de Nemours Inc., Eastman Chemical Co., GAF Materials LLC, Henry Co., Industrial Foams Pvt. Ltd., LafargeHolcim Ltd., National Coatings Corp., NovaTuff Coatings, Owens Corning, PPG Industries Inc., Sika AG, SOPREMA SAS, and The Dow Chemical Co.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.
Key topics covered:
1 executive summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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