Press release
Asphalt Roof Coatings Market: Latest Future Trends and Forecast Analysis up to 2026
A number of factors are driving the market onto a higher growth trajectory. One of the most important growth factors is massive growth in the construction industry in the next 10 years. By 2030, there would be an 85% increase in construction volumes. This would translate to a USD 15.5 trillion. Of this growth, a large chunk of 57% will be accounted for by only three countries - India, China and the United States.
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It is only natural, considering by 2050, there would be an addition of some 2 billion people in the world who will need both residential and commercial space to live.
Growing consumer interest in asphalt shingles in the North American and European regions owing to their favorable properties is leading to growth in the two regions. Another region that will generate untapped opportunities for market players is the Asia Pacific (APAC) region, having a large consumer base and rising construction activity.
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The market landscape is fragmented and prominent names in the landscape include Dow Corning Corporation, Henry Company, Aluminum Coatings Manufacturers, and Acrymax Technologies, Inc. The players often resort to a number of strategies in order to have a firm grasp on the market share. While some go for mergers and acquisitions, others explore synergies in strategic partnerships and collaborations. Besides, there is always the element of constantly working towards improving the product. And, here comes in the part of research and development and product innovation.
Asphalt roof coatings are susceptible to degradation under UV radiation. Asphalt-based roofs absorb UV radiation causing breakage of polymer coating. Hence, manufacturers have installed acrylic polymers on asphalt roofing to protect asphalt roof coatings from UV radiation. Acrylic, being transparent, does not absorb any radiation and reflect most of the radiation into the atmosphere leading to high lifecycle of asphalt roof coatings.
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