Roofing Chemicals Market Will Reach USD 160 Billion by 2026

According to the Facts and Factors, Research Report, the global Roofing Chemicals Market market in 2019 was approximately USD 115 Billion. The market is expected to grow at a CAGR of 7% and is anticipated to reach around USD 160 Billion by 2026.

A roof is a top covering of any building that consists of various types of materials that are used to provide protection against external factors like rain, sunlight, snow, and wind. Roofing chemical material is the outermost layer on the roof of the building that makes the roof of the building waterproof and prevents the water from seeping inside the constructed structure. These chemicals enhance the performance of the roofing system and help in maintaining the temperature inside the structure and making it idle for usage for multiple purposes.

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With the growing population across the globe, there is a rising demand for residential and commercial construction around the world is helping in the growth of the roofing chemicals market. The increasing demand for strong and robust materials that are used in the construction industry, the changing lifestyle of the people and more growing trend of sustainable living are some other factors that are escalating the demand for roofing chemicals market. Other factors such as easy-to-use, non-combustible, and lightweight are some other valuable factors that are accelerating the demand for the roofing chemicals market. However, the high manufacturing cost, its implementation, and installation of roofing chemicals market are proving to create obstacles in the growth of the roofing chemicals market. Another reason such as the use of synthetic chemical-based roofing materials that cause toxic effects on the environment are proving restrains in the growth of the roofing chemicals market. Nevertheless, the growing innovations related to bio-based roofing chemicals that leave less carbon footprint offers various opportunities for the growth of the roofing chemicals market.

The major players in the Roofing Chemicals market are as follows:

BASF SE
The Dow Chemical Company
E. I. du Pont de Nemours and Company
Saint-Gobain S.A.
Eastman Chemical Company
3M Company
Owens Corning
Akzo Nobel N.V
Sika AG
Others

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On the basis of type segment, the roofing chemical market is divided into Acrylic resin, Asphalt/ Bituminous, Elastomer, Epoxy resin, Styrene. The Asphalt/ Bituminous roofing material is expected to dominate the market owing to its high tensile strength, improved textures of the surface, and good price to performance value. The bituminous roofing material is black, sticky and highly viscous chemical that is widely used for coating and is used in manufacturing bituminous shingles. On the basis of the application segment, the roofing chemical market is divided into Bituminous roofing, Membrane Roofing, Metal roofing, Plastic (PVC) roofing, and Elastomeric roofing. The Bituminous roofing is expected to show propel the market over the forecasted period as it is mainly used in the construction of industrial and commercial buildings like warehouses, storehouses, and factory sheds because of the growing industrialization across the globe.

As per the regional analysis, the roofing chemicals market is expected to show a tremendous growth in the Asia Pacific region owing to the high economic growth potential among the countries, the rising demand for residential and infrastructural development activities, the displacing population from rural to urban cities for better job and lifestyle opportunities and the rising population.

Roofing chemical material is the outermost layer on the roof of the building, which makes the roof of the building waterproof and prevents water from leaking into the built structure. With the rising population around the globe, there is an increasing demand for residential and commercial construction around the world that helps to increase the market for roofing chemicals. The use of synthetic chemical-based roofing materials that have harmful effects on the environment is proving to be a constraint on the growth of the roofing chemical industry. Growing developments related to bio-based roofing chemicals that leave less carbon footprint provide a range of opportunities for the growth of the roofing chemicals industry.

The Roofing Chemicals market research report delivers an acute valuation and taxonomy of the Roofing Chemicals industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Roofing Chemicals industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Roofing Chemicals industry is provided for the leading economies of the world.

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This report segments the Roofing Chemicals Market market as follows:

Global Roofing Chemicals Market Market: By Type Segmentation Analysis

Acrylic resin
Asphalt/ Bituminous
Elastomer
Epoxy resin
Styrene

Global Roofing Chemicals Market Market: By Application Segmentation Analysis

Membrane roofing
Elastomeric roofing
Bituminous roofing
Metal roofing
Plastic (PVC) roofing

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