Research Investigates the Roofing Chemicals Market Robust Expansion Is Expected To 2033 As Revealed In New Report

The global roofing chemicals market is witnessing significant growth, driven by factors such as innovations in chemical formulations and increasing demand for energy-efficient roofing solutions. According to a report by Allied Market Research, the market was valued at $42.3 billion in 2023 and is projected to reach $69.4 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A51875

Key Drivers and Opportunities

Growth Drivers:

- Innovations in roofing chemical formulations are improving performance and durability.
- Surge in construction and renovation activities is boosting the demand for roofing chemicals.
- The growing emphasis on energy-efficient solutions and the development of cool roofing options are further supporting market expansion.

Restraints:

- Environmental and health concerns surrounding certain roofing chemicals may hinder market growth.

Opportunities:

- The rise of green building practices and the development of cool roofing solutions present lucrative growth opportunities for the market.

Market Segmentation Analysis

By Material Type:

- Asphalt is the dominant material, holding a significant market share due to its widespread use in manufacturing roofing shingles.

- The Others segment, which includes materials like polyurethane, PVC, and TPO, is expected to grow at the fastest rate (CAGR of 6.1%) over the forecast period.

By Roofing Type:

- Bituminous roofing, primarily made from asphalt, led the market in 2023 and is expected to maintain its dominance due to its waterproofing and weatherproofing properties.
The Others segment, including slate and composite roofing, is anticipated to grow at a CAGR of 6.4%.

By Construction Type:

- The new construction segment held the largest market share in 2023, driven by the increased need for adhesives and sealants in roofing installations. This segment is expected to maintain its lead throughout the forecast period.

- The re-roofing segment, which includes repair and replacement roofing activities, is projected to grow at CAGR of 5.6%.

By End-Use:

- The residential sector accounted for more than half of the market revenue in 2023 and is expected to remain dominant throughout the forecast period.

- The non-residential segment, including commercial and industrial buildings, is expected to grow at a CAGR of 5.3%.

Regional Insights

- Asia-Pacific led the market in 2023, accounting for one-third of the global roofing chemicals market revenue. This region is expected to continue its dominance due to rapid urbanization and industrialization, particularly in China, which has a massive construction sector.

- Asia-Pacific is also expected to grow at a CAGR of 5.4% throughout the forecast period, with increasing demand for waterproofing and reflective roofing solutions.

Key Market Players

- BASF SE
- Dow
- SIKA CORPORATION
- GAF, Inc.
- Owens Corning
- Johns Manville
- Saint-Gobain
- DuPont
- Akzo Nobel N.V.
- PPG Industries

These companies are adopting strategies such as new product launches, strategic partnerships, and geographic expansion to strengthen their positions in the competitive roofing chemicals market.

Conclusion:

The global roofing chemicals market is poised for substantial growth over the next decade, driven by technological advancements, rising demand for energy-efficient solutions, and an increasing focus on sustainability in construction. Despite environmental concerns, the market presents lucrative opportunities, particularly in regions like Asia-Pacific and segments focused on cool roofing solutions.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/roofing-chemicals-market-A51875

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.