New York, NY -- (SBWIRE) -- 12/08/2020 -- The global Roofing Chemicals market size is forecast to reach USD 167.27 billion from USD 95.52 billion in 2019, exhibiting a CAGR of 7.7% over the forecast period. The market growth is driven by the surging demand for energy-efficient buildings and wide utilization of bio-based roofing chemicals.

The high demand of roofing chemicals is reflecting the sunlight on the roofs and help to keep temperatures inside buildings lower. This in turn lowers both residential and business buildings' energy consumption because less energy is needed to maintain these buildings cool. This is not the only way to protect the rooftop chemicals against erosion elements such as rain and snow efficiently. For instance, BASF, a leader in the roofing chemicals industry announced in 2019 that it has installed SuperGuard, thermoplastic polyolefin (TPO) sheets produced by Wonpoong Corporation in South Korea, to protect the roof of the Incheon Airport. TPO sheets are commonly used as roofing membranes in commercial buildings and other large structures as a more environmentally friendly option for high-performance waterproofing.

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Several players in this industry depend on expansions and new product development projects to include more energy-efficient chemicals for roofing. The newly launched chemical roofing solutions are well-known for their low VOC emissions and comply with EU regulatory agencies' requirements such as the RoHS (RoHS) and REACH directive.

Increased R&D operations and lower costs for roofing system installation would stimulate the demand growth of chemicals on the roofing industry. In addition, increased investment in technological advances aimed at improving building aesthetics as well as the performance of roofing chemicals membrane material would foster growth of the market through the projected timeframe.

Asia Pacific is projected to represent the bulk of the world market share in roofing chemicals and offer a CAGR of almost 8.1 percent by 2027. Factors such as China's solid economic growth, Indian and Chinese population growth. The strong presence of key manufacturers and the production of organic roofing products in the area would also complement the market turnover during the analytical period. The increase in the infrastructure development activity.

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In the light of a tight regulatory structure for environmentally friendly components in roofing systems in the region, Europe is expected to see substantial growth during the planned time period.

Key participants in the global roofing chemicals market include

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

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Roofing Chemicals Market: Segmentation

For the purpose of this report, Reports and Data has segmented the Global Roofing Chemicals Market on the basis of type, application, end-use industry, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

Epoxy Resin
Bituminous
Asbestos
Elastomers
Others

Application Outlook (Revenue, USD Billion; 2017-2027)

Metal Roofing
Membrane Roofing
Others

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)

Residential
Commercial
Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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