Global Roofing Adhesive Market 2017-2021
About Roofing Adhesive
Roofing is the process of covering the uppermost surface and supporting structures of a building with materials such as shingles, membranes, insulating glass, and cement. There are two main types of roofing defined by the pitch or slope of the roof: steep-slope roofing and low-sloped or flat roofing. Roofing adhesives are substances used to bind the roof surfaces, thereby providing strength to the building structure. The global roofing adhesive market is segmented based on type (polyurethane, epoxy, silicone, acrylic, and others), technology (waterborne, solvent-borne, and others), application (residential and non-residential), and region (the Americas, EMEA, and APAC).
Technavio’s analysts forecast the global roofing adhesive market to grow at a CAGR of 6.55% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global roofing adhesive market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Roofing Adhesive Market 2017-2021
Technavio recognizes the following companies as the key players in the global roofing adhesive market: BASF, The Dow Chemical Company, Arkema, Henkel, and Sika.
Other Prominent Vendors in the market are: Apollo, Carlisle Construction Materials, Dove Technology, Firestone, GAF, Henry, Huntsman International, IKO Roofing, Innovative Chemical Products Group, Johns Manville, Karnak Corp, OMG Roofing Products, and Royal Adhesives & Sealants.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is development of environmental-friendly roofing system. There is a strong preference in developed economies such as Canada, the US, and Germany to develop buildings with environment-friendly roofing systems. Green roofs, cool roofs, and other energy-saving roofing systems are increasingly becoming popular in developing and developed regions. Many roofing membranes are colored white to reduce the heat absorption of the surface by reflecting it. Also, the usage of green roofing systems helps in reducing the toxicity of gases from nearby industries, thereby maintaining the environmental balance of the atmosphere in the vicinity. This trend to opt for environment-friendly roofs is expected to boost the growth of the global roofing adhesive market during the forecast period.”
According to the report, one driver in market is increasing demand from emerging economies. The increase in residential and non-residential building constructions in emerging economies is expected to boost the application of roofing adhesives during the forecast period. The emerging countries such as India, China, Indonesia, Russia, and Brazil are expected to drive the demand for roofing adhesives. In 2015, the GDP of India and China was around 7.56% and 6.9%, respectively. The rise in the GDP of these countries is expected to boost the manufacturing and building industries which will lead to the growth of the roofing adhesives market in these regions. The availability of land, cheap labor, and fewer government regulations have made many roofing adhesives vendors to shift their manufacturing centers to these regions. Higher disposable incomes and changing lifestyles in these economies have led to higher growth in the construction market. Thus, consumers are remodeling their homes and buildings as per the green building norms. Therefore, the global roofing adhesive market is going to experience a rise during the forecast period.
Further, the report states that one challenge in market is fluctuating raw material prices. The manufacturing of roofing adhesives requires raw materials which are acquired from the oil and gas industry. The fluctuations in crude oil prices have a severe effect on raw material prices. They affect the costs of silicone, acrylic, and polyurethane, thereby affecting the costs of roofing adhesives. In 2010, the crude oil price for Brent was around $77 per barrel and increased during 2012 by nearly 41%. In 2015, there was a significant drop in the value of crude oil to almost half the prices. The price of crude oil per barrel decreased at a rate of nearly 60% in the year 2016. This fluctuation had a negative impact on the prices of raw material used for manufacturing roofing adhesives. The volatile prices of raw materials will directly affect the revenue and profit margins of manufacturers. Vendors are compelled to shift to alternative solutions to prevent declining profit margins, which curbs the demand for roofing adhesives. The economic scenario plays a vital role in having a broader outlook on the performance of the market. If there has been a positive outlook for the market, the demand fluctuations observed are less, leading to ample opportunity for the growth of the global roofing adhesive market.
BASF, The Dow Chemical Company, Arkema, Henkel, Sika, Apollo, Carlisle Construction Materials, Dove Technology, Firestone, GAF, Henry, Huntsman International, IKO Roofing, Innovative Chemical Products Group, Johns Manville, Karnak Corp, OMG Roofing Products, and Royal Adhesives & Sealants.