Global Roofing Insulation Adhesives Market 2017-2021
About Roofing Insulation Adhesives
Insulation adhesives are expensive than mechanical fasteners. However, adhesives are proven to be cheaper on decks, which require predrilling. This is due to the reduction in the required man hours as the installation of roofing insulating panels using adhesives is faster, thereby reducing the labor costs.
Technavio’s analysts forecast the global roofing insulation adhesives market to grow at a CAGR of 7.93% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global roofing insulation adhesives 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 Insulation Adhesives Market 2017-2021
Technavio recognizes the following companies as the key players in the global roofing insulation adhesives market: 3M, Arkema, BASF, Henkel, Sika, and The Dow Chemical Company.
Other Prominent Vendors in the market are: Carlisle Construction Materials, Dove Technology, Firestone, GAF, Henry, Huntsman, Johns Manville, Qingdao Hengke Fine Chemicals, and Royal Adhesives & Sealants.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is development of environment-friendly roofing products. There is a strong preference for constructing buildings with environment-friendly insulated roofing systems in developed economies, such as Canada, the US, Germany, and others. Green roofs, cool roofs, and other related energy-saving roofing systems are increasingly becoming popular in the developing regions along with the developed regions. Many roofing membranes are colored white to reduce the surface absorption of heat and increase heat energy reflection. In addition, the acceptance of green roofing systems helps in reducing the concentration of toxic gases emitted from the nearby industries in the atmosphere. This helps in maintaining 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 insulation adhesives market during the forecast period.”
According to the report, one driver in market is growing urban population. The growing urban population is increasing the demand for new residential buildings globally. According to the estimates by World Bank, approximately 54% of the world’s population resided in urban areas in 2015. We expect the population of individuals residing in the urban areas to increase further. Therefore, large-scale urbanization across the globe has resulted in an imminent rise in the demand for high-quality public infrastructure, urban residential developments, and commercial spaces, e.g., shopping malls. Developed construction markets across the globe (the US, the UK, Canada, and Germany) are focusing on enhancing the quality of the existing public infrastructure.
Further, the report states that one challenge in market is lack of skilled labor. The construction industry provides many employment opportunities but lacks skilled labor. The availability of material and skilled labor are crucial at all stages for the successful completion of any construction project. The construction industry is characterized by workforce migration, and novices or unskilled laborers have little safety consciousness or discipline. Poor pay, tough working environment, and lack of job security are observed to be the critical factors that can be attributed to the attrition of workforce in the construction industry. The training and retention costs of labors are also increasing. Therefore, the completion of projects is hampered due to the shortage of skilled workers, affecting the market growth.
3M, Arkema, BASF, Henkel, Sika, The Dow Chemical Company, Carlisle Construction Materials, Dove Technology, Firestone, GAF, Henry, Huntsman, Johns Manville, Qingdao Hengke Fine Chemicals, Royal Adhesives & Sealants.