The global roofing chemical market is foreseen in a report by Transparency Market Research (TMR) to gain a whole lot of growth due to a rising demand from the construction industry. Titled “Roofing Chemical Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” the report anticipates the market to gain from the increasing requirement of durable materials in the construction industry. However, the market may not merely rely on this demand for its growth. There could be other factors such as changing lifestyle augmenting the requirement of roofing chemical in the near future.
The growing inclination toward sustainable living could have a positive impact on the demand for roofing chemical. Furthermore, the rising demand for thermal management building structures is foretold to improve the demand in the coming years. However, there could be a slack in the demand because of expensive installation and manufacturing costs. Nevertheless, the market could offer growth opportunities on the back of the swelling demand from the commercial and residential sectors. Materials such as bituminous are expected to draw significant demand due to their superior features such as non-combustible, lightweight, and ease of use.
The commercial and residential sectors could offer lucrative business opportunities for bituminous roofing chemical because it holds the ability to enhance longevity and bolster mechanical strength of different roofing. Moreover, bituminous is water-resistant in nature. There are other types of roofing chemical as well, viz. elastomers, asbestos, and epoxy resins. However, bituminous may showcase its prominence in the world roofing chemical market in the foreseeable future.
The wide usage of membrane roofing manufactured with the help of modified bitumen or elastomers in the residential sector could lead to a decent growth of the application in the near future. However, the development of pre-engineered metal buildings and non-residential applications is predicted to augur well for the demand for metal roofing. Metal shingles are manufactured with the extensive usage of materials such as copper, stainless steel, and aluminum. Metal roofing is said to have a lengthy service life and to be tremendously durable. This application is anticipated to see a considerable expansion in the world roofing chemical market.
The residential sector as a key end user of roofing chemical could attain growth on the back of the rise in demand for roofing systems that offer improved performance. Nevertheless, the commercial sector could also contribute to the international roofing chemical market due to the increase in reroofing, remodeling, and other infrastructure development activities. By region, the market could witness a broad expansion in Asia Pacific because of the high growth in population in emerging countries such as China and India. Moreover, the region is said to have a good scope for market growth.
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North America could be another region with rewarding growth in the international roofing chemical market owing to the development of bio-based roof coating products and healthy presence of prominent manufacturers. Latin America along with the Middle East and Africa are prognosticated to contribute because of the demand for roofing chemical that delivers high performance. Europe, on the other hand, could ride on stringent regulatory framework for ecofriendly components in roofing systems.
The international roofing chemical market witnesses the presence of top players such as Eastman Chemical Company, Saint-Gobain S.A., and E. I. du Pont de Nemours and Company.