The roofing chemicals market size is projected to be valued at US$ 253.90 Million in 2022 and is expected to rise to US$ 117.60 Million by 2032. The sales of Roofing Chemicals are expected to grow at a significant CAGR of 8% during the forecast period. Some of the factors propelling the sales of roofing chemicals are:
Roof coatings and coverings are typically treated with roofing chemicals to improve their performance and shelf life. These chemicals are essential for maintaining a low temperature in the interiors.
Growing environmental concerns, as a result of the increased use of cold roofs around the world, are expected to drive the market. The growing need to minimize one's carbon emissions should further propel the market growth.
The growing number of R&D activities aimed at lowering the costs of installing roofing systems is expected to boost demand for the product. Technological advances to enhance the aesthetics of buildings, as well as the efficiency and material of membranes in roofing chemicals will further lead to market growth.
| Attributes | Details |
|---|---|
| Roofing Chemicals Market Value (2022) | US$ 253.90 Million |
| Roofing Chemicals Market Forecast Value (2032) | US$ 117.60 Million |
| Roofing Chemicals Market CAGR (2022 to 2032) | 8% |
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The prime factor driving demand for roofing chemicals is the need for sustainable living standards, which incorporates reduction of carbon footprint of houses, as roofing chemicals helps primarily to reduce in-house temperatures, thus requiring less energy to cool the house, in turn reducing carbon emissions.
Moreover, the need to increase longevity of the construction is further fuelling the demand for roofing chemicals, as they inherently helps in overheating and thus extends roof life. This coupled with a rapid increase in construction activity across all developing nations, particularly, in Asia are together translating into rising demand for roofing chemicals.
Along with, increasing awareness about the benefits of roofing chemical is another integral factor imparting growth numbers to the global roofing chemicals market. Increase in the presence of bituminous roofing due to its more durability and usage in warehouses and factories is also driving more demand for asphalt bituminous roofing chemicals.
Moreover, added features of asphalt roofing such as protection against fire, wind and hail is also adding more demand for asphalt based roofing chemicals.
However, even now installing a rooftop featured with roofing coating and chemicals to protect from high temperature comes costly, and is the major restraint, restricting the growth in global roofing chemicals market.
Principal Consultant
The global roofing Chemicals market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
North America is the leading market considering demand for roofing chemicals, amid stringent regulations regarding energy conversation in the US and Canada. Moreover, rising construction activities in Asia Pacific, particularly in China and India, is letting the APEJ region to expand the fastest in terms of demand for roofing chemicals.
Due to high inclination of most European governments towards low energy consumption per capita, ha led demand for roofing chemicals in Western Europe to scale high.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of Product type,
On the basis of application area,
The market is likely to register a CAGR of 8% through 2032.
The market is currently valued at US$ 253.90 Mn in 2022.
The market is likely to grow to a valuation of US$ 117.60 Mn by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
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Roofing Chemicals Market
