Roofing Adhesives Market

Roofing Adhesives Market Size (2023-2028)

The roofing adhesives market size was valued at $ 5.36 billion in 2022 and is predicted to reach $ 7.49 billion by 2028 with an annual development rate of 8.81% from 2023-2028

The adhesive material holds two surfaces together so they should never come loose. Two surfaces adhere together, developing resistance and maintaining stability. Also, roofing adhesives join two roofs in rolls of styrene-butadiene-styrene-modified asphalt or bitumen. They come in hot and cold forms and are also available in different sizes. Ceiling adhesives provide chemical bonding and physical interlocking between two materials and exhibit high environmental resistance. Their performance is maintained regardless of weather conditions, salt water, rain, heat, UV light, and others, making them widely employed in building and construction applications. The epoxy segment has dominated the market and is predicted to grow during the foreseen period due to escalating calls from the commercial segment worldwide. The main factors driving the studied market are the expansion of the world construction industry and the escalating substitution of adhesive mechanical fixation systems. Its main characteristics include wetting the surface, adhesion when developing resistance, and maintaining stability. Roofing adhesives can be employed in a wide range of applications, from insulation to bonding tiles.

Roofing Adhesives Market Drivers:

The call for roofing adhesives is escalating worldwide, positively influencing the expansion of the global roofing adhesives market. The increase in residential and commercial construction activities is stimulating expansion in the world market. The shift to nuclear families and modern attitudes towards home ownership in various countries are predicted to drive expansion in the worldwide market. Some other factors that are driving the expansion of the global roofing adhesives market are rapid urbanization, escalating the population supported by higher income levels, and affordable interest rates. The construction industry is the primary end-user of roofing adhesives. The expansion of the construction industry is directly related to the expansion of a nation's GDP. In the current scenario, the GDP and economic prospects of most countries have a positive trend, this could stimulate investment in the construction sector and, therefore, lead to the expansion of the roofing adhesives market. In addition, housing plans and public investment initiatives taken by governments in developed and developing economies are escalating the call for roofing adhesives in the residential sector. The epoxy segment is predicted to grow and create immense opportunities for the development of the target market during the outlook period because of the rising call from the commercial segment worldwide.

Restraints in the Roofing Adhesives Market:

Although the roofing adhesives market is rising, a few factors act as a bottleneck for the expansion of the worldwide market. The main obstacles to market expansion are the volatility of commodity prices associated with the making of these adhesives.

Opportunities in the Roofing Adhesives Market:

The rising call for bio-based roofing adhesives is predicted to provide an opportunity in the near future. Given the expansion in construction activity, the call for roofing adhesives is foreseen to increase rapidly during the estimated period. The augmenting construction activities in the emerging nations of the Asia Pacific and Middle East countries are predicted to promote the business throughout the assessment period.

Challenges in the Roofing Adhesives Market:

The instability in the prices of basic products and the economic slowdown are factors that hinder expansion in the world market. Escalating stringent environmental regulations are predicted to hamper the expansion of the studied market.

ROOFING ADHESIVES MARKET REPORT COVERAGE

Roofing Adhesives Market Segmentation:

By Application

• Residential

• Non-Residential/Commercial.

The residential segment is subdivided into repairs and maintenance and new construction. Another non-residential / commercial segment is sub-segmented into repair and maintenance and new construction.

By Technology

• Solvent Borne

• Waterborne

By Resin Type

• Acrylic

• Polyurethane

• Silicone

• Epoxy

• Others

Among these, the polyurethane Roofing Adhesives segment contributed the largest market share. Epoxy is the second-largest expanding segment. It is an artificial substance that turns into a solid when heated. It has excellent properties such as chemical resistance, and adhesion of other physical properties so that it can withstand adverse weather conditions.

Roofing Adhesives Market - By Region

• North America Roofing Adhesives market Industry includes U.S, Canada.

• Europe Roofing Adhesives market Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Roofing Adhesives market Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Roofing Adhesives market Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

• Middle East & Africa Roofing Adhesives Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The Asia-Pacific market is predicted to experience the highest expansion rate, in terms of value and volume. North America held the prominent portion because of the expanding demand for roofing adhesives in this locale. The increase in residential and non-residential buildings, combined with the increase in disposable income of the population, should boost the expansion of the worldwide market. The escalating urbanization and subsequent expansion of industrialization in the Asia-Pacific region are predicted to experience expansion in the future. The emerging middle-class population and the rising purchasing power of people in developing regions like India and China have also contributed to the expansion of the worldwide market. The Middle East and Africa shows significant expansion options due to the increasing preference for luxurious and well-developed infrastructure.

Recent Developments 

Innovative Chemical Products Group (ICP Group), a company in the Audax Private Equity portfolio, acquired the assets of 3M's (formerly Polyfoam) pressure polyurethane foam adhesives business, which is part of 3M's Industrial Adhesives and Tapes. 3M's pressure polyurethane foam adhesive business is crucial in the residential roofing, commercial roofing, and industrial insulation and foam segments. United, with annual sales of around $ 20 million.

Roofing Adhesives Market Key Players:

• The 3M Company (U.S.)
• The Dow Chemical Company (U.S.)
• Henkel AG & Company (Germany)
• Sika AG (Switzerland)
• Arkema (France)
• GAF Materials Corporation (U.S.)
• Derbigum Americans, Inc
• Sika AG
• Arkema, Royal Adhesives & Sealants