(MENAFN- America News Hour) The roofing chemical market is segmented into application such as bituminous roofing, plastic (PVC) roofing, elastomeric roofing, membrane roofing, metal roofing and others. Among these bituminous roofing is expected to dominate the overall market and is projected to reach a remarkable CAGR by 2027. It makes the roof waterproof and weather resistant which increases the durability of the surface. Increasing urbanization raises the demand of the houses and building which is expected to positively impact the growth of the roofing chemical market. Increasing expenditure in house renovation and construction is expected to drive the growth of the roofing chemical market in upcoming years.
The global chemical roofing market is expected to reach USD 148 Billion by the end of 2027. Moreover, the market is anticipated to reach a valuable CAGR over the forecast period. Rise in construction project in the world coupled with increasing adoption of advanced and weather resistant coating is widening the demand for roofing chemicals . Moreover, consumer spending on housing products is likely to expand during the forecast period which signals promising growth for chemical roofing market. It has wide range industrial and household application. In term of region North America accounted for the largest market of roofing chemical marketin term of market share in 2017 and continues its control over the forecast period. Rising house renovation activities in this region is expected to positively impact the growth of the chemical roofing market. The market is mainly expanding on the back of the growth and expansion of construction project in the region.
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Further, Asia pacific is expected to grow at a significant pace in the upcoming period. Rapid increase in population count increases the construction project in Asia countries which is anticipated to driving the growth of chemical roofing market during the forecast period.
Rising Demand of Bituminous Roofing Chemical
Bituminous roofing chemical is widely used to protect house and commercial building across the globe. It has excellent properties such high water resistant, good sun light reflector, weather resistant as compared to others.
Growing Awareness about Benefits of Roofing Chemical
Indirectly roofing chemical helps to reduce emission greenhouse gases along with it controls inside temperature of the building thus low energy required for cooling which saves the energy as well as money. Further it increases the durability and life of the building is expected to fuel the growth of the roofing chemical market.
However, high cost associated with the roofing chemical is expected to dampen the growth of the roofing chemical market over the forecast period.
The report titled “Roofing Chemical Market : Global Demand Analysis & Opportunity Outlook 2027 ” delivers detailed overview of the global roofing chemical market in terms of market segmentation by product, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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This report also provides the existing competitive scenario of some of the key players of the global roofing chemical marketwhich includes company profiling ofSaint-Gobain S.A, Akzo Nobel N.V., Sika AG, 3M Company, GAF Materials Corporation, Owens Corning,Carlisle Companies Incorporated, Huntsman Corporation, PPG Industries, other prominent playerThe profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aircraft control equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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