Global Liquid Roofing Market - 2021-2028
Liquid Roofing Market Overview
The global liquid roofing market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Liquid roofing involves the application of a monolithic, fully bonded, liquid-based coating to a roof. The coating cures to form a rubber-like elastomeric waterproof membrane, which offers high elasticity. It consists of multiple components such as liquid applied coatings and mesh membranes that come together to form a fully adhered, seamless, and self-flashing membrane. In addition, liquid roofing is environmentally friendly and saves energy by radiating heat and is also manufactured from recycled materials.
Different types of liquid roofing are manufactured such as Polyurethane Coatings, Acrylic Coatings, PU/Acrylic Hybrids, Bituminous Coatings, Silicone Coatings, Modified Silane Polymers, EPDM Rubbers, Elastomeric Membranes, Cementitious Membranes, Epoxy Coatings. EPDM rubber roofing has the roofing industry's most extended average service life of approximately 25-30 years. It is an ideal roof over application because it is lightweight and flexible and can be used for flat, low and steep slope roofs.
Asia-Pacific dominates the building & construction adhesive market with the growing construction and infrastructure industries in countries like China and India.
Liquid Roofing Market Dynamics
Rising Demand for Energy-Efficient Building is expected to drive the liquid roofing market
The rising concerns over the use of cool roofs to benefit the environment and save are anticipated to drive the liquid roofing market over the forecast period.
There is a growing need to reduce the carbon footprints, and thus several regulations introduced by the Environment Protection Agency (EPA) to encourage asbestos in roofing materials. According to the US Green Building Council, Buildings produce pollution both directly and indirectly, representing 39% of carbon dioxide emissions.
Liquid roofing is environmentally friendly and save energy by radiating heat and is also manufactured from recycled materials.
Moreover, different companies are involved in making eco-friendly and sustainable roofing. For instance, a Canadian company named Euroshield® makes eco-friendly roofing shingles from rubber tires. All of the products are manufactured from 95% recycled materials. These are derived from sustainable sources and can be recycled at the end of their lives too.
High manufacturing cost is expected to restrain the liquid roofing market
The higher cost of membranes than their alternatives is one of the major factors hindering the liquid roofing market. The cost of elastomeric membranes is similar or marginally more than single-ply membranes. However, the application cost is much higher. Elastomeric Paint manufacturers specially design elastomeric membranes to stretch beyond 300% of their original strength. Hence, membranes are costly, as their application requires more skilled labor and material than a standard sheet membrane.
Liquid Roofing Market Segment Analysis
EPDM rubber roofing has the roofing industry's most extended average service life of approximately 25-30 years. It is an ideal roof over application because it is lightweight and flexible and can be used for flat, low and steep slope roofs. The membranes have a high resistance to thermal shock, wind, hail, UV radiation and extreme temperatures, making it an extremely durable roof.
Moreover, recent advancement in the EPDM rubber roofing results in the opportunity to complete more jobs and earn more revenue. For instance, a US-based company called Firestone building products company, LLC has launched FullForce EPDM, the next evolution of Secure BondTM systems, at the 2019 International Roofing Expo (IRE). FullForce is the industry's only fully coated, seam-to-seam EPDM SA membrane with Firestone's patented factory-applied Secure Bond pressure-sensitive adhesive with significant labor savings.
Henceforth, EPDM rubber roofing is one of the upcoming and increasingly popular roofing options for projects such as home extensions, balconies, porches, sheds, and garages.
Liquid Roofing Market Geographical Analysis
Asia-Pacific dominates the building & construction adhesive market with the growing construction and infrastructure industries in countries like China and India
Asia-Pacific region dominates the global floor adhesives market share with growing construction activities in countries such as China, India and other ASEAN Countries. For instance, the Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year.
In 2017, the Indian government announced an investment worth US$ 31,650 billion to construct 100 cities under the smart cities plan. Over the five years, one hundred smart cities and 500 cities are likely to invite investments worth ~US$ 28.18 billion. Approximately, 9% of India's GDP is spent on infrastructural services. India's government has given enormous momentum to the infrastructural sector by allocating ~US$ 92.22 under the Union Budget 2018-2019.
Hence, with the growing construction activities and infrastructure, liquid roofing demand is expected to increase over the forecast period rapidly.
Liquid Roofing Market Competitive Landscape
The liquid roofing market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Sika AG, BASF SE, Dow Chemical, Saint-Gobain, 3M, AkzoNobel N.V., Bergquist Company, Indium Corporation, Parker Hannifin, RubberFlatRoof, Firestone Building Products Company, LLC among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the liquid roofing market globally.
Overview: Sika AG is a multinational Swiss company that supplies specialty chemicals to the building and motor vehicle industries. The company is headquartered in Baar, Switzerland.
Product Portfolio: Sika AG manufactures Liquid-Applied Membrane (LAM), a monolithic, fully-bonded, liquid-based coating suitable for waterproofing and roofing applications. The coating formed a rubber-like elastomeric waterproof membrane and applied over many substrates, including asphalt, bitumen and concrete.
The global liquid roofing market report would provide an access to an approx. 54 market data tables, 47 figures and 230 pages.
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