Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Liquid Roofing Market.
Global Liquid Roofing Market is projected to be valued at USD 11.4 billion by the end of 2032, registering a CAGR of 7.27% during the forecast period.
Extensive use of liquid roofing in the construction industry is a key driver of the global market. The liquid roofing market is driven by various factors such as resistance to hail, wind uplift, water leakage, cost-effectiveness, environment-friendly, among others.
With increasing environmental concerns, governments and end-users have significantly demanded green and environment-friendly coatings. Moreover, the consumers are more inclined toward eco-friendly coatings due to an increase in the focus on health, safety, and environmental regulations within the application areas of coating. Thus, the surge in demand for environment-friendly products by the customers has prompted manufacturers to reduce the use of volatile organic compounds (VOCs) in coatings and opt for solvent-free coating products.
Global Liquid Roofing Market has been segmented based on Type, Application, End-Use, and Region.
Based on type, the global liquid roofing market has been segmented into polyurethane coating, acrylic coating, polyurethane/acrylic hybrid coating, silicone coating, bituminous coating, elastomeric coating, epoxy coating, and others. The acrylic coating segment accounted for the largest market share of 28.92% in 2019. These coatings are soluble in water; however, they possess water-resistant properties in the dry state. It is used for functional, protectoral, or decorative purposes. Due to the beneficial coating properties such as enhanced gloss, better clarity, weatherability, and excellent finish, the segment has a major share compared to others in the liquid roofing market.
Based on application, the global liquid roofing market is segmented into a flat roof, pitched roof, domed roof, and others. The flat roof segment was valued at USD 3,018.5 million in 2019. These roofs are used in industrial and commercial buildings. However, they can also be installed on residential houses in both high and low rainfall areas.
By end-use industry, the liquid roofing market is divided into residential and non-residential. The residential segment accounted for a larger market share of 63.09% in 2019. The residential construction activity is expected to increase across the world due to the growing urbanization trend, rising disposable income, and rising population resulting in high housing demand.
MRFR recognizes the following companies as the Key Players in the Global Liquid Roofing Market— Sika AG (Switzerland), BASF SE (Germany), Dow Inc. (US), 3M (US), Saint-Gobain SA (France), Henkel Corporation (Germany), Akzo Nobel NV (Netherlands), Kraton Corporation (US), GAF Materials (US), ALT Global, LLC (US), Kemper System America, Inc. (US), Johns Manville (US), National Coatings Corporation (US), and Maris Polymers SA (Greece).
Key Findings of the Study