Roofing adhesives play a pivotal role in the construction industry, providing essential bonding solutions for roofing materials. Key companies in this sector include industry leaders such as Henkel AG & Co. KGaA, Sika AG, 3M Company, and BASF SE. These companies are renowned for their innovative adhesive technologies, ensuring durable and weather-resistant bonds for various roofing applications.
The roofing adhesives market is a dynamic and competitive space with immense potential for growth. Understanding the strategies of major players, the factors influencing market share, and the latest industry trends is crucial for navigating this landscape successfully. Innovation, sustainability, and strategic partnerships will be key for players to thrive in the coming years.
List of Strategies Adopted:
Factors for Market Share:
Key Companies in the Roofing Adhesives market include
Industry News and Roofing Adhesives Market Summary:
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Roofing Adhesives Market Size was valued at USD 6.3 Billion in 2022. The Roofing Adhesives market is projected to grow from USD 6.7 Billion in 2023 to USD 10.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2023 - 2032). Epoxy resin consumption is rising, and construction activity is expanding, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Concrete is frequently bonded to a number of materials, including wood, metal, rubber, and others, using epoxy resin systems. Epoxy resin-based roof adhesives have a number of advantages when used. Epoxy roof adhesives are widely used in industrial areas, commercial, residential, and public places, including shopping malls, institutions, hospitals, schools, industrial buildings, prisons, and sports arenas, due to some of the benefits offered, such as 100% tough bond, VOC free, non-corrosive, high peel strength, etc. Epoxy bonding compounds have a 15–30 minute pot life or setting time at 25°C, making it important to mix only the small amount that can be used effectively during the allotted time.
Manufacturing and product development initiatives are receiving more funding from manufacturers. For usage in packaging, construction, agriculture, and other materials, Toyochem Co. Ltd. created a new line of biodegradable adhesives in 2020. Additionally, Bostik introduced a new line of disposable hygienic adhesive products in 2021 that contain sustainable bio-based materials. As a result, the market for roofing adhesives is anticipated to rise due to the rising demand for natural roofing adhesives.
By increasing funding and investment in residential building, the residential segment is expanding. In the home building industry, roofing adhesives are used to hold the insulation, flashings, field membrane, and the entire roof system in place. The government-funded residential construction sector is expanding, as is the residential construction industry as a whole. For example, the U.S. Department of Commerce reports that the number of privately owned housing units permitted by building permits in March 2022 was about 1,873,000, which is approximately 0.4% more than February 2022's 1,865,000 units and approximately 6.7% more than March 2021's approximately 1,755,000 units. Furthermore, the European Construction Industry Federation reports that, compared to the year 2019, the construction of homes in Sweden climbed by 2% in 2020. Consequently, it is projected that the roofing adhesives business would grow rapidly over the course of the projection period as a result of the expanding residential building sector.
Therefore, the demand for epoxy roofing adhesives is anticipated to rise over the projected period as a result of the expanding construction activities, particularly in Asia-Pacific and Middle Eastern nations. Thus, driving the Roofing Adhesives market revenue.
The Roofing Adhesives Market segmentation, based on type includes polyurethane, epoxy, silicone, acrylic, and others. Due to the rising demand from the commercial segment around the world, the epoxy segment, which currently dominates the market, is anticipated to expand over the forecast period. It is a synthetic material that solidifies when heated. It has exceptional qualities, including chemical resistance and adherence of other physical properties, so it can tolerate inclement weather.
The Roofing Adhesives Market segmentation, based on technology, includes solvent borne, waterborne, and others. In terms of market share and growth rate during the anticipated period, it is expected that waterborne will continue to dominate the market. Their superior shear strength, glossy appearance, tremendous flexibility, and federal environmental regulations serve as their primary propellants. A mixture of compounds dissolved in a solvent is referred to be solvent borne.
The Roofing Adhesives Market segmentation, based on application, includes residential, and non-residential. Residential category had the biggest market share in terms of value, followed by non-residential/commercial building. Rising income levels, a shift toward nuclear families, low interest rates, and contemporary attitudes about home ownership in several nations anticipating new construction activity are some of the causes driving the roofing adhesives market.
Figure 1: Roofing Adhesives Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. With a 45.80% share of the global market, the Asia-Pacific region led. The need for floor adhesives is rising in the region as a result of expanding construction activity in nations like China, India, and the ASEAN nations. Asia-Pacific is where the majority of roofing adhesives are produced. Sika AG, Pidilite Industries Ltd., Bostik (Arkema Group), MAPEI S.p.A., and 3M are a few of the top producers of roofing adhesives. Despite attempts to rebalance its economy to be more service-oriented, the Chinese government has unveiled vast development plans, including preparing arrangements for the relocation of 250 million people to its new mega cities over the next ten years. India's GDP is over 9% devoted to infrastructure-related expenses. In the Union Budget 2018-2019, the Indian government allocated INR 5.97 lakh crore (about USD 92.22 billion), giving the infrastructure sector a tremendous boost. As a result, the demand for roofing adhesives is anticipated to develop quickly during the projected period along with the expansion of construction activities. Further, China’s Roofing Adhesives market held the largest market share, and the Indian Roofing Adhesives market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ROOFING ADHESIVES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to the region's growing need for roofing adhesives, North America Roofing Adhesives market accounted for the second largest share of the market. The rise of the global market should be aided by the growth in residential and non-residential structures as well as the population's rising disposable income. Further, the U.S. Roofing Adhesives market held the largest market share, and the Canada Roofing Adhesives market was the fastest growing market in the North America region.
The Europe Roofing Adhesives market also anticipated to be a profitable market for roofing adhesives throughout the forecast period because of the rise in construction activities, particularly in the commercial sector such hospitals and hotels, as well as the government's focus on the hospitality and tourism industry. Further, the German Roofing Adhesives market held the largest market share, and the U.K. Roofing Adhesives market was the fastest growing market in the European region.
Leading market players are investing heavily in research and development in order to expand their Product lines, which will help the Roofing Adhesives market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Roofing Adhesives industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Roofing Adhesives industry to benefit clients and increase the market sector. In recent years, the Roofing Adhesives industry has offered some of the most significant advantages to medicine. Major players in the Roofing Adhesives market, including Polyglass USA, Inc, MAPEI S.p.A., Sika AG, Henkel AG & Co. KgaA, BASF SE, 3M, Bostik, H.B. Fuller, Arkema, Taylor, Apollo Roofing Solutions, GAF, Karnak, Chemlink, Wacker Chemie AG, Pidilite Industries Ltd., Johns Manville, Liquid Nails, IKO Industries Ltd., Finpan, Inc., are attempting to increase market demand by investing in research and development operations.
The company Tropical Roofing Products Corporation creates roofing materials. Commercial roofers, building owners, property managers, architects, and consultants benefit from the company's production of professional-grade roof cement, primers, adhesives, and coatings. The business provides roof cements, modified roof compounds, primer, and reflective and asphaltic roof coatings. Customers of Tropical Roofing Products are located in the US. Using professional grade adhesives, mastics, coatings, and accessories from Tropical Roofing Products in a roofing system and roof maintenance program benefits commercial roofers, building owners, property managers, architects, consultants, and everyone else responsible for roof care and maintenance. The business has three sites in Florida, Texas, and California where it produces asphaltic, modified, aluminum, and elastomeric materials. Rx Roof Repair, a brand-new roofing repair and restoration adhesives solution, was introduced in May 2022 by Tropical Roofing Products, Inc. (TRP). Rx Roof Repair provides an almost immediate water-tight fix in just one step and is designed to be used as a direct-bond, permanent patch and repair product.
H.B. Fuller Co. (H.B. Fuller) creates, produces, and sells speciality chemical products like adhesives and sealants. The business provides a variety of items for use in residential building markets, including grout, sealants, tile-setting adhesives, and associated goods. Electronics, speciality polymers, healthcare, disposable hygiene, transportation, sustainable energy, packaging, woodworking, general industries, and other consumer enterprises are some of its customers. To satisfy the unique needs of consumers, the business also provides technical assistance and specialized solutions. It markets its goods across the Middle East, Africa, Asia-Pacific, Latin America, North America, and Europe. The U.S. city of St. Paul, Minnesota, serves as the headquarters of H.B. Fuller. The largest independent producer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction markets in the United Kingdom, Apollo, was acquired by H.B. Fuller Company in January 2022.
March 2022:Â Debondable hot-melt adhesives from Conagen were introduced, and they are widely sought-after. They are made of high-performance materials from sustainable and natural biomolecules.
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