Roofing Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The roofing adhesives market is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are growing global construction industry and increasing replacement of mechanical fastening systems with adhesives. Increasing stringent environmental regulations are expected to hinder the growth of the market studied.

Key Highlights

• Epoxy segment dominated the market and is expected to grow during the forecast period owing to the increasing demand from commercial segment across the globe.
• Increasing demand for bio-based roofing adhesives is likely to act as an opportunity in the near future.
• Asia-Pacific dominated the market across the globe with the largest consumption coming from countries such as China, India and ASEAN Countries.

Key Market Trends

Increasing demand for Epoxy Resins

• Epoxy resin systems are widely used for bonding concrete to a variety of materials such wood, metal, rubber and others.
• The application of epoxy resin-based roof adhesives offers various benefits. Some of the advantages offered are 100% tough bond, VOC free, non-corrosive, high peel strength, non-flammable, etc.,
• Owing to such properties, epoxy roof adhesives are extensively used in the industrial areas, commercial, residential and public places, including shopping malls, institutions, hospitals, schools, industrial buildings, prisons, and sports halls.
• Epoxy bonding agents have a pot life or setting time of 15-30 minutes at 25°C, making it necessary to mix only the limited amount that can be properly used at the given period.
• Hence, owing to the growing construction activities, especially in Asia-Pacific and Middle Eastern countries, the demand for epoxy roofing adhesives is expected to increase over the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region dominated the global market share. With growing construction activities in countries such as China, India and ASEAN Countries, the consumption of floor adhesives is increasing in the region.
• The largest producers of roofing adhesives are located in Asia-Pacific region. Some of the leading companies in the production of roofing adhesives are Sika AG, Pidilite Industries Ltd, Bostik (Arkema Group), MAPEI S.p.A, and 3M.
• The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new mega cities, over the next ten years, despite efforts to re-balance its economy to a more service-oriented form.
• Nearly, 9% of India’s GDP is spent on infrastructural services. The government of India has given an enormous momentum to the infrastructural sector, by allocating INR 5.97 lakh crore (~USD 92.22 billion), under the Union Budget 2018-2019.
• Hence, with the growing construction activities, the demand for roofing adhesives is expected to increase rapidly during the forecast period.

Competitive Landscape

The global roofing adhesives market is fragmented with players accounting for a marginal share of the market. Few companies include Sika AG, Pidilite Industries Ltd, Bostik (Arkema Group), MAPEI S.p.A, and 3M.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support