Roofing Adhesive Market, by Resin Type (PU, Epoxy, Silicone, Acrylic), Technology (Solvent Borne, and Waterborne), Application (Building & Construction), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America), The global Roofing Adhesive market size was estimated at USD 6.12 billion in 2023 and is projected to reach USD 10.29 billion in 2030 at a CAGR of 6.72% during the forecast period 2023-2030.
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North America to Dominate the Roofing Adhesive Market:
North America is estimated to account for the largest market share during the forecast period due to the increasing disposable income of individuals and high demand for roofing adhesives in this region.
The prominent players in the Roofing Adhesive market are:
· 3M
· Apollo
· Arkema
· Ashland
· Bostik (Arkema Group)
· Carlisle Syntec
· Chemlink
· Dove Technology
· DOW
· GAF
· H.B. Fuller Company
· Henkel AG & Company
· Henry Company
· Johns Manville
· Jowat
· MAPEI S.p.A
· Pidilite Industries Ltd.
· Royal Adhesives & Sealants
· Sika AG and More
Roofing adhesives find application in a wide spectrum of roofing needs ranging from joining tiles to insulating. These adhesives must exhibit properties such as bleed and stain resistance, color retention, strong bonding capabilities, flexibility at low temperatures, long-lasting sealing and ease of application. While certain types of floor adhesives are specific to particular roofing needs, a select few multi-purpose solutions are adept at bonding several materials including those used in residential, sports and non-residential roofing.
Heat transfer fluids (HTFs) find their application in an array of renewable energy technologies such as concentrated solar power (CSP) plants, biodiesel production systems, wind turbines, and geothermal systems. Furthermore, HTFs can serve as an energy storage medium for the solar energy, which facilitates a consistent power supply in spite of the intermittent availability of sunlight. The demand for solar energy, in conjunction with the government's stringent regulations on clean energy, is anticipated to drive the growth of HTFs in the renewable energy industry.
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Recent Developments
In March, 2022, 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.
SOPREMA Inc., a leading manufacturer of roofing, waterproofing, wall protection, and civil engineering waterproofing systems, has completed its acquisition of DERBIGUM Americas Inc., the United States division of the Belgian roofing solutions provider DERBIGUM.
Key Findings of Roofing Adhesive Market:
· The Resin Type segment is further fragmented into PU, Epoxy, Silicone and Acrylic. Due to the burgeoning demand from the commercial sector worldwide, it is expected that the epoxy segment, which currently holds sway in the market, will experience considerable expansion over the projected period. This synthetic substance undergoes solidification upon exposure to heat and boasts exceptional attributes such as chemical resistance and optimal adherence to other physical properties, thus rendering it resilient to inclement weather conditions.
· The Technology segment is further bifurcated into Solvent Borne, and Waterborne. During the projected period, it is anticipated that waterborne coatings will continue to dominate the market in terms of market share and growth rate. This is largely due to their exceptional shear strength, lustrous appearance, impressive flexibility, and strict adherence to federal environmental regulations, which serve as their primary drivers. A solution consisting of various compounds dissolved in a solvent is commonly known as solvent-borne.
· The Application segment is further bifurcated into residential, and non-residential. The category of residential buildings exhibited the largest market share in value, with non-residential and commercial structures following suit. A number of factors, including increases in income, a trend toward nuclear family living, consistently low interest rates, and modern views on property ownership in certain countries, are all contributing to the growth of the roofing adhesives market.
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