Roofing Adhesives Market Size, Share, Growth, and Industry Analysis, By Type (Polyurethane Roofing Adhesive, Rubber Roofing Adhesive and Asphalt Based Adhesive), By Application (Residential and Non-residential) and Regional Forecast to 2032

Updated On: 04 November 2024

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ROOFING ADHESIVES MARKET REPORT OVERVIEW

The Roofing Adhesives Market Size is Projected to be worth US$ 1623.11 Million in 2023. The market is likely to surpass US$ 3011 Million by 2032 at a CAGR of 6.4% During the Forecast period [2024-2032].

The roofing market is currently undergoing a steady upswing largely because of the escalating use of first-rate endurable roofing elements that are desired in both domestic and commercial setups. It is important to note, that as far as roofing materials such as shingles and tiles are concerned, adhesion between them is mandatory since this will help to enhance durability as well as performance of installed roof systems generally through installing membranes which could have been realized through other methods including usage of nails or screws. The big players in this particular market are the real estate sector which is growing swiftly especially in upcoming countries, together with environmentally friendly construction becoming increasingly popular. They ensure strong bonding, ease of application, and environmental resistance in modern roofing systems, which is why we can never overlook the importance of roofing adhesives.

Roofing adhesives are now more conducive thanks to technological strides in adhesive formulas like high adhesion level, UV- light blocking ability as well as low-VOC content that improves both longevity and environmental acceptability. Furthermore, the affirmation of the increasing rate of green and environment-friendly construction materials has increased the use of sustainable adhesives.

The rising number of refurbishing projects and the use of modern roofing adhesives for enhancing the functionality and aesthetics of old roofs have also contributed to the upsurge.

COVID-19 Impact: Market Growth Restrained by Pandemic due to the disruptions in construction activities

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The pandemic of COVID-19 was mainly detrimental to the market of Roofing Adhesives because of disturbances in building activities as well as an inadequate supply chain. When it started happening, various places experienced lockdown and movement restrictions leading to the stoppage of buildings and discontinuations in progress. Therefore, a decrease in construction activities, characterized by several stalled projects, led to a corresponding decline in the need for adhesive roofing materials.

In addition to this, the pandemic was responsible for the huge hitches experienced in the supply chain that had a great negative impact on the production as well as distribution of roof adhesives. Consequently, manufacturing plants had to deal with operational problems like temporary closures or a decrease in the number of workers available on their premises thereby comprising of the production ability for adhesive products. Transport networks suffered due to the same reason resulting in late arrivals of both unfinished materials or even complete goods at their respective destinations.

Also, low demand for roofing adhesives resulted from underinvestment in the construction sector coupled with consumer recession caused by the pandemic. Nevertheless, the anticipated recovery of the construction industry after Covid 19 will spur a comeback for the company through growth in road maintenance works and other engineering constructions.

LATEST TRENDS

"Increasing demand for eco-friendly and sustainable adhesive solutions to drive market growth"

A prominent tendency in the roofing adhesives industry is the rising need for natural, environmentally friendly adhesive answers that maintain. This has often been taken to mean making glues whose volatile organic compounds do not evaporate into the atmosphere or whose constituent materials are recyclable to conform with legislations concerning climate change and personal choices on color. This trend draws attention to the change in the industry towards being sustainable; in the sense that the roofing materials used will have less of an impact on the environment even though they are still efficient and last longer than before.

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ROOFING ADHESIVES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Polyurethane Roofing Adhesive, Rubber Roofing Adhesive, and Asphalt Based Adhesive.

• Polyurethane Roofing Adhesive

Due to delivering strong and durable bonds that can hold up under violent weather conditions, as well as temperature fluctuations, new installation or repair work alike is made possible using polyurethane roofing adhesives. Its wide applicability in the roofing domain can be attributed to its excellent adhesion and flexibility for various conditions of roofing materials.

• Rubber Roofing Adhesive

Known for their high elasticity, resistance to UV rays, and weathering, rubber roofing adhesives are suitable for rubber roofing materials ensuring a reliable, waterproof seal that can accommodate the expansion and contraction of rubber roofs. These are preferred for both residential and commercial applications because they are durably flexible.

• Asphalt-Based Adhesive

Asphalt adhesives are extensively applied in the roof structure uptake due to a variety of reasons including their high bonding power and cost effectiveness. They are most efficient in conjunction with asphalt shingles and unalterable roofing systems. This is why even today, they have not lost a great deal of relevance in roofing.

By Application

Based on application the global market can be categorized into Residential and Non-residential.

• Residential

Roofing adhesives in homes are crucial to make sure there is a seal that is tough and withstands any kind of weather for different roofing materials including shingles and tiles. They help increase the service life and operational efficiency of residential roofs by providing tough adhesion and elasticity. The rising number of people looking for cheap but reliable ways to roof houses is what makes the demand for such adhesives high.

• Non-residential

Roofing adhesives are used extensively for commercial and industrial buildings in non-residential applications to secure different roofing materials such as membranes and metal sheets among others. To preserve the integrity of big-scale roofing systems, they have to be able to bond strongly as well as withstand severe natural conditions. Demand for these adhesives is driven by increased construction works or renovations in the business sector.

DRIVING FACTORS

"Rising Demand for Durable Roofing Solutions to Boost Market Growth"

The roofing adhesives market growth is on the rise as there are more efforts made to use building materials that are long-lasting and energy-efficient. They increase the longevity and performance of roofs which are one of the requirements for buildings used by people either for commercial or residential purposes hence they help in meeting this demand. Because of this reason, the use of sophisticated roofing adhesives continues to be expanded as more advanced buildings come up in addition to renovated structures leading to higher growth of this product category.

"Technological Advancements in Adhesive Formulations to Drive Market Growth"

Recent changes in Glue-Tech namely the production of enviro-friendly RF and VH adhesive products are speeding up sales of Roof-Grip Adhesives. They improve adhesive strength bonding and resistance to weather elements plus ease in application which is good for roof construction. In addition, popularity by manufacturers has increased due to more product features, leading to volume expansion.

RESTRAINING FACTORS

"Rising Raw Material Costs to Hinder Market Growth "

The Roofing Adhesives market growth has always been constrained due to the growing costs of raw materials that automatically lead to an increase in production costs and hence hike in prices of goods within this industry barricading more customers away especially from lower-priced segments hence going hand in hand with general market growth decline. Moreover, key materials scarcity variation may disturb supply chains thus altering market sustainability.

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ROOFING ADHESIVES MARKET REGIONAL INSIGHTS

The market is primarily segregated into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America dominates the market due to its well-established construction sector and high demand for durable roofing solutions.

Because of its well-developed building sector and high need for tough roof solutions, the Roofing Adhesives market share is dominated by North America. The existence of major adhesive producers in the region is robust along with the integration of sophisticated technology. There is an increasing preference for radical adhesives owing to strict building regulations and codes.  Furthermore, more renovation activities and paying more attention to energy efficiency are some of the other factors that have made the exact move to be experienced in the American market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Continuous Innovation, Strategic Partnerships, and Enhancing Product Offerings"

Growth in the Roofing Adhesives market is being led by key industry players through innovation, strategic partnerships, and expanding product offerings. For instance, through investing in cutting-edge adhesive technologies, the firms have been able to improve the quality of their products such as durability and environmental resistance. From the same perspective, they enter partnerships with roof materials manufacturers and building contractors so they can customize the answers according to an individual needs. In addition to this, their focus on sustainability and regulatory compliance is what shapes market trends to promote environmentally friendly as well as high-performance adhesions whose efforts collectively support the market expansion and keep up with ever-changing requirements of the roofing sector.

LIST OF MARKET PLAYERS PROFILED

• Black Jack (U.S.)
• IKO (Canada)
• Royal Adhesive (U.S.)
• Tremco Incorporated (U.S.)
• SOPREMA (France)
• GAF (U.S.)
• Sika (Switzerland)
• Bostik (France)
• Firestone Building Products (U.S.)
• Garland Industries (U.S.)
• Siplast (U.S.)
• RM Lucas (U.S.)
• DuPont and Dow (U.S.)
• Henry (U.S.)

INDUSTRIAL DEVELOPMENT

"April 2024": The development in the Roofing Adhesives Market was announced by Sika AG. Their spanking new Sikaflex®-252 roofing adhesive has been unveiled that is meant for greater durability under any weather condition and on top of that it performs better. This improved adhesive has a greater bonding strength as well as flexibility thus, it can be used in housing and business premises’ roofing without any issue. Sika has been working on creating powerful glues that withstand extreme temperatures or environmental pressures, becoming a dependable choice in contemporary roofing work, thereby contributing towards the efficiency and longevity of buildings in general.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis considers both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.