Global liquid roofing market size was US$8.3 billion in 2022, market value is projected to reach US$17.2 billion at 7% CAGR by 2032
Overview of the liquid roofing market
The Liquid Roofing Market is a growing industry that provides an innovative solution for commercial, industrial and residential roofing applications. Liquid roofing systems offer a seamless, watertight and energy efficient alternative to traditional roofing materials. These systems are applied as a liquid that cures to form a durable protective coating that will last up to 25 years. The liquid roofing market is driven by the increasing demand for sustainable, long-lasting roofing solutions and the focus on energy efficiency in the construction industry. Additionally, the increase in green building practices and regulations has led to an increase in demand for green roofing systems. Major players in the liquid roofing market include GAF Materials Corporation, Sika AG, The Dow Chemical Company, BASF SE, and Johns Manville, among others.
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Highlights and Statistics of Liquid Roofing Market Research Report
● The global liquid roofing market size was US$8.3 billion in 2022 and is projected to reach US$17.2 billion by 2032, growing at a CAGR of 7%.
● The global liquid roofing market is driven by factors such as increasing demand for durable, energy-efficient and sustainable roofing systems in the construction industry.
● The market is also being driven by a growing focus on green building practices and regulations that encourage the use of green and energy efficient roofing solutions.
● The Asia-Pacific market is both the largest and the fastest growing regional market. North America and Europe are also among the most important markets.
● Major players in the liquid roofing market include GAF Materials Corporation, Sika AG, The Dow Chemical Company, BASF SE and Johns Manville.
Trends in the liquid roofing market
● High demand for bio-based liquid roofing materials that are environmentally friendly and sustainable.
● Strong focus on developing liquid roofing solutions compatible with various substrates such as metal, concrete and asphalt.
● Using innovative technologies such as infrared scanning and drones to improve the accuracy and efficiency of liquid roof applications.
● Use of liquid roof systems in new construction projects and in the retrofitting and renovation of existing buildings.
● Increasing demand for liquid roofing systems that offer improved resistance to UV radiation, extreme weather conditions and chemical exposure.
● Development of intelligent liquid roof systems capable of self-monitoring and self-repair, reducing the need for regular maintenance and inspection.
● Use of liquid roof systems for green roofs and vegetated roofs, which provide additional insulation and improve air quality.
Market dynamics for liquid roofing
● Increasing demand for liquid roofing systems in emerging markets, where rapid urbanization and infrastructure development are driving the construction industry.
● Increasing use of liquid roof systems in the transport sector, particularly in airports, train stations and car parks.
● Development of low-VOC (volatile organic compound) liquid roofing materials that meet stringent environmental regulations and improve indoor air quality.
● Increasing use of liquid roofing systems in the industrial sector, particularly in factories and warehouses where a high level of durability and corrosion resistance is required.
● Use of liquid roofing systems to waterproof and protect historic buildings and monuments.
● Development of cool-liquid roof systems that reflect sunlight and reduce the urban heat island effect.
● Use of liquid roof systems in offsite modular construction, where prefabricated buildings are assembled in a factory and transported to the construction site.
● Growing trend of using liquid roof systems in combination with solar panels and other renewable energy systems to create sustainable and energy efficient buildings.
Factors inhibiting growth in Liquid Roofing Market
● Complexity of the liquid roofing installation process, which requires careful surface preparation and application to ensure proper adhesion and coverage.
● Limited color options for liquid roofing materials, which may limit their aesthetic appeal in some architectural styles.
● Concerns about the safety and environmental impact of liquid roofing materials, particularly those containing volatile organic compounds (VOCs).
● Fluctuations in raw material prices can affect the cost of liquid roofing systems, which can make them less competitive in the market.
● Limited availability of suitable substrates for liquid roof systems, which may limit their use in certain construction projects.
● Limited awareness among building owners and contractors of the benefits and applications of liquid roofing systems.
● Competition from alternative roofing systems such as single-ply membranes and asphalt shingles that offer lower initial costs and easier installation.
● Stringent building codes and regulations that may limit the use of liquid roofing systems in some regions or applications.
Major Players of Liquid Roofing Market
BASF SE, Dow Inc., GAF Materials Corporation, Firestone Building Products Company, LLC, Sika AG, Johns Manville Corporation, Saint-Gobain SA, Henry Company LLC, Kemper System America, Inc., Soprema Group, Pidilite Industries Limited, Karnak Corporation , Carlisle Companies Incorporated, Tremco Incorporated, Fosroc, Inc., Triton Chemicals, Akzo Nobel NV, Everroof Coating Sdn. Bhd., RENOLIT SE and Gaco Western LLC
market segmentation
● By type
○ Bitumen coatings
○ Epoxy coatings
○ Polyurethane coatings
○ Silicone coatings
○ Acrylic coatings
○ Other
● By application
○ Industrial/Institutional
○ Housing
○ Infrastructure
○ Commercial
Liquid Roofing Market Overview by Regions
● The liquid roof market share in North America is one of the highest in the world, with a strong focus on energy efficiency and sustainability. The increasing adoption of green building codes and standards has led to an increase in demand for green roofing solutions. The United States is the largest liquid roofing market in the region, followed by Canada and Mexico. The growth of the construction industry, coupled with increasing investment in infrastructure development, is driving the demand for liquid roofing in the region.
● Liquid roofing market share in Asia-Pacific is the largest and fastest growing, with a strong focus on urbanization and infrastructure development. The region has some of the fastest growing economies in the world, which has led to a surge in demand for commercial and residential construction. China is the largest liquid roofing market in the region, followed by India, Japan and South Korea. The growth of the construction industry coupled with the increasing demand for green and energy efficient roofing solutions is driving the demand for liquid roofing in the region.
● Europe is another key market for liquid roofing, with a strong focus on energy efficiency and environmental sustainability. The region has some of the strictest building codes and standards in the world, which has led to a high demand for eco-friendly roofing solutions. The UK is the largest liquid roofing market in the region, followed by Germany, France and Italy. The growth of the construction industry coupled with increasing demand for retrofit and refurbishment projects is driving demand for liquid roofing in the region.
● The South American region is a developing market. The region has a high need for roofing solutions that can withstand extreme weather conditions such as heavy rainfall and high humidity.
● The MEA regions have a smaller but growing market share of liquid roofing. The region has a high need for roofing solutions that can withstand extreme weather conditions such as high temperatures and sandstorms.
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