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The Liquid Roofing market experiences the influence of various factors that collectively shape its dynamics. Understanding these elements is crucial for industry participants to make informed decisions and navigate the market effectively.
Construction Industry Growth:
The primary driver for liquid roofing is the construction industry, where these materials are widely used for waterproofing and protecting building structures.
The overall health and growth of the construction sector, including residential, commercial, and industrial projects, significantly impact the demand for liquid roofing.
Renovation and Maintenance Projects:
Liquid roofing is commonly employed in renovation and maintenance projects to extend the lifespan of existing roofs.
The demand for liquid roofing materials is influenced by the frequency of renovation activities and the need for cost-effective solutions to enhance roof durability.
Sustainability and Green Building Practices:
Increasing emphasis on sustainability and green building practices has led to a rise in demand for environmentally friendly roofing solutions.
Liquid roofing materials, often formulated with eco-friendly components, align with these trends, impacting market dynamics as consumers prioritize sustainable options.
Urbanization and Population Growth:
Urbanization trends and population growth drive the need for new construction projects and the renovation of existing structures.
Liquid roofing, as a versatile and durable solution, sees increased demand in urban areas experiencing expansion and development.
Climate and Weather Conditions:
The climatic and weather conditions of a region influence the choice of roofing materials, with liquid roofing being particularly suitable for areas prone to extreme weather events.
Regions experiencing heavy rainfall, temperature variations, or intense sunlight contribute to the market demand for liquid roofing solutions.
Technological Advancements:
Ongoing technological advancements in liquid roofing formulations and application methods impact market dynamics.
Companies investing in research and development to improve the performance, ease of application, and longevity of liquid roofing materials gain a competitive edge.
Regulatory Compliance:
Stringent building codes and regulations related to roofing materials influence the adoption of liquid roofing solutions.
Compliance with industry standards and regulations is crucial for manufacturers and contractors to ensure the safety and quality of roofing installations.
Ease of Application and Installation:
Liquid roofing offers advantages in terms of ease of application, especially for complex roof structures.
The simplicity and efficiency of installation impact market dynamics as contractors and builders seek convenient and time-saving solutions.
Building Design Trends:
Architectural trends and design preferences influence the choice of roofing materials.
Liquid roofing, with its ability to conform to various shapes and designs, is favored in modern architecture, impacting market dynamics as design trends evolve.
Cost Considerations:
The cost-effectiveness of liquid roofing solutions compared to traditional roofing materials influences market dynamics, especially in budget-conscious construction projects.
Companies offering competitive pricing and cost-efficient solutions are better positioned to capture market share.
Competitive Landscape:
Intense competition among liquid roofing manufacturers and suppliers drives innovations in product formulations, quality, and pricing.
Companies that focus on differentiation, customer service, and marketing strategies enhance their competitiveness in a crowded market.
Resilience and Durability Requirements:
The need for resilient and durable roofing solutions to withstand environmental factors and ensure long-term performance is a key market factor.
Liquid roofing, known for its durability and ability to withstand harsh conditions, is favored in regions with demanding weather patterns.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 6.1 Billion |
| Market Size Value In 2023 | USD 6.5 Billion |
| Growth Rate | 7.27% (2023-2032) |
Liquid Roofing Market Highlights:
Global Liquid Roofing Market Overview
Liquid Roofing Market Size was valued at USD 6.50 billion in 2023. The Liquid Roofing market industry is projected to grow from USD 6.97 Billion in 2024 to USD 11.47 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.42% during the forecast period (2024 - 2032). The Rise in the usage of a 2K polyurethane liquid roofing system and the growing need for practical and economical roofing systems are the key market drivers contributing to the market revenue and growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Liquid Roofing Market Trends
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Rise in using a 2K polyurethane liquid roofing system drives the market growth
Market CAGR for liquid roofing is being driven by the Rise in the usage of a 2K polyurethane liquid roofing system and the growing need for practical and economical roofing systems. Liquid-applied coating and mesh membranes are two common components of liquid roofing systems. In addition to waterproofing, these elements offer many other physical and chemical qualities. This liquid roofing and building method can withstand extreme weather conditions and strains associated with any regular structure movement. The chemical composition is fire-resistant and can survive the heat, extending the life of the roof. It also provides resistance to water leakage, wind uplift, and hail.
The liquid roofing system is also one of the most economical roofing solutions, roofing project's cost depends on the material, installation, and energy use. Also, liquid roofing systems are simple to install, require few installation tools, and stay up to 20 years with little maintenance. By reflecting heat from the building, it saves energy and lessens landfill waste by minimizing tear-off waste. All of the above factors drive the need for liquid roofing systems.
The quick and effective application method of K-polyurethane technology makes it perfect for industrial and large-surface applications. Its demand is further fueled by the wide range of physical and chemical attributes, including weather and UV stability, mechanical and chemical resistance, quick drying, and appealing finish. The worldwide liquid roofing industry is thus being driven by the rising demand for 2K-polyurethane in liquid roofing systems.
For instance, improved heat reflections will be achieved in the upcoming years with the usage of liquid roof coating solutions. In the anticipated year, bitumen coatings acting as a waterproofing agent are anticipated to gain popularity. The market for liquid roofs has many prospects due to the rising environmental awareness surrounding the use of roofs. Cost-cutting activities during roof installation are anticipated to increase market demand. Thus, driving the Liquid Roofing market revenue.
Liquid Roofing Market Segment Insights
Liquid Roofing Type Insights
The Liquid Roofing market segmentation, based on type, includes Acrylic Coating, Polyurethane/Acrylic Hybrids Coating, Silicone Coating, Bituminous Coating, Elastomeric Coating, Epoxy Coatings, and Others. Acrylic coating dominated the market, accounting for 58% of the market share (USD 3.5 billion) in 2022. The acrylic coating has color retention features, better clarity, finished gloss, and water resistance are key drivers for this category to have a significant share in the market.
Liquid Roofing Application Insights
The Liquid Roofing market segmentation, based on Application, includes Flat Roof, Pitched Roof, Domed Roofs, and Others. The flat roof category dominated the market by contributing 48% of the market share in 2022. Flat roofs have a small pitch that allows for drainage and water runoff but gives the appearance of being level with no pitch is common in commercial and residential structures.
Liquid Roofing End-Use Insights
The Liquid Roofing market segmentation, based on End-Use, includes Residential and Non-residential. The residential segment dominated the market, accounting for 69% of the market share (USD 4.2 billion) in 2022. Category growth is driven by rising consumer awareness about liquid roofing benefits that fueled the market growth.
Figure 1: Liquid Roofing Market, by End-Use, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Liquid Roofing Regional Insights
By Region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America area will dominate this market by 45.8% of the market share in 2022, owing to growing industrialization and urbanization will further boost the market growth in this area.
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: Liquid Roofing market share by Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific Liquid Roofing market accounts for the second-largest market share due to spreading awareness about eco-friendly roofing systems. Moreover, China's Liquid Roofing market held the largest market share, and Japan's Liquid Roofing market was the fastest-growing market in the Asia-Pacific region.
The Europe Liquid Roofing Market is expected to grow in the projected timeframe. The expansion of legal lending to consumers, rising construction activity in Europe due to the Rise in single-family homes, and low borrowing and interest rates are anticipated to boost market expansion in Europe. Further, the German Liquid Roofing market held the largest market share, and the UK Liquid Roofing market was the fast-growing market in the European Region.
For instance, In January 2020, Rovene 6120 was released by Mallard Creek Polymers, a US-based manufacturer and provider of polymers to the elastomeric roof coatings industry. For highly durable elastomeric roof coatings that meet ASTM D 6083 standards, Rovene 6120 is considered the best choice. The new item has exceptional waterproofing qualities to fulfill consumer demands by producing new products.
Liquid Roofing Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to produce advanced-level new products, which will help the Liquid Roofing market. Market participants are also undertaking organic or inorganic strategic approaches to expand their footprint, with important market developments including new product innovations, agreements, mergers and acquisitions, capital expenditure, and strategic alliances with other organizations. The liquid Roofing industry must offer innovative and sustainable products to capture and expand in a competitive market.
Manufacturing locally to minimize expenses is one of the key business tactics organizations use in the Liquid Roofing industry to benefit customers with affordable products and capture untapped markets. In recent years, the Liquid Roofing industry has offered significant advantages to roofing systems and the environment. Major players in the Liquid Roofing market, including Sika AG (Switzerland), BASF SE (Germany), Dow Inc. (US), 3M (US), Saint-Gobain SA (France), Henkel Corporation (Germany), Akzo Nobel NV (Netherlands), Kraton Corporation (US), GAF Materials (US), ALT , LLC (US), Kemper System America, Inc. (US), Johns Manville (US), National Coatings Corporation (US), and Maris Polymers SA (Greece)., are attempting to fulfill market demand by investing in research and development to capture the untapped market as well.
Kaspar Winkler established Sika AG, a company that deals with chemicals, in 1910. Its headquarters are in Baar, Switzerland. It provides services to the manufacturing sectors and construction sectors. The business offers manufacturing services for bonding, dampening, strengthening, and safeguarding structures that bear loads. Its product categories include industrial flooring, roofing and waterproofing systems, damping, and structural strengthening solutions. In March 2021, Sika improved Sikalastic-625, one of the most popular polyurethane waterproofing membranes, as part of its ongoing commitment to innovation. The flexible cold-applied membrane is used throughout the UK for various flat roofs, from commercial and business roofs to terraces and pathways. The most recent version of Sikalastic-625N incorporates Sika's patented i-Cure Technology and enhanced chemistry, increasing the product's temperature stability, use, and shelf life.
INEOST is headquartered in Rolle, Switzerland, and was established in 1998. It has developed into a major chemical firm with about $60 billion in revenues. Petrochemicals, expertise chemicals, and oil products are all produced by INEOS. Because of its dominant market position, INEOS can serve many of the biggest clients in its markets as its preferred supplier. Strong and lasting connections with these clients have developed, which benefits the organization. In January 2023, The MBCC Group's admixtures business in the US, Canada, Europe, and the UK, as well as its whole operations in Australia and New Zealand, was acquired by INEOS Enterprises in an agreement signed in January 2023 by Sika AG and INEOS Enterprises. The disposal is required as a part of Sika's corrective action plan for buying MBCC Group.
Key Companies in the Liquid Roofing market include
- Sika AG (Switzerland)
- BASF SE (Germany)
- Dow Inc. (US)
- 3M (US)
- Saint-Gobain SA (France)
- Henkel Corporation (Germany)
- Akzo Nobel NV (Netherlands)
- Kraton Corporation (US)
- GAF Materials (US)
- ALT , LLC (US)
- Kemper System America, Inc. (US)
- Johns Manville (US)
- National Coatings Corporation (US)
- Maris Polymers SA (Greece)
Liquid Roofing Industry Developments
January 2023: The MBCC Group's admixtures business in the US, Canada, Europe, and the UK, as well as its whole operations in Australia and New Zealand, was acquired by INEOS Enterprises in an agreement signed in January 2023 by Sika AG and INEOS Enterprises. The disposal is required as a part of Sika's corrective action plan for buying MBCC Group.
April 2021: The Liquid Roofing and Waterproofing Association (LRWA) reported the release of a free online tool that enables customers to assess the suitability of liquid roofing systems. The product registry, aimed at suppliers, distributors, and specifiers, compiles data from third-party endorsements, such as ETA certificates and contracts, into a usable format.
March 2021: Sika has improved Sikalastic-625, one of the most popular polyurethane waterproofing membranes, as part of its ongoing commitment to innovation. The flexible cold-applied membrane is used throughout the UK for various flat roofs, from commercial and business roofs to terraces and pathways. The most recent version of Sikalastic-625N incorporates Sika's patented i-Cure Technology and enhanced chemistry, increasing the product's temperature stability, use, and shelf life.
Liquid Roofing Market Segmentation
Liquid Roofing Type Outlook
- Acrylic Coating
- Polyurethane/Acrylic Hybrids Coating
- Silicone Coating
- Bituminous Coating
- Elastomeric Coating
- Epoxy Coatings
- Others
Liquid Roofing Application Outlook
- Flat Roof
- Pitched Roof
- Domed Roof
- Others
Liquid Roofing End-Use Outlook
- Residential
- Non-Residential
Liquid Roofing Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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