DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/gqwwjq/roofing_chemicals) has announced the addition of the "Roofing Chemicals Market by type (Acrylic Resin, Asphalt, Elastomer, Epoxy Resin and Styrene), by Application (Membrane, Elastomeric, Bituminous, Metal and Plastic Roofing Materials) and by Region - Global trends and forecast to 2020" report to their offering.
The roofing chemicals market is estimated to witness a CAGR of 7.11% between 2015 and 2020, and is projected to generate a value of $99,067.65 Million by 2020.
The report on roofing chemicals considers its important types, namely, acrylic resin, asphalt, elastomer, epoxy resin, and styrene among others. The key factors driving the global roofing chemicals market include growing demand from the Asia-Pacific region and from the application segments. The Metal roofing application market growth is one of the key drivers for this market. Increasing cost of the conventional feedstock and regulations of conventional chemicals are further driving it globally.
Metal roofing is the largest application of roofing chemicals across the world. The market size in terms of value for the same is projected to reach $28,134.52 Million by 2020. The roofing chemicals demand for metal roofing application from Asia-Pacific region is growing at a high rate. This is due to the growing industrialization, , supported with the rise in manufacturing sector.
For a long term economic development of a country, infrastructure is the key and is also driving the growth for roofing chemicals. This infrastructure essentially adds to the overall economic development by supporting urbanization and industrial growth. Growth in infrastructure makes way for easy communication between states and even countries, thus promoting trade. This will help to increase the GDP per capita and may result into better financial results.
At present, major roofing chemicals manufacturers in North America and Europe follow strict government rules and policies. But, the developing regions have fewer or no rules for this segment, thus increasing the opportunity in the region. The European government imposed many strict policies, which have encouraged many producers for the use of renewable chemicals.
The market is derived by studying consumption trends across these aforesaid regions and application segments. The price trends of these chemicals have been analyzed from annual reports of key players. The metal roofing is expected to lead the roofing chemicals market by application; followed by membrane roofing and plastic roofing, in terms of value.
The key participants in the roofing chemicals market include AkzoNobel N.V (Europe), BASF SE (Europe), The Dow Chemical Company (U.S.), 3M Company (U.S.), Owens Corning (U.S), Johns Manville (U.S), GAF Materials Corporation (U.S.), HB Fuller (U.S.), Kraton Performance Polymers (U.S), and Saint-Gobain (Europe).
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