The global roofing insulation adhesives market is expected to grow at a CAGR of almost 8% during the forecast period, according to Technavio’s latest report.
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Technavio has published a new report on the global roofing insulation adhesives market from 2017-2021. (Graphic: Business Wire)
In this report, Technavio covers the market outlook and growth prospects of the global roofing insulation adhesives market for 2017-2021. By end-users, this market is divided into residential and non-residential segments.
The constantly increasing urban population is creating a steady demand for new residential buildings globally. A high number of new high-rise buildings, which are sustainable and energy-efficient creates a high demand for roofing insulation adhesives, thus driving the growth of the market.
Technavio’s research study segments the global roofing insulation adhesives market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest roofing insulation adhesives market segment
“The Americas is the largest market for roofing insulation adhesives and is expected to be valued a USD 815.1 million by 2021. The highest demand for the roofing adhesives originates from North America due to increasing awareness regarding energy consumption and the consequent move towards sustainability,” says Ajay Adikari, one of the lead analysts at Technavio for additives, adhesives, and sealants research.
The governments in the region are adding momentum to the growth of the roofing insulation adhesives market by providing incentives and tax credit options to consumers who upgrade to energy-efficient buildings. Additionally, majority of the new buildings in the region are opting for energy-efficient practices and technologies, bringing in revenue to the market.
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EMEA: increased awareness towards sustainability will drive growth of the market
The roofing insulation adhesives market in EMEA will showcase steady growth during the forecast period. The market in Europe will be driven by stringent government regulations and the growing awareness of sustainability. The market in MEA, on the other hand, will grow due to increased investments in affordable homes and the growing demand for new commercial buildings. Additionally, government mandates to update old structures with sustainable systems will bring in additional revenue to the market.
APAC: fastest growing roofing insulation adhesives market segment
“The roofing insulation adhesives market in APAC will grow swiftly with a CAGR of over 9% through the forecast period. Rapid urbanization, growing construction industry, and increased investments in infrastructure activities, especially in building infrastructure are driving the market growth in the region,” says Ajay.
China and India are expected to bring in most of the demand for roofing insulation adhesives, driven by the easing of rules pertaining to foreign investment in the real estate sector. Also, majority of the building owners in the region are focusing on energy-efficient roofing systems, which will drive the demand for roofing insulation adhesives in APAC.
The top vendors in the global roofing insulation adhesives market highlighted in the report are:
- 3M
- Arkema
- BASF
- Henkel
- Sika
- The Dow Chemical Company
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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