The market for roofing adhesives is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are growing global construction industry and increasing replacement of mechanical fastening systems with adhesives. Increasing stringent environmental regulations are expected to hinder the growth of the market studied.
- Epoxy segment dominated the market and is expected to grow during the forecast period owing to the increasing demand from commercial segment across the globe.
- Increasing demand for bio-based roofing adhesives is likely to act as an opportunity in the near future.
- Asia-Pacific dominated the market across the globe with the largest consumption coming from countries such as China, India and ASEAN Countries.
Key Market Trends
Increasing demand for Epoxy Resins
- Epoxy resin systems are widely used for bonding concrete to a variety of materials such wood, metal, rubber and others.
- The application of epoxy resin-based roof adhesives offers various benefits. Some of the advantages offered are 100% tough bond, VOC free, non-corrosive, high peel strength, non-flammable, etc.,
- Owing to such properties, epoxy roof adhesives are extensively used in the industrial areas, commercial, residential and public places, including shopping malls, institutions, hospitals, schools, industrial buildings, prisons, and sports halls.
- Epoxy bonding agents have a pot life or setting time of 15-30 minutes at 25°C, making it necessary to mix only the limited amount that can be properly used at the given period.
- Hence, owing to the growing construction activities, especially in Asia-Pacific and Middle Eastern countries, the demand for epoxy roofing adhesives is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. With growing construction activities in countries such as China, India and ASEAN Countries, the consumption of floor adhesives is increasing in the region.
- The largest producers of roofing adhesives are located in Asia-Pacific region. Some of the leading companies in the production of roofing adhesives are Sika AG, Pidilite Industries Ltd, Bostik (Arkema Group), MAPEI S.p.A, and 3M.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new mega cities, over the next ten years, despite efforts to re-balance its economy to a more service-oriented form.
- Nearly, 9% of India’s GDP is spent on infrastructural services. The government of India has given an enormous momentum to the infrastructural sector, by allocating INR 5.97 lakh crore (~USD 92.22 billion), under the Union Budget 2018-2019.
- Hence, with the growing construction activities, the demand for roofing adhesives is expected to increase rapidly during the forecast period.
The global roofing adhesives market is fragmented with players accounting for a marginal share of the market. Few companies include Sika AG, Pidilite Industries Ltd, Bostik (Arkema Group), MAPEI S.p.A, and 3M.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Global Construction Industry
4.1.2 Increasing Replacement of Mechanical Fastening Systems with Adhesives
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Resin Type
5.3 End-user Industry
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Bostik (Arkema Group)
6.4.5 H.B. Fuller Company
6.4.6 Henry Company
6.4.8 MAPEI S.p.A
6.4.9 Pidilite Industries Ltd.
6.4.10 Sika AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand for Bio-based Roof Adhesives
7.2 Other Opportunities
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.