New York City, NY, 16 April, 2020/ 24 Market Reports: It is estimated for the global roofing adhesives market to reach USD 5.78 Billion by 2021 at a CAGR of 6.75% from 2016 to 2021.The growing middle-class population in emerging countries such as China, India, and Brazil. Increasing demand for elastic bonding adhesives from construction application to avoid cracks provide chemical, oil and grease resistance and higher durability has also increased the demand for roofing adhesives.
The residential construction segment to lead the market during the forecast period
The residential construction segment to lead the market during the forecast period. Rising income levels, shift towards nuclear families, affordable interest rates, and modern attitudes to homeownership in several countries expecting several new construction activities are propelling the growth of the segment in the market during the forecast period.
Polyurethane is currently the dominant segment in the overall market
Polyurethane is currently the dominant segment in the overall market, however, the epoxy resin segment is projected to grow at the highest CAGR between 2016 and 2026. Epoxy resins have a unique combination of adhesion, chemical resistance, and physical properties. Epoxies are also used as a structural glue. Materials like wood, concrete and others that are 'low-tech' are glued with epoxy resin. These properties increase the demand for epoxy resins in the building & construction application.
Asia Pacific region to lead the market during the forecast period
Asia Pacific region to lead the market during the forecast period. The rising demand for residential, commercial, and infrastructural activities in emerging countries, such as Thailand, Indonesia, Taiwan, and Vietnam. This is driving the roofing adhesives market in the region.
