Liquid Roofing Market Worth 7.48 Billion USD by 2021
PUNE, India, August 23, 2016 /PRNewswire/ --
The report "Liquid Roofing Market by Type (PU/Acrylic Hybrids, Polyurethane, Acrylic, Bituminous, and Silicone Coatings), Application (Residential Buildings, Commercial Buildings, Public Infrastructure, and Industrial Facilities) - Global Forecast to 2021", published by MarketsandMarkets, The market size is projected to reach USD 7.48 Billion, at a CAGR of 7.1%.
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Browse 72 market data Tables and 63 Figures spread through 139 Pages and in-depth TOC on "Liquid Roofing Market"
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The market size is estimated to be 3,439.3 Million square meters by 2021, registering a CAGR of 6.7% during the forecast period. This growth is fueled by the increasing production capacities, rising development strategies, growing need for energy-efficient buildings, and growing application sectors globally.
Silicone coatings: The largest liquid roofing market, by type
Silicone coating was the largest segment for the liquid roofing market in 2015. The unique combination of properties of silicones is well suited to coating applications. The products used for silicone polymers as additives and silicone resins as the main component or binder. Silicone polymers are used to ease application of paints. The surface properties of silicones enable a paint to wet a substrate easily and give it a smooth appearance once dry. Silicone resins offer resistance to weathering in paints for exterior surfaces such as bridges and roofs of buildings. They also provide water repellence to masonry surfaces such as stone and brick.
Residential buildings: The largest market for liquid roofing market, by application
The residential buildings industry includes both roofing and reroofing activities. Residential buildings include all kinds of residential structures such as houses, town houses, cottages, condominiums, and apartments. In residential buildings, liquid roofing is used in various applications including roofing and reroofing. Rise in standard of living and growth in the construction industry is driving the market for residential buildings.
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Asia-Pacific: The largest market for liquid roofing
China, India, Japan, and Australia are some of the key Liquid Roofing Market in Asia-Pacific, which together accounted for nearly 38.12% of the overall market, in terms of volume, in 2015. Rising population, urbanization, and industrialization along with growing concerns related to infrastructure development and waterproofing in China and India are some of the factors that will drive the market for liquid roofing in Asia-Pacific during the forecast period. Residential construction activities in Asia-Pacific have increased due to the rising income levels, shift toward nuclear families, affordable interest rates, and changing preferences in terms of home ownership in several countries. Several new construction activities are expected to begin in the region during the forecast period, thus driving the liquid roofing market.
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