Liquid Roofing is the process of applying high-technology waterproof coating systems to roof substrates. Liquid Roofing is gaining importance as it is economical, sustainable, durable, flexible, green, and easy to maintain.
Rapid industrialization around the world is a major driver for the liquid roofing market due to the increasing demand for energy-efficient buildings with HVAC systems and green roofs, among other features. HVAC systems and green roofs can be an effective way to manage resources, as they are environmentally friendly as well as economical. The development of eco-cities across the globe is also likely to fuel the demand for Liquid Roofing during the forecast period. A rise in living standards, coupled with high disposable incomes, enables large-scale investments in the construction of residential buildings. Liquid roofing is known for its low volatile organic components (VOC) content and is claimed to consume less energy, thereby making buildings more energy-efficient and less reliable on air-conditioning or heating which contribute to air pollution.
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Favorable government regulations such as the Clean Air Act and Clean Water Act by the US Environmental Protection Agency (EPA) and the REACH regulations by the EU are expected to further augment market growth. The development of emerging nations such as China, India, and the ASEAN countries in Asia-Pacific is expected to positively impact market growth during the forecast period. However, the high volatility of raw material prices may pose a challenge to players in the market. According to the Asian Development Bank, investments worth USD 26 trillion are required in infrastructure from 2016 to 2030 to maintain the growth momentum in the region.
Some of the recent development trends observed in the market include investments in R&D and product developments. For instance, in 2014, Sika AG invested USD 172 million in a Liquid Roofing membrane research and development center in the UK. Furthermore, in January 2018, the company developed a virtually odorless, solvent-free wet-on-wet system with rapid cure, which can be used in new build and refurbishment projects.
The Global Liquid Roofing Market has been segmented by Type, Roof Type, Application, and Region.
On the basis of the Type, the global market has been segmented into polyurethane coatings, acrylic coatings, PU/acrylic hybrids, silicone, bituminous, EPDM polymers, modified silane polymers, cementitious membrane, elastomeric membranes, and epoxy coatings.
Liquid Roofing can be applied to various types of roofs such as flat roofs, new builds, pitched roofs, domed roofs, warm roofs, green roofs, and others.
Based on Application, the market has been segmented into residential buildings, industrial facilities, commercial buildings, and public infrastructure.
The Global Liquid Roofing Market has been analyzed with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. The market in Asia Pacific dominated the global market in 2017 due to an increase in infrastructural activities in the region. Large-scale investments in state development programs in countries such as India, China, and Indonesia are also expected to fuel market growth. The development eco-cities, similar to Tianjin Eco-City in Singapore, is an excellent example of infrastructural growth offering opportunities to market players.
The North American market accounted for the second-largest share in 2017 due to increased demand for liquid roofing from the flourishing construction industry in the region.
The European market is likely to see considerable growth as construction activities abound in Western European countries.
The Latin American market is projected to grow at a significant rate due to the development of emerging economies such as Argentina, Brazil, and Chile.
The market in the Middle East & Africa is likely to grow substantially in light of the construction and infrastructural activities in the GCC countries.
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