Report Shows Roofing and Waterproofing Chemicals Market to Grow at 7% and 6% CAGR, Respectively, by 2020
PUNE, INDIA – April 27, 2016 – Global Roofing Market 2016-2020 and Global Waterproofing Chemicals Market 2016-2020 are new research reports added to ReportsnReports.com store with forecasts of seven percent CAGR and six percent CAGR to 2020, respectively.
The global roofing market analysts say due to the rising concern over the increase in carbon footprints in buildings, the demand for sustainable buildings is growing at a high rate. This in turn is creating huge demand for green roofing globally. The analysts forecast global roofing market to grow at a CAGR of 6.96 percent during the period 2016-2020.
According to the roofing market report, increased investment in new commercial buildings, specifically in the new hotels and shopping mall segments, is propelling the demand for roofing globally. In addition, the major demand for roofing can be seen in the green roofing segment in commercial buildings.
The residential sector was the largest consumer of roofing products during 2015, accounting for a market share of around 42%. A rise in investment in the residential building construction sector is a major factor driving the growth of this market globally.
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The key vendors analyzed in roofing market are Braas Monier, Etex, Owens Corning, Saint-Gobain, and Wienerberger. The other prominent vendors in the market are Atlas Roofing, American Hydrotech, Beacon Roofing Supply, CertainTeed, Eagle Roofing Products, IKO Industries, Johns Manville, GAF, Multicolor Steels, and Stramit.
Further, the roofing market report states that the construction industry provides a large number of employment opportunities but lacks skilled labor.
The "Global Waterproofing Chemicals Market 2016-2020" report says the concept of green roofing is trending the market, and expected to boost growth. A green-roofed building is covered with vegetation, and saves on the energy used for cooling and heating purposes inside the building.
MNCs are focused on increasingly investing in infrastructures and buildings. This is boosting the demand for roofing materials and consequently, waterproof chemicals. The market research analyst predicts the global waterproofing chemicals market to grow steadily at a CAGR of approximately 6% by 2020
In this market study, analysts have envisaged the bitumen segment to be the largest market segment during the forecast period. At present, this segment dominates the market and is envisaged to account for more than 53% of the total market share by the end of 2020 owing to factors like its high viscosity and stickiness.
Market research analysts have estimated the roofing segment to account for more than 32% of the total market share by 2020. The increasing government expenditure on rapid infrastructure development is a critical factor that fuels the prospects for growth in this segment during the forecast period.
Key players in the global waterproofing chemicals market are: Conpro Chemicals, Triton Chemicals, Dow Chemical, Pidilite Industries and Bostik
Other prominent vendors in the market are: Sika, Henkel, BASF, and HB Fuller. Further, the waterproofing chemicals market report states that lack of efficient workers, poor job security, and low safety awareness are preventing the completion of construction projects and market growth of waterproof chemicals.
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