The Global "Roofing Insulation Adhesives Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).
Insulation adhesives are expensive than mechanical fasteners. However, adhesives are proven to be cheaper on decks, which require predrilling. This is due to the reduction in the required man-hours as the installation of roofing insulating panels using adhesives is faster, thereby reducing the labor costs.
Demand for commercial roofing has grown as the overall construction market has strengthened over the past few years. Growth of this roofing application has been further punctuated by demands for higher performance both during and after installation.
Updated building codes for increased energy efficiency are driving changes in the construction method to provide continuous insulation performance for the proper building enclosure which will fuel the demand over the forecast period.
Further, commercial roofing has become increasingly more systems-driven requiring further education aimed at architects, roofing consultants, and contractors about selecting and installing the right system including underlayment, insulation, weather-resistant barriers, flashing and tapes, adhesives, and coatings. In addition, developing specifications for complete systems will create opportunities for the roofing insulation adhesives market in the next few years.
However, fluctuating raw material prices and a shortage in the supply of raw materials hinder the market growth.
Based on the component, the global roofing insulation adhesives market is broadly segmented classified into one-component and two-component. Among all of the components, two-component dominate the market in terms of maximum usage in various applications such as residential, commercial, industrial, and agricultural structures. This component is virtually odor-free and can, therefore, can be used on projects where strong odors cannot be tolerated, such as hospitals, medical facilities, and schools. In addition, these materials are compatible with most insulation and deck types and are installed with relatively quiet application methods.
Two-component insulation adhesives are typically applied either by spray or extrusion. Spray application is the oldest method of dispensing and requires certain equipment and precautions.
However, the most common method of applying a two-component insulation adhesive is by the extrusion method. For these applications, contractors typically use a hand applicator, similar to a large caulk gun, or a larger dispensing cart. Whereas full coverage units hold 50 gallons or more of each component of the urethane adhesive (i.e., Part A and Part B), carts typically hold five gallons of each part, and handguns typically hold 1,500-ml cartridges.
Based on the region, the global Roofing Insulation Adhesives market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among all of the regions, Asia Pacific dominated the global roofing insulation adhesives market in terms of increasing building and construction activities and awareness of environmental hazards in emerging economies such as India, China, the Middle East, Thailand, Indonesia, Brazil, and Argentina.
Another economic growth factor is increasing population in countries such as China and India. With a population of around 4.3 billion which is 60 percent of the world’s population, According to the data from the United Nations Population Fund in 2018. China and India account for almost one-third of the global gross domestic product (GDP) measured in terms of purchasing power parity (PPP).
Global roofing insulation adhesives market is fragmented with the presence of many local and international players. The versatility in product features and opportunities of market growth through new product launches is poised to intensify competitiveness among companies.
The companies follow the strategy of the product launch in a bid to increase company revenue and financial resources.
For instance, in February 2019 – Tremco Roofing and Building Maintenance has enhanced its popular line of modified bitumen (MB) roofing solutions with POWERply® Endure™ MB Membranes.
In April 2018 - Tremco Roofing and Building Maintenance have added new products to its already powerful and diverse line of roofing solutions: POWERply® Endure™ BIO Adhesive, TremPly® TPO, and TremPly® Max TPO single-ply systems.
In August 2018 – Tremco Roofing and Building Maintenance have added two tough, waterproof, easy-to-install single-ply roofing systems to its TremPly® line: TremPly KEE and KEE FB (Fleeceback).
In December 2017 - OMG Roofing Products has introduced a plate-marking tool designed to help roofers improve rooftop productivity by quickly locating and marking RhinoBond Plates installed under thermoplastic membranes.
The companies are focused on collaborations and strategic partnerships to increase roofing insulation adhesives demand across specific applications.
For instance, in January 2018, ExxonMobil and MagnaBond collaborate to develop new technologies that could enhance cost-effective evaluation of well cementing, casing, and tubing.
In September 2017 -- H.B. Fuller Company has signed an agreement to purchase Royal Adhesives & Sealants, a leading manufacturer of high-value specialty adhesives and sealants. This business consistently delivers industry-leading growth rates, EBITDA margins, and free cash flow that are expected to enhance H.B. Fuller’s position as a global leader in the adhesives industry.
Get your free sample proposal with a single click!