Global Liquid Roofing Market Grows Steadily at a CAGR of 7.47%

Liquid roofing is a technique used to protect the surface of the roof substrate by applying advanced polymeric coating materials that function as additional skin to the original substrate, which varies based on their end use. For example, asphalt, bismuth, metal, and asbestos are essential substrates for non-residential applications, whereas felt and concrete are utilized predominantly for residential applications. A liquid roofing system is a highly cost-effective way to waterproof, damage-resistant, and energy-efficiently upgrade new or existing roofs. Market Dynamics Growing Demand for Cost-Efficient and Functional Roofing Systems Drives the Global Market The primary components of liquid roofing systems are liquid-applied coatings and mesh membranes. These components offer a variety of physical and chemical qualities in addition to their waterproofing capability. This liquid roofing and construction solution can survive harsh environmental conditions and building movement loads. Due to its fire resistance, the chemical composition can survive the sun's tremendous heat, extending the roof's lifespan. In addition, it protects against hail, wind uplift, and water leakage. In addition, the liquid roofing system has been demonstrated to be among the most cost-effective roofing solutions. Liquid roofing systems are simple to install than conventional roofing systems and require less expensive installation tools. Depending on the coating methods, it can provide up to 20 years of performance with minimal maintenance. In addition, they reduce the total cost of ownership, which includes maintenance, insulation, and energy usage. It conserves energy by reflecting the building's heat and saves landfill trash by minimizing tear-off debris. All of the above elements drive the global market for liquid roofing systems. Increased Focus on Advancing Infrastructural Growth Creates Tremendous Opportunities The expanding construction sector in developing nations such as India, China, Thailand, and Indonesia, due to rising residential development, population expansion, and rising disposable income per capita, is anticipated to increase the product's demand. Increasing government investments in commercial buildings for infrastructure development in several countries, such as Thailand, Indonesia, and Malaysia, are also projected to increase demand for liquid roofing. The market expansion in the United States can be ascribed to the rise in residential buildings and the rising demand for single-family homes. Therefore, the rapid expansion of infrastructure-related activities in developed and developing nations will create opportunities for growth of the global market for liquid roofing throughout the study period. Regional Analysis Asia-Pacific is the most significant shareholder in the global liquid roofing market and is anticipated to grow at a CAGR of 8.22% during the forecast period. The market expansion is attributable to rising urbanization and industrialization in Asia-Pacific developing economies, particularly in China, Japan, and Southeast Asian nations. In the Asia-Pacific region, China is the primary producer and consumer of liquid roofing. China's expanding industrial base and rising population are the primary factors driving market expansion. In China, government spending on infrastructure climbed by 4.3% annually in the first months of 2019 compared to 3.8% in 2018. Additionally, India's liquid roofing market is developing due to rising demand from commercial construction industries. In addition, the Indian government invested around USD 63.2 billion in the infrastructure industry in 2018, which is anticipated to stimulate market growth. North America is expected to grow at a CAGR of 7.39% over the forecast period. The North American region is subdivided into the United States and Canada. The United States held a considerable share of the liquid roofing market in North America over the forecast period. The established presence of residential structures with flat roofs in the region is the primary element driving growth in the North American liquid roofing industry. Key Highlights The global liquid roofing market was valued at USD 8,689 million in 2022. It is estimated to reach USD 16,617 million by 2031, growing at a CAGR of 7.47% during the forecast period (2023–2031). Based on type, the global liquid roofing market is divided into polyurethane coating, acrylic coating, polyurethane/acrylic hybrids coating, silicone coating, bituminous coating, elastomeric coating, epoxy coatings, and others. The acrylic coating segment is the highest contributor to the market and is expected to grow at a CAGR of 8.51% during the forecast period. Based on application, the global liquid roofing market is divided into flat roofs, pitched roofs, domed roofs, and others. The flat roof segment owns the highest market share and is anticipated to grow at a CAGR of 8.09% during the forecast period. Based on end-user, the global liquid roofing market is divided into residential and non-residential. The residential segment is the highest contributor to the market and is estimated to grow at a CAGR of 7.88% over the forecast period. Asia-Pacific is the most significant shareholder in the global liquid roofing market and is anticipated to grow at a CAGR of 8.22% during the forecast period. Competitive Players The key players in the global liquid roofing market are BASF SE Dow Saint-Gobain SA 3M Sika AG Kraton Corporation Henkel Corporation GAF Materials Akzo Nobel NV Kemper System America Inc. ALT Global, LLC Johns Manville National Coatings Corporation Maris Polymers SA. Market News In January 2023, Sika AG and INEOS Enterprises signed a contract for INEOS Enterprises to purchase MBCC Group's admixtures business in the United States, Canada, Europe, and the United Kingdom ("Disposal Perimeter") and its complete activities in Australia and New Zealand. The disposal is necessary as part of Sika's remediation process for its acquisition of MBCC Group. In December 2022, Sika AG is opening a new plant to produce liquid membranes and mortar in Chongqing, a 30-million-person city in southwestern China. By commissioning the new factory, Sika is strengthening its position in this fast-expanding urban area, which is expected to become even more significant as China creates the Chengdu-Chongqing commercial district with about one million inhabitants. Global Liquid Roofing Market: Segmentation By Type Polyurethane Coating Acrylic Coating Polyurethane/Acrylic Hybrids Coating Silicone Coating Bituminous Coating Elastomeric Coating Epoxy Coatings Others By Applications Flat Roofs Pitched Roofs Domed Roofs Others By End-User Residential Non-Residential By Regions North America Europe Asia-Pacific Latin America The Middle East and Africa