Asphalt Roof Coatings: Introduction
- Asphalt roof coatings contain asphalt fibers. These fibers bind the coating together and protect its integrity. This ensures that the finished coating is strong and holds up well over many years.
- A specially formulated roof coating is designed for usage on asphalt shingles. Its unique formulation provides excellent durability, superior fade resistance, and smooth low sheen that resists cracking, peeling, and chipping, while binding the shingles together to resist wind lift-up.
- Asphalt roofing is an ideal fit for home as economical roof protection. It is widely used fire-resistant covering. Asphalt is the kind of material that is widely used for residential roofing due to its relatively low cost and easy installation.
- Asphalt roof coating is one of the most affordable choices out of all the roofing materials that are available. This makes asphalt roof coating an ideal option for homeowners.
- No special tools are required for the installation of asphalt roof coatings. Installation time is also lower, as there is very little or no prep work is needed. Thus, it does not take as long to install an asphalt shingle roof as it might if one is using another roofing material.
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Key Drivers and Restraints of Global Asphalt Roof Coatings Market
- Significant growth of the construction industry is a key factor driving the global asphalt roof coatings market. Construction volume is expected to rise by 85% by 2030. This is likely to boost the consumption of asphalt roof coatings.
- Extreme temperature fluctuations can cause asphalt roof coatings to expand and contract, resulting in cracks. Extreme heat can also cause asphalt shingles to crack. These technical disadvantages are restricting the asphalt roof coatings market.
Asphalt Roof Coatings: System Segment
- Based on system, the asphalt roof coatings market can be segmented into modified bitumen, built-up roof, and multi-ply roof
- Built-up roofing is particularly effective for large commercial properties. Its finished membrane, which consists of alternating layers of bitumen and reinforcing fabrics, is an ideal option for flat or low slope roofs.
- Built-up roofing offers high resistance against fire & strong winds and is energy efficient
Asphalt Roof Coatings: Technology Segment
- Based on technology, the global asphalt roof coatings market can be divided into water-based and solvent-based
- Acrylic, a form of water-based roof coating, accounts for large share of the market. Acrylic coatings are popular due to their excellent low temperature flexibility and good long-term weathering resistance.
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COVID-19 Impact on Asphalt Roof Coatings Market
- Since the beginning of 2020, the global economy has been experiencing downturn with the outbreak of the COVID-19 pandemic. The COVID-19 pandemic is anticipated to significantly affect the production and distribution of asphalt roof coatings across the globe.
- Governments of several countries have imposed strict lockdowns to curb the spread of the COVID-19 pandemic. Many manufacturing companies are either shut down or running low on production capacity.
- Decrease in industrial activities due to the pandemic has been adversely impacting the global asphalt roof coatings market
North America Holds Major Share of Global Asphalt Roof Coatings Market
- In terms of region, the global asphalt roof coatings market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is the major region of the global asphalt roof coatings market. The market in the region is estimated to expand at a rapid pace during the forecast period due to the high demand for bitumen roof in the region. The U.S. is the largest consumer of asphalt roof coatings in the region.
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Key Manufacturers Operating in Global Asphalt Roof Coatings Market
The global asphalt roof coatings market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global asphalt roof coatings market include:
- Dow Corning Corporation
- Henry Company
- Aluminum Coatings Manufacturers
- Acrymax Technologies, Inc.
- Air Products and Chemicals, Inc.
- BASF SE
- APV Engineered Coatings
- RaynGuard
- Chemsol, Inc.
- BariteWorld
- Boral
- HEIDELBERGCEMENT AG
- Atlas Roofing Corporation
Global Asphalt Roof Coatings Market: Research Scope
Global Asphalt Roof Coatings Market, by Type
- Styrene Ethylene Butylene Styrene (SEBS)
- Urethane
- Silicone
- Acrylic
Global Asphalt Roof Coatings Market, by System
- Bitumen
- Built-up Roof
- Multi-ply roof
Global Asphalt Roof Coatings Market, by Technology
- Water-based
- Solvent-based
Global Asphalt Roof Coatings Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the Asphalt Roof Coatings market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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