Liquid Roofing Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 268.81 Million square meters |
| Market Volume (2029) | 334.74 Million square meters |
| CAGR (2024 - 2029) | > 4.48 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Liquid Roofing Market Analysis
The Liquid Roofing Market size is estimated at 268.81 Million square meters in 2024, and is expected to reach 334.74 Million square meters by 2029, at a CAGR of greater than 4.48% during the forecast period (2024-2029).
The initial impact of COVID-19 was a demand slump in the liquid roofing market in 2020. However, the market showed signs of recovery in 2021 and 2022, and the long-term outlook appears positive.
- Increasing construction and renovation activities and superior properties over existing alternatives drive the demand for the liquid roofing market.
- However, stringent building codes and regulatory standards may hinder the growth of the liquid roofing market in the near future.
- The growing demand for eco-friendly roofing solutions is likely to provide opportunities for the liquid roofing market over the next five years.
- The Asia-Pacific region dominates the liquid roofing market, owing to the increasing consumption of liquid roofing from countries like China, India, etc.
Liquid Roofing Market Trends
Residential Segment to Dominate the Market
- In residential settings, liquid roofing is applied to flat roofs, balconies, and terraces, offering a seamless, flexible, and durable solution to prevent leaks and water damage.
- Rising renovation and retrofitting projects in urban areas, especially for older residential buildings, are fueling the adoption of liquid roofing systems. Homeowners favor these systems for their capability to restore roof surfaces without necessitating a complete replacement.
- Liquid roofing finds application in green roof systems as a waterproof base layer and in solar panel installations, providing a sturdy surface for mounting solar equipment while ensuring waterproofing and insulation.
- Moreover, smart liquid roofing systems, now integrated with IoT sensors, are becoming increasingly popular. They enable homeowners and building managers to monitor roof conditions and schedule proactive maintenance.
- The residential segment has been a significant contributor to the liquid roofing market. According to the Royal Institution of Chartered Surveyors, the construction industry is expected to grow by USD 4.5 trillion to a total of USD 15 trillion between 2020 and 2030. China, India, the United States, and Indonesia are expected to account for 58.3% of the share in global construction between 2020 and 2030.
- The construction sector is an important pillar for the growth of the Indian economy. The Indian government has been actively boosting housing construction, aiming to provide houses to about 1.3 billion people.
- The USD 30 million Arkade Aspire Residential Complex project entails the construction of a 35,366 sq. m. residential complex with two 18-story residential towers in Mumbai, India. Construction began in Q2 2022 and is expected to be completed in Q1 2025.
- In North America, the United States has a major share in the construction industry. Besides the United States, Canada and Mexico contribute significantly to the investments in the construction sector. According to the US Census Bureau, the new annual construction output in the United States grew by over 131 USD billion in 2023, as compared to 2022. Therefore, the growth in the construction industry will likely drive the current market studied in the country.
- Thus, the increasing residential construction activities are expected to increase the demand for liquid roofing during the forecast period.
Asia-Pacific Region to Dominate the Market
- According to Oxford Economics, the global construction industry is expected to grow by USD 4.5 trillion, or 42%, between 2020 and 2030. Additionally, China, India, the United States, and Indonesia are expected to account for 58.3% of global growth in construction between 2020 and 2030.
- Factors such as expansion in the residential and commercial construction sector will drive the market growth in the region.
- Liquid membranes are becoming increasingly popular in residential construction for waterproofing purposes. Their ability to form a seamless and flexible barrier makes them suitable for various applications such as roofs, foundation walls, basements, and others, ensuring long-lasting protection against water damage.
- The Chinese market for liquid membranes includes various types, such as bituminous, elastomeric, and cementitious membranes, catering to applications in roofing, walls, and broader infrastructure.Leading companies in China are scaling up production while adhering to stringent quality standards, utilizing both polymer-based and advanced inorganic materials to produce high-performance membranes. These membranes are extensively used for waterproofing and separation processes, with demand driven by rapid urbanization and large-scale infrastructure projects.
- In China, the housing authorities of Hong Kong launched several measures to push start the construction of low-cost housing. The officials aim to provide 301,000 public housing units by 2030.
- Additionally, the Chinese government has rolled out massive construction plans, which include making provisions for the movement of 250 million rural people to its new megacities by 2025, creating a significant scope for liquid membranes.
- India has a vast construction sector and is expected to become the world’s third-largest construction market. Various policies implemented by the Indian government, such as the Smart Cities project, Housing for All, and Sustainable Urban Development, are expected to give the Indian construction industry the impetus.
- The availability of affordable housing in India is expected to rise by around 70% by 2024. As per Invest India, India’s construction industry is expected to reach USD 1.4 trillion by 2025. By 2030, more than 30% of the population is expected to live in urban India, creating a demand for 25 million additional mid-end and affordable units.
- Several new commercial construction projects have been started in the country, increasing the demand for the market studied.
- For instance, in the third quarter of 2023, the construction of Infosys Pocharam Office Campus, which includes the expansion of an office campus with a floor area of 761,804 sq. m, was initiated and is expected to be completed by the end of Q3 2027.
- During the same period, the construction of the Bhimunipatnam Hotel was started in Andhra Pradesh, covering an area of 17 hectares. The project aims to provide better hospitality and leisure facilities in the region and is estimated to be completed by the third quarter of 2025.
- Hence, all such market trends are expected to drive the demand for liquid roofing market in the region during the forecast period.
Liquid Roofing Industry Overview
The Liquid Roofing Market is fragmented in nature. The major players (not in any particular order) include Standard Industries Inc., Johns Manville, SOPREMA Group, Saint-Gobain, and Sika AG, among others.
Liquid Roofing Market Leaders
-
Standard Industries Inc.
-
Sika AG
-
SOPREMA Group
-
Saint-Gobain
-
Johns Manville
*Disclaimer: Major Players sorted in no particular order
Liquid Roofing Market News
- Oct 2024: Mapei acquires Wykamol, a local manufacturer, to bolster its UK presence. Through Mapei UK, the company aims to enhance its waterproofing product lineup.
- February 2024: Mapei S.p.A. acquires Bitumat, a waterproofing specialist and manufacturer of liquid-applied membranes in Saudi Arabia, to strengthen its foothold in the Middle East. Bitumat’s reach might enable the Mapei Group to tap into key source markets, aligning with its expansion strategy in the region.
Liquid Roofing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Construction and Renovation Activities
4.1.2 Superior Properties Over Existing Alternatives
4.2 Restraints
4.2.1 Stringent Building Codes and Regulatory Standards
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Type
5.1.1 Polyurethane Coatings
5.1.2 Acrylic Coatings
5.1.3 Bituminous Coatings
5.1.4 Silicone Coatings
5.1.5 Epoxy Coatings
5.1.6 Other Types (Modified Silane Polymers, EPDM Rubbers, Elastomeric Membranes, Cementitious Membranes, and Epoxy Coatings)
5.2 Application
5.2.1 Domed Roofs
5.2.2 Pitched Roof
5.2.3 Flat Roofed
5.3 End-user Industry
5.3.1 Residential
5.3.2 Commercial
5.3.3 Industrial/Institutional
5.3.4 Infrastructure
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Malaysia
5.4.1.6 Thailand
5.4.1.7 Indonesia
5.4.1.8 Vietnam
5.4.1.9 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Spain
5.4.3.6 NORDIC Countries
5.4.3.7 Turkey
5.4.3.8 Russia
5.4.3.9 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Colombia
5.4.4.4 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Nigeria
5.4.5.4 Qatar
5.4.5.5 Egypt
5.4.5.6 UAE
5.4.5.7 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel NV
6.4.2 Carlisle Companies Inc.
6.4.3 Johns Manville (A Berkshire Hathaway Company)
6.4.4 Mapei S.p.a.
6.4.5 RPM International Inc.
6.4.6 Saint-Gobain
6.4.7 SIG PLC
6.4.8 Sika AG
6.4.9 Soprema Group
6.4.10 Standard Industries Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand For Eco-friendly Roofing Solutions
Liquid Roofing Industry Segmentation
Liquid roofing is a liquid material applied to a roof or top surface of a construction to create a watertight layer or membrane. It is highly used for flat roofs, pitched roofs, and, in some cases, domed roofs. Liquid roofing is mainly made from acrylics, polyurethane, bitumen, silicone, and epoxy materials and is used for roofs and top surfaces of residential, commercial, industrial, and institutional buildings and infrastructure.
Liquid roofing Market is segmented into type, application, end-user industry, and geography. By type, the market is segmented into polyurethane coatings, acrylic coatings, bituminous coatings, silicone coatings, epoxy coatings, and other types (modified silane polymers, liquid butyl rubber, elastomeric liquid coatings, and cementitious liquid membranes). By application, the market is segmented into domed roofs, pitched roofs, and flat roofs. By end-user industry, the market is segmented into residential, commercial, industrial/institutional, and infrastructure. The report also covers the market size and forecasts for the Liquid Roofing Market in 27 countries across the Asia-Pacific region. For each segment, the market sizing and forecasts were made on the basis of volume (square meters).
| Type | |
| Polyurethane Coatings | |
| Acrylic Coatings | |
| Bituminous Coatings | |
| Silicone Coatings | |
| Epoxy Coatings | |
| Other Types (Modified Silane Polymers, EPDM Rubbers, Elastomeric Membranes, Cementitious Membranes, and Epoxy Coatings) |
| Application | |
| Domed Roofs | |
| Pitched Roof | |
| Flat Roofed |
| End-user Industry | |
| Residential | |
| Commercial | |
| Industrial/Institutional | |
| Infrastructure |
| Geography | |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
|
Liquid Roofing Market Research FAQs
How big is the Liquid Roofing Market?
The Liquid Roofing Market size is expected to reach 268.81 million square meters in 2024 and grow at a CAGR of greater than 4.48% to reach 334.74 million square meters by 2029.
What is the current Liquid Roofing Market size?
In 2024, the Liquid Roofing Market size is expected to reach 268.81 million square meters.
Who are the key players in Liquid Roofing Market?
Standard Industries Inc., Sika AG, SOPREMA Group, Saint-Gobain and Johns Manville are the major companies operating in the Liquid Roofing Market.
Which is the fastest growing region in Liquid Roofing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Liquid Roofing Market?
In 2024, the Asia Pacific accounts for the largest market share in Liquid Roofing Market.
What years does this Liquid Roofing Market cover, and what was the market size in 2023?
In 2023, the Liquid Roofing Market size was estimated at 256.77 million square meters. The report covers the Liquid Roofing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Liquid Roofing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Liquid Roofing Industry Report
Statistics for the 2024 Liquid Roofing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Liquid Roofing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Liquid Roofing Market Report Snapshots
