Modern day infrastructure projects are heavily dependent on roofing adhesives, an apt name for a construction material that is made from natural and synthetic polymers and is primarily used to bind two surfaces together. The global construction market stood at a whopping USD 15 billion in 2015 and was evenly influential in both developing countries such as India and China, as well as in developed economies such as the US, France and UAE. A subset of this vast production, the Global Roofing Adhesive Market is estimated to grow to a massive USD 5,699.6 million by 2021.
Sticking Around for the Long Haul- Impressive CAGR and Destinations
In the insightful market research report published by the market research and analysis major Technavio, the latter points at the booming of the global construction market and its manifestation in such geographies as the US, Japan, China, France, the UAE, Qatar, India and Saudi Arabia. It must be noted that in countries like Qatar and Saudi Arabia, the infrastructure industry is serving as a proposed replacement for the crude oil aligned sectors. As the wells eventually dry up, the infrastructure projects, in robust buildup stages today, are expected to keep the foreign exchange and world attention coming. Technavio predicts a consistent 6% plus CAGR across the 2016- 2021 timeframe for the roof adhesive industry.
The Market View – Emerging Trends
Technavio, on the back of expertly accrued data that points at key market trends in the global roofing adhesive market, maintains that an enhanced investment in the construction industry, innovation and focus on better roofing designs alongside the development of environment friendly roofing systems, are key market trends that will drive this sector in the specified timeframe between 2017- 2021. As a major component of the global construction industry, the roofing adhesives sector will witness major investments and innovations in the aforementioned financial timeline.
Sticky Situation- Roadblocks to Avoid
In terms of challenges, the industry must be wary of environmental organizations that have accused them of putting forth massive quantum of volatile organic compounds (VOC) as emissions. Then there are the fluctuating prices of the raw materials that are sourced from the oil and gas industry. Unfortunately, the concerns of stability in the price of crude oil at the international stage always has a bearing on these raw materials as well. Additionally, there are regulatory hurdles including Federal laws that demand construction practices that are eco-friendly, or cautious rules that succeed a massive socio-economic crisis such as recession, terror attacks, etc. The infrastructure/construction industry is particularly susceptible to such variations, and associatively, the roofing adhesives market suffers too.
Future World- Key Market Trends Driving Growth
Through 2017- 2021, the ever-burgeoning urban populations of the world will need more housing and shelter. The global housing market will slowly recover from the battering it took through the 2008-2012 economic recession, and consequently, the construction industry will rake in big profits and sustained momentum. Most of this high demand will come from emerging economies such as India and China. And while the construction industry is expanding fast- taking roofing adhesives sector for the ride too- the demand for green roofing systems will silently take precedence. This follows the usual balancing act where unchecked and potentially destructive growth of an industry, finally catches up with the civic sense of responsibility, and measures are demanded to rebalance the progress versus nature equation.
The Technavio Advantage – Everything You Need to Know…
At Technavio, understanding a business specialty, unearthing the primary trends and forecasting emerging patterns is part of an honest day’s work. While the Global Roofing Adhesive Market is set to grow by leaps and bounds, your distinct share of the pie may be hard to pinpoint accurately. Herein, Technavio’s customized industry research report will help you understand your market, the audience and possible corrective measures that will drive brand recognition and profits. It’s that simple.
You can also
