Roofing Adhesive Market to Grow by USD 1.75 Billion During 2020-2024

Strategic Insights -

As the COVID-19 pandemic continues to spread globally, businesses across various industries are experiencing unprecedented challenges. The roofing adhesive market is no exception, with a significant negative impact expected during the forecast period. However, as governments and organizations begin to flatten the recessionary curve by leveraging technology, the market is expected to recover and witness a CAGR of over 6% during the forecast period. The market is driven by increasing demand from emerging economies, growth in the building and construction industry, and the need for roofing adhesives in non-residential and residential applications.

Key Takeaways:

  • The roofing adhesive market will grow by USD 1.75 billion during 2020-2024, according to Technavio.
  • The market will witness a negative impact during the forecast period due to the widespread growth of the COVID-19 pandemic.
  • Enterprises will go through Response, Recovery, and Renew phases, with building business resilience and enabling agility aiding organizations to move forward.
  • The market is driven by increasing demand from emerging economies and growth in the building and construction industry.
  • Major participants in the market include 3M Co., Arkema SA, and Bridgestone Corp., which operate through various segments such as Safety and Industrial, High-Performance Materials, and Diversified products business.
  • The market is segmented by type, geography, application, and technology, with significant growth expected in the polyurethane resins segment and the non-residential application segment.
  • The market is expected to witness a CAGR of over 6% during the forecast period.

Statistics:

  • USD 1.75 billion: expected market growth during 2020-2024.
  • 6%: expected CAGR during the forecast period.
  • 17,000+ market research reports: Technavio's report library consists of.
  • 500 specialized analysts: part of Technavio's research and advisory team.
  • 100 Fortune 500 companies: part of Technavio's client base.

Sources:

  • Business Wire: "Roofing Adhesive Market to Grow by USD 1.75 Billion During 2020-2024 | Technavio"
  • Technavio: "Global Roofing Adhesive Market 2020-2024"
  • Business Wire: "https://www.businesswire.com/news/home/20201228005103/en/"
  • Technavio: "www.technavio.com/report/roofing-adhesive-market-industry-analysis"