HOME › Research Insight › Expansions Was the Key Growth Strategy Adopted by Industry Players in the Global Roofing Chemicals Market. This Strategy Accounted for a Share of 37%, Between 2011 and 2016
Expansions Was the Key Growth Strategy Adopted by Industry Players in the Global Roofing Chemicals Market. This Strategy Accounted for a Share of 37%, Between 2011 and 2016
The global roofing chemicals market is projected to reach USD 106.83 Billion by 2021, at a CAGR of 7.3% from 2016 to 2021. The growing demand from major application industries such as building & construction, and other industrial applications in emerging economies, are driving the global roofing chemicals market.
Expansions was the key growth strategy adopted by industry players in the global roofing chemicals market. This strategy accounted for a share of 37%, between 2011 and 2016, of all the growth strategies adopted by market players. Besides expansions, companies are investing in new product developments to expand their roofing chemicals portfolios across the world. The new product development strategy accounted for a 33% share of all the development strategies between 2011 and 2016. Companies are also focusing on the mergers & acquisitions strategy which accounted for a 24% share between 2011 and 2016. The Asia-Pacific region was the most active region from 2011 to 2016, in terms of strategic initiatives, and expansions was one of the preferred strategies.
Major manufacturers such as BASF SE (Germany), The Dow Chemical Company (U.S), Saint-Gobain S.A. (France), 3M Company (U.S), Akzo Nobel N.V (The Netherlands), Sika AG (Switzerland), Owens Corning (U.S), Carlisle Companies Incorporated (U.S), Johns Manville (U.S), GAF Materials Corporation (U.S) and Firestone Building Products (U.S) are profiled in this report. These companies have adopted both, organic and inorganic growth strategies.
BASF SE (Germany), The Dow Chemical Company (U.S), Saint-Gobain S.A. (France), 3M Company (U.S), and Akzo Nobel N.V (The Netherlands) are among the most active players in the global roofing chemicals market.
The Dow Chemical Company (U.S) is the most active player in the roofing chemicals market. It accounted for the largest share of all the developmental activities undertaken in the roofing chemicals market. As a part of its strategy, the company focuses on expanding its roofing chemicals business by investing in new product development activities, mergers & acquisitions and expansions. In December 2015, The Dow Chemical Company (U.S.) and DuPont (U.S.) announced a merger with a definitive agreement under which the companies combined in an all-stock merger of equals. The combined company was named DowDuPont. In October 2014, Dow‘s Construction Chemicals, a subsidiary of The Dow Chemical Company, launched a new technology, which meets the growing demand for energy-efficient cool reflective roof coatings or cool roofs in the Middle East.
Another company that has established a strong foothold in the global roofing chemicals market is Sika AG (Switzerland). The company is focused on both, organic and inorganic growth strategies. Sika expanded its R&D activities by opening a state-of-the-art research facility in Preston in Northwest England. The company has continued to invest in the roofing chemicals business with the aim of the development of technologically advanced and environmentally friendly roofing membranes. Further, in February 2014, the company acquired Lwart Química Ltd. (Brazil), a leading manufacturer of waterproofing systems in Brazil. This acquisition has strengthened Sika Group’s position in the Brazilian construction chemicals market.
Roofing Chemicals Market by Type (Acrylic Resin, Asphalt/Bituminous, Elastomer, Epoxy Resin, and Styrene), Application (Membrane, Elastomeric, Bituminous, Metal, and Plastic Roofing Materials) - Global Forecast to 2021
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