Market Insights
The North American Liquid Applied Roofing Market is estimated to grow at a healthy CAGR of 4.3% during the forecast period to reach US$ 0.7 billion in 2028.
Liquid applied roofing offers numerous advantages for both a new roofing system on a fresh roof deck or as a re-roofing solution for an existing deck, with the primary purpose being the extension of the lifespan of the roofing system and the attainment of a reflective roof surface. It proves to be an excellent solution for the majority of roofs in North America. An illustrative example of their effectiveness is evident in their use to restore the roof of the Superdome in New Orleans after the devastation caused by Hurricane Katrina.
Liquid applied roofing has been gaining traction in the North American market driven by a host of factors, such as safeguarding the roof membrane beneath against extreme thermal expansion and contraction and having the potential to prolong the roof's lifespan. Furthermore, opting for a reflective roof coating can lead to energy conservation by deflecting the sun's rays and maintaining cooler temperatures inside the building on hot days. Additionally, it offers a less disruptive and eco-friendly approach, as it eliminates the need for roof tear-off, preventing old roofing materials from ending up in landfills.
Following the Great Recession of 2008, the commercial roofing industry faced significant challenges due to reduced new roof construction and renovation projects. To adapt and cut costs, roofing companies began embracing liquid roofing practices and training their employees accordingly. Liquid roofing systems required less-skilled labor compared to traditional tear-offs and replacements, making it a cost-effective alternative. As a result, commercial roofers, building owners, and property managers turned to liquid roofing to provide practical and less-expensive solutions. Post-2008, liquid membrane roofing established itself as an effective commercial roofing option, leading to its continuous growth. Today, nearly every major commercial roofing manufacturer offers its own line of liquid-applied roofing solutions, cementing liquid roofing's position as one of the fastest-growing segments in the industry.
Recent Market JVs and Acquisitions:
Over the years, the market has witnessed a notable number of merger and acquisition (M&A) transactions. Some of the notable acquisitions over the past few years include the acquisition of IKO Industries by Sika in 2021 and Gardner Gibson by ICP Building Solutions Group in 2021.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Material-Type Analysis
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Acrylic, Asphalt, Polyurethane, Silicone, and Others
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Acrylic is expected to remain the most preferred material during the forecast period.
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Substrate-Type Analysis
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Bitumen, Concrete, and Others
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Concrete is likely to remain the largest segment by substrate type in the years to come.
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Roof-Type Analysis
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Flat Roof, Pitched Roof, and Others
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Flat Roofs are expected to maintain their dominance during the forecasted period.
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End-User -Type Analysis
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Commercial, Residential, and Industrial
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Commercial end-user segment to dominate the market during the study period.
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Construction -Type Analysis
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New Construction and Repair & Renovation
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Repair & Renovation to dominate the market during the study period.
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Country Analysis
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USA, Canada, Mexico
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The USA is expected to remain the largest market over the next five years.
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Material Types
The market is segmented into acrylic, asphalt, polyurethane, silicone, and others. Acrylic is poised to retain its dominant position in the North American Liquid Applied Roofing Market. The popularity of acrylic roofing solutions has surged due to their versatile and cost-effective nature, making them feasible over different roofing substrates such as metal, single-ply membranes, built-up roofs, and modified bitumen systems. They contribute to energy efficiency by reflecting solar heat and reducing cooling loads, leading to potential energy savings. Their UV resistance prolongs the lifespan of roofing systems by preventing premature degradation, while their flexibility allows them to accommodate roof movements without cracking.
Substrate Type
Among substrate types, concrete is poised to maintain its dominance during the forecast period. Concrete roofs are constructed with a mixture of cement, aggregates, and water, providing exceptional durability and weather resistance. They are ideal for flat or low-sloped roofs and offer a long lifespan. Concrete substrates are relatively heavy, and their installation may require additional structural support. On the other hand, bitumen roofs, also known as asphalt roofs, comprise layers of bitumen-saturated organic or fiberglass felts. They also account for a reasonable market share and are commonly used in both residential and commercial roofing applications owing to their flexibility and ease of installation. Bitumen roofs are lighter than concrete roofs, making them suitable for a broader range of buildings. However, they may have a shorter lifespan compared to concrete roofs and might require more frequent maintenance.
Country Analysis
The USA region is poised to remain the largest country in the North American Liquid Applied Roofing market during the forecast period. The region is the hub of major players such as Carlisle Companies Inc., The Garland Company, Sika USA, Johns Manville, GAF Materials, Western Colloid, American Weatherstar, and Polyglass USA, catering to the domestic as well as international roofing market. Inceasing housing starts, strong re-roofing demand, and stricter building energy codes in the country have led to the dominance of the country’s market in the region.
The north american liquid applied roofing market is segmented into the following categories:
By Material Type
- Acrylic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Asphalt (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyurethane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Silicone (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Substrate Type
- Bitumen (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Concrete (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Roof Type
- Flat Roof (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Pitched Roof (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By End-User Type
- Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Construction Type
- New Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Repair & Renovation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Country
- The USA (Trend and Forecast)
- Canada (Trend and Forecast)
- Mexico (Trend and Forecast)
Key Players
The market landscape is characterized by a multitude of local, regional, and global players, resulting in a densely populated market environment. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The market exhibits a high degree of fragmentation, with numerous players competing both regionally and globally. Some of the key players catering to the North American Liquid Applied Roofing Market are as follows:
- Sika AG
- Dow Inc.
- GAF Materials
- Saint-Gobain
- Carlisle Companies, Inc.
- RPM International Inc.
- Polyglass USA
- The Garland Company
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s North American Liquid Applied Roofing Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
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Company Profiling
- Detailed profiling of additional market players (up to five players)
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