Liquid applied roofing has been the fastest growing segment of the commercial roofing market recently, estimated to grow nearly 10% per year through 2019. This growth rate is nearly three times that of the overall commercial roofing market as a whole which is driven by overall economic conditions, major weather events and the industry’s interest in “green” building concepts.
Total demand for liquid applied roofing in North America was valued at $746 million based on the manufacturers’ factory gate level in 2015. Increased interest in liquid applied roofing across restoration and new construction will drive market penetration by an additional 1% to 2% during the forecast period, resulting in accelerated growth rate of liquid applied roofing over traditional commercial roofing materials.
Acrylic liquid applied roofing is the most widely used product and accounted for 50% of total volume in 2015. The choice of acrylics has been technical and economical as it does not bake out or become brittle as asphaltic types do. Acrylic applications are most common in the Southwestern and Western climates due to its use as a reflective coating.
Existing Structures Continue to Drive Growth
The fastest growing applications for liquid applied roofing are forecast to be in restoration projects with nominal growth in reroofing. Restoration is projected to grow at 10.5% annually compared with 5.7% for new construction and 3.5% for tear-off construction. Liquid applied roofing will gain share in the commercial roofing space and primarily in the restoration construction type as it is projected to continue to find acceptance as a partial reroof solution as well as new roof applications over concrete decks.
Liquid Applied Roofing 2016 is Principia’s first exclusive coverage of the liquid applied market and provides a detailed analysis on the current and future state of this segment of the roofing industry. Principia’s knowledge in the market is driven through its historical coverage of the commercial roofing market through various reports dating back to 2008. The report draws upon interviews with nearly 600 manufacturers, distributors and dealers, roofing contractors and property owners. Using 2015 as its launch point, the report analyzes demand drivers and trends by material, application, construction type, region, distribution channel and supplier, providing forecasts through 2019.
“When reviewing our product development schedule, we couldn’t overlook the overwhelming interest and feedback from the industry regarding liquid applied roofing. Through in-depth conversations during our recent research efforts on the overall commercial roofing market there were signs that something was going on that warranted further investigating. This market assessment validates there is opportunity for growth and investments to be made”, states Susanna Ross, Industry Analyst at Principia.