Roofing materials are majorly used in construction industry. Residential roofing consists of installing roofs, sidings, and drainage system for roofs. Newer technologies providing durable and energy efficient roofing for their homes and work places are increasingly being acknowledged by consumers across the world. Emerging economies like China, Brazil and India create significant opportunities for new opportunities used in global Roofing Market. The market is mainly driven by rising commercial real estate investments, growing popularity of eco-friendly roofing technologies, and development of efficient and advance technology in roofing materials as well as growing building renovations. Global roofing market is estimated to grow with a CAGR of XX% from 2016-2022.
Bituminous roofing is the largest product segment of the roofing market due to high use in commercial sector of developed countries. Roofing metal is estimated to have highest share in this market in residential segment, whereas asphalt shingle roofing is mainly used in the remodeling segment of this market. Moreover, fiber cement and plastic roofing materials are the commonly used roofing materials in emerging as well as underdeveloped economies. As fiber cement and plastic roofing are light in weight and are available at low costs, demand for them is estimated to rise during the forecast period. Moreover, consumers are looking for low costing, durable, easily installable as well as eco-friendly roofing materials, hence, solar panel based roofing’s are getting popular.
The demand for energy efficient, sustainable and eco-friendly roofing materials continues to grow in North America and Europe. Asia Pacific region dominated the global roofing market in 2015, followed by North America mainly due to escalating construction industry. Furthermore, fastest growth is also projected in Asia Pacific owing to rising metal and fiber industries, government policies to increase energy efficient homes and rising number of residences. New construction roofing is largest revenue generating application of Roofing Market as numerous new constructions have been taking place in emerging economies.
Acquisition, collaboration and product launches are the key strategies adopted by the major players in order to enhance their market share. These benefits of Roofing Market are certainly augmenting the value of their services to the end-users. Major companies operating in this market are Atlas Roofing Corporation (U.S.), Duro-Last Roofing, Inc., CertainTeed Corporation, Braas Monier Building Group Services S.A., GAF, Johns Manville and others. The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants. The study includes the demand of this particular market on a global and regional scale for a seven year period of 2016-2022.