Key Highlights of Global Roofing Market
·
The
global roofing market was valued at US$
96,135.03 Mn in 2018 and is anticipated to expand at
a CAGR of 4.9% during the forecast period
·
The
global roofing market is driven by expansion in the global construction
industry. Asia Pacific accounts for major share of the global roofing market,
led by the increase in construction activities and rise in awareness about
sustainable construction materials in the region.
Key Drivers of Global Roofing Market
·
The
construction industry is a significant end-user of roofing materials. It is
expanding steadily in developing countries and sub-regions such as India,
China, ASEAN, GCC, and Africa.
·
The rate
of urbanization is on the rise in these countries and sub-regions due to the
improvement in standard of living. The roofing market is expanding rapidly with
industrialization and growth in residential and commercial developments.
·
Significant
expansion in the construction sector in developing countries and technological
advancements have boosted the adoption of quality roofing systems. The
construction industry in India and the Middle East has expanded at a rapid pace
in the last few years. This trend is expected to continue in the near future.
·
Robust
expansion in the construction industry in the UAE and Qatar due to the increase
in government expenditure on commercial and industrial projects is anticipated
to drive the roofing market in these countries. This is estimated to create
significant opportunities for roofing manufacturers, primarily in the
industrial sector.
·
Increase
in re-roofing activities for existing buildings, typically in the U.S., Canada,
and Germany, is estimated to boost the demand for roofing materials during the
forecast period. Additionally, increase in reconstruction activities in Asia
Pacific in countries such as Malaysia, Singapore, Nepal, and Sri Lanka is also
projected to drive the market during the forecast period.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=48603
Rise in Demand for Metal Roofing Likely to Offer
Attractive Growth Opportunities
·
Metal
roofing, especially steel roofing with galvanized iron or ZN-Al coating, has
been gaining momentum in commercial and industrial applications of the roofing
market since the last few years. It is also becoming increasingly popular in
residential projects including multi-story apartments, complexes, and
single-family homes.
·
Currently,
metal roofs have become a rapidly developing innovation in the home remodeling
applications, they are durable and offer exceptional protection and high
longevity. These roofing materials are recyclable and are available in a wide
range of shapes, colors, and finishes.
·
Metal
roofing is proving attractive to many homeowners as it is designed to last for
50 years. Metal roofing can accommodate green technologies such as solar
harvesting panels and water harvesting systems.
·
For
instance, the Government of India is planning to introduce tax benefits for
house owners who install metal roofs. Rise in demand for energy-efficient metal
roofs with built-in solar panels is expected to provide lucrative opportunities
to roofing manufacturers.
More Trending Reports
Volatility in Raw Material Prices Anticipated to
Hamper Roofing Market
·
The
global roofing market is prone to fluctuations in prices of raw materials such
as acrylic acid. Constant volatility in prices of raw materials is adversely
affecting the roofing market. Bitumen or asphalt is the major raw material used
in the manufacture of bituminous roofing materials, which is the leading
product segment of the roofing market. Gasoline is a key raw material for
bitumen. Demand for gasoline is still declining.
·
This has
adversely affected the supply of bitumen and asphalt. Furthermore, high cost of
manufacturing techniques such as the oxidation process have raised the
production cost of bituminous roofing. Additionally, high prices of polymer and
fiber cement are estimated to hamper the roofing market during the forecast period.
Request Covid19 analysis on this
market
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=48603
Asia Pacific Dominates Global Roofing Market
·
In terms
of region, Asia Pacific accounted for major share of the global roofing market
in 2018. Countries such as India, China, Vietnam, and
Indonesia are expected to provide lucrative opportunities to manufacturers of
roofing owing to the increase in disposable income, growth in population,
expansion in construction industry, and rise in demand for residential
complexes and industrial warehouses.
·
Demand
for retrofitting of residential complexes is significantly high in the U.S. and
Europe. This is estimated to boost the roofing market in these regions during
the forecast period. Middle East & Africa is expected to provide lucrative
opportunities to the roofing market during the forecast period due to the
rising investment in the construction sector, which consists of commercial
establishments, public infrastructure, and utilities, in the region.
·
Increase
in government expenditure on commercial and industrial projects typically in
the UAE and Qatar due to government efforts to reduce its reliance on oil
revenues is expected to drive the market in these countries. These factors are
driving the global roofing market.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=48603<ype=S
Fragmented Nature of Global Roofing
Market
·
The
global roofing market is highly fragmented. Major players operating in the
Roofing market are GAF Materials Corporation, CertainTeed Corporation, Owens
Corning Corp., Braas Monier Building Group, and Carlisle Companies
Incorporated.
·
Market
players are developing new products to widen their consumer base. This is
likely to intensify the competition in the global roofing market in the next
few years.
About Us
Transparency Market Research is a
global market intelligence company providing global business information
reports and services. Our exclusive blend of quantitative forecasting and
trends analysis provides forward-looking insight for thousands of decision makers.
Our experienced team of analysts, researchers, and consultants use proprietary
data sources and various tools and techniques to gather and analyze
information.
Our data repository is continuously
updated and revised by a team of research experts so that it always reflects
latest trends and information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary research
techniques in developing distinctive data sets and research material for business
reports.
Contact
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Comments
Post a Comment