The “Global Roofing Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study that is available on Decisiondatabases.com provides a detailed outlook of the market along with an evaluation on the growth trends, market drivers, opportunities and restraints of the global roofing market. The report foresees the global roofing market to reach over USD 140 BN by 2026 along with a CAGR of 6% from 2019-2026. The market was valued at USD 85 BN in 2018.
Roofing refers to the protective covering which ensures safety to the roof of a residential or commercial building from all kinds of weather conditions. Roofing materials are used to protect the roof of a house, residential and commercial buildings, schools, consumer stores, airports, railway stations and other non-residential buildings.
The rapid growth in the global population has led to a significant rise in the demand for new constructions to meet the needs of the population in both the residential and non-residential sectors. The upcoming trend of using reflective coatings for dark-colored roofing materials which in turn enable better heat reflection and reduce overall energy requirements is expected to fuel the expansion of the market. In addition to this, evolving technology to improve the installation and aesthetics of the roofing materials is projected to boost the demand for the product. The market also exhibits the presence of a large number of substitutes including living roofs, restoration coatings and solar & SPF roofs.
By product, bituminous, metal, tile, fiber cement and plastic are the segments of the global roofing market. Bituminous roofing was found out to be the leading segment with over 40% of the market shares owing to the waterproofing ability of bituminous roofing materials. The change in climatic patterns and bad weather conditions worldwide are also factors which immensely affect the growth of the global roofing market. Besides, urbanization has led to an increased number of residential buildings and apartments which in turn have fuelled the growth of the global roofing market. Also, the demand for better quality roofs and massive development in the construction industry are also factors driving the growth of the market. By application, residential, commercial and non-residential construction are the classifications provided for the global roofing market as per the study. Non-residential constructions have emerged as the leading segment application-wise with over 40% of the market shares.
By geography, Asia Pacific, North America, Europe, Latin America and Middle East & Africa are the segments of the global roofing market. Asia Pacific was found to be the leading region with over 40% of the market shares followed by North America. The inconsistent rainfall patterns, unwanted rains and immense growth of the construction industry are factors responsible for the growth of the market in the Asia Pacific region.
The key players of the global roofing market profiled in the study are Braas Monier Building Group S.A., Beacon Roofing Supply, IKO Industries Ltd., CertainTeed Corporation, Owens Corning, GAF Materials Corporation and Johns Manville among others. Each key player is covered in detail in terms of H.Q., future capacities, key mergers and acquisitions, financial overview, partnerships, collaborations and new product launches & developments in the study.
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