The new report by Expert Market Research titled, ‘Global Roofing Materials Market Price, Trends, Growth, Analysis, Report and Forecast 2020-2025′, gives an in-depth analysis of the global roofing materials market, assessing the market based on its segments like products, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 121.5 billion
- Forecast CAGR (2020-2025): 5%
- Forecast Market Size (2025): USD 162.7 billion
The construction industry is being driven by the rapid urbanisation and the growth of the populations living in urban regions. This is directly correlated to the growth of the roofing and roofing materials industry. Modern roofing materials and designs are being used to reduce the energy required for temperature regulation inside buildings, such as air-conditioning systems. The market for such products is growing steadily due to the demand for green building constructions.
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The Asia Pacific is witnessing a steady growth in the construction sector, which will aid the overall market for roofing materials. This is due to the increasing quality-of-life in the region, which is resulting in the increased construction of commercial buildings, such as multiplexes, shopping complexes, and others.
Industry Definition and Major Segments
A roof is the covering of a building, supported on the walls of the building or on uprights. Its primary purpose is to provide protection against weather conditions. It may be self-supporting or supported by additional structures. The materials used in the manufacture and application of roofing are known as roofing materials.
The various products available in the industry are:
- Asphalt Shingles
- Concrete and Clay Tile Roofs
- Metal Roofs
- Elastomers and Plastic Roofs
Roofing materials find their applications in the following areas:
The major regions of the market include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The key highlights of the report include:
Due to the increasing environmental consciousness globally, consumers, especially in developing countries are expected to opt for sustainable, eco-friendly roofing materials, such as clay and concrete. There is also expected to be increased demand for more advanced roofing technology and materials in order to reduce the energy consumption of air-conditioners and other temperature-regulating appliances in buildings. The buildings in developed countries are also shifting towards roofs capable of supporting vegetation coverage, known as green roofs. These factors are expected to drive the growth of the global roofing materials market in the coming years.
Key Market Players
The major players in the market are BMI Group, Fletcher Building (NZE: FBU), Owens Corning (NYSE: OC), Atlas Roofing Materials Corporation, TAMKO Building Products LLC, GAF Materials LLC, and CertainTeed, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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