The Global Roofing Market is expected to register a 3.55% CAGR during the forecast period of 2018 to 2023.
The global roofing market is expected to witness substantial growth during the forecast period. Asia-Pacific accounted for the largest market share of 30.13% in 2017 due to the growth of the building & construction industry and the improvement in financial conditions in this region have led to the rise in the demand for roofing market. North America is estimated to be the second largest region for the roofing market due to the presence of several roof providers in the region, such as Atlas Roofing Corporation, BMI Group Services GmbH, and Carlisle Companies Inc.
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The global roofing market has been segmented based on roofing, application, and region. The roofing segments of the market are asphalt, tiles, metal, concrete, and others. By application, the market has been classified as commercial roofing, residential, and industrial.
The global roofing market has been segmented, by region, into Asia-Pacific, North America, Europe, and Rest of the World. Asia-Pacific accounted for the largest market share in 2017. Market growth is significantly driven by demand from the China and India. The growth of the building & construction industry and the improvement in financial conditions in this region have led to the rise in the demand for roofing. Moreover, industrialization and urbanization in emerging economies, such as China, India, and Japan boosting the growth of the roofing market. Hence, it is estimated that the roofing market in Asia-Pacific would register a CAGR of 3.99% during the forecast period.
The residential segment is expected to dominate the market.
Residential segment includes services, such as roof replacement and repair of roof shingles. The residential roofing segment is expected to witness significant growth owing to the rapid growth of the real estate industry in developing regions. Moreover, countries such as India and China have witnessed considerable growth in the construction of residential properties, which is further expected to stimulate the growth of the segment.
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The key players in the global roofing market are Atlas Roofing Corporation (US), BMI Group Services GmbH (US), Carlisle Companies Inc.(US), CertainTeed Corporation (US), Duro-Last, Inc.(US), Etex SA (Belgium), Firestone Building Products Company (US), GAF Materials Corporation (US), North American Roofing Services, Inc.(US), Owens Corning (US), TAMKO Building Products, Inc. (Tamko)(US), and Wienerberger AG (Austria).
- In March 2019, Atlas Roofing Corporation launched its StormMaster Core Enhanced Polymer Technology. It is focusing on offering this technology to its clients in North America.
- In October 2018, Atlas Roofing Corporation introduced its Pinnacle Pristine Natural Expressions roofing shingles. They are available in a high-definition color palette, which comprises Coastal Granite, Copper Canyon, Majestic Shake, Morning Harvest, and Summer Storm.
- In Dec 2017, Carlisle Companies Inc. spent USD 10.1 million on building a 42,000 square-foot research and development plant in Carlisle. This plant houses testing labs, support offices, and conference and collaboration spaces.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 Market Structure 16
2.4 Key Takeaways 17
2.5 Macro Factor Indicators Analysis 17
2.6 List Of Assumptions 18
3 Research Methodology
3.1 Research Process 20
3.2 Primary Research 21
3.3 Secondary Research 22
3.4 Market Size Estimation 22
3.5 Forecast Model 23
4 Market Dynamics
4.1 Introduction 25
4.2 Drivers 26
4.2.1 Rise In Construction Activities 26
4.2.2 Increased Use Of Synthetic Roofing Products 27
4.2.3 Drivers Impact Analysis 28
4.3 Restraints 28
4.3.1 Fluctuating Raw Material Prices 28
4.3.2 Lack Of Skilled Labor 29
4.3.3 Restraints Impact Analysis 29
4.4 Opportunity 30
4.4.1 Need For Energy-Efficient Roofs 30
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Keywords: Roofing, Roofing Market, Roofing Industry, Global Roofing, Roofing Market Forecast, Roofing Market Analysis