Commercial Roofing Materials Market : Manufacturers Hot on the Tracks of Global Construction Boom 2024

Global Commercial Roofing Materials Market: Overview

The report covers the analysis and forecast of the commercial roofing materials market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons).

The study provides a detailed view of the commercial roofing materials market by segmenting it based on building type and materials type. On the basis of building type, the commercial roofing materials market has been further segmented into low sloped roofing and steep sloped roofing. The commercial roofing materials market has been segregated on the basis of materials type into single ply products, modified bitumen materials, spray polyurethane foam, built-up roofing, metals and others types of commercial roofing materials. Single ply roofing has been further segregated into ethylene propylene diene monomer, thermoplastic polyolefin and polyvinyl chloride.

Regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual product and applications in all regions.

The competitive profiling of the key players in the global commercial roofing materials market across five broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of commercial roofing materials.

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According to a research report released by Transparency Market Research, the global commercial roofing materials market was consistently dominated by North America till recently. This region held a high demand for all segments of roofing within the market. At the same time, the emergent economies are showing extremely positive growth rates in their construction activities, sparing a long term demand for commercial roofing materials. In terms of revenue, the global commercial roofing materials market is expected to be valued at US$7.81 bn by the end of 2016. After expanding at a CAGR of 3.6% from 2016 to 2024, this market’s revenue is expected to reach US$10.38 bn in 2024.

Construction Boom Primary Propeller for Commercial Roofing Materials’ Demand

“New construction generates a far greater demand for commercial roofing materials than restoration and renovation work. With that in mind, the accelerating rate of activities in the global construction industry over the recent past have formed the leading driver for the global commercial roofing materials market. After witnessing a severe downturn till 2008, the rate of construction activities across the world took off on a massive scale. A lot of the overall demand for commercial roofing materials is projected to continue coming from Asia Pacific, one of the leading regions when it comes to growth in demand for modern construction projects,” States a TMR analyst.
Other factors augmenting the global commercial roofing materials market at the moment include the growing use of roofing systems that incorporate singly-ply products due to their higher flexibility, ease of installation, and competitive pricing. Another driver for the market is the growing rate of restoration and renovation activities in developed economies where commercial roofing materials are found to be of great value.

Installation Costs High Enough to Hamper Overall Growth Rate

One of the key restraints currently acting on the global commercial roofing materials market is the high cost of installation of these roofs. Commercial roofing today incorporates several additions such as cool roofing and solar panel roofing to meet consumer demands. This, however, is leading to an inflation of prices of installing these roof types due to the high cost of the raw materials involved. Solar roofing is known to be highly expensive and commonly seen only in developed economies for the same reason. Thus price is currently a very restrictive concern for players in the global commercial roofing materials market.

“Despite pricing concerns, the global commercial roofing materials market is expected to progress at a very fast rate over the coming years, in terms of product developments. Advancements in technology can make manufacturing of commercial roofing a lot cheaper and help players gain a greater regional penetration. They can also allow players to derive successful product innovations that can help reduce costs and enhance scope of utility,” adds the analyst.

The information presented in this review is based on a Transparency Market Research report, titled, “Commercial Roofing Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”

Key segments of the Global Commercial Roofing Materials Market

Global Commercial Roofing Materials Market: By Building Type
-Low Sloped Roofing
-Steep Sloped Roofing

Global Commercial Roofing Materials Market: By Materials Type
-Single-Ply Products
-Modified Bitumen Materials
-Spray Polyurethane Foam (SPF)
-Built-Up Roofing (BUR)
-Metals
-Others

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Global Commercial Roofing Materials Market: By Geography
-North America
-U.S.
-Canada
-Mexico
-Europe
-U.K.
-Germany
-Italy
-Rest of Europe

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This release was published on openPR.