Global Roofing Market - Rampant Infrastructural Development to Provide Robust Growth

The global roofing market is anticipated to grow at a significant rate owing to rise in construction activities all across the world, notices ResearchMoz.us in their report titled, Roofing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”. The 302-pages report offers a detailed analysis on the recent happenings in the market. Analysts of the report have provided various potential aspects banking on which the market is anticipated to rise. The report provides various market dynamics, such as trends, opportunities, technological development, and restraints which are likely to have a tremendous impact on the growth of the market during the forecast period. The global roofing market is predicted to expand at 6.5% of CAGR during the mentioned period.

The major driver that is carrying the global roofing market is exponential growth of the construction industry particularly in the developing countries. Rapid urbanization has favored the construction activity to rise which has directly influenced the roofing market to grow. Stable emigration particularly from the underdeveloped region or rural areas is likely to form the base of the market. Rampant espouse of environmentally oriented roofing systems is anticipated to uplift the sales of the roofing market in future. Rapid technological advancement in the construction market which are energy efficient are helping the builders to install roof without consuming time. New technologies such as improved air quality, increase roof life and safety, along with low noise and cost of air conditioning is fueling the market to grow.

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However, it has been noticed that requirement of high initial cost for installing the roofing system is likely to retrain the growth of the market. This has actually limited them to be used in commercial and residential area. Nonetheless, with advanced development in future, the cost for setting up the roofing system is likely to plummet down.

The global roofing market is classified on the basis of product, application, and region. On the basis of product the market is segregated into bituminous, metal, tiles, elastomeric, and others. Among these the bituminous roofing accounted for more than 50% of the market owing to the easy installation and long durability. On the basis of application the market is segregated into residential, non-commercial, and commercial. Among these residential is likely to hold significant share of the market, but commercial is likely to see hold a major share due to rise in construction of hotel and commercial buildings.

On the basis of region, the market is anticipated to be dominated by Asia Pacific owing to rampant infrastructure development such as renovation of airports, SEZs and IT parks. On the other hand, North America is likely to hold second position owing to the presence of major players in the region. Availability of wide product range in the region is expected to provide lucrative opportunity in the market.

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