North America Roofing Market Future Demand-2025 | By Type, Material, Application

According to a new report published by Allied Market Research, titled, "North America Roofing Market Analysis: Opportunity Analysis and Industry Forecast, 2018–2025," the North America Roofing market size was $29,864.4 million in 2017 and is projected to reach $47,517.8 million in 2025, growing at a CAGR of 5.9%. In value terms, the flat roof segment accounted for over two-thirds of the North American roofing market share in 2017 and is expected to witness significant growth during the forecast period.

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Development in technology, such as the development of RS-8020 PVC roofing systems by Johns Manville, is one of the major factors that drives the North America roofing market. The system is equipped with UV resistance property that works effectively in the long run, despite harsh weather conditions. In addition, increase in standard of living particularly in the developing countries makes way for different building renovation projects, which fuel the demand for the roofing market. Further, recent flat roof or low-slope roofs usually have a continuous membrane covering. These membranes are installed as incessant sheets, bonded together by adhesives. However, rise in roofing material costs are expected to hinder the North America roofing market growth to a certain extent from 2018 to 2025.

According to Priyanka Khandelwal, Lead Analyst, Construction & Manufacturing, at Allied Market Research, “Rise in investment in interior designing of residential as well as commercial properties fuel the growth of the North America roofing market. At present, the leading consumer in the roofing market is the residential building segment. Increase in focus on energy efficient construction and the demographic shift toward urbanization, boost the usage of roofing systems. However, ignorance about the long-term benefits of roofing systems and rise in roofing material costs, hamper the growth of the North America roofing market.”

Amplified acceptance of green roof technologies in the U.S. propel the development of the North America roofing industry. Properties such as noise reduction, increased durability, and aesthetic improvement along with improvement in the air quality, have propelled the usage of green roofs in the region. Currently, prominent players in the roofing market, lead the market with their extensive distribution network and advanced product portfolio, which is a major compelling factor for the North America roofing market growth. Prominent industrialists are focused on introducing innovative, energy-efficient, reliable, and advanced roofing in the market. For example, Johns Manville offers a series of roofing products for industrial applications such as single ply membranes, modified bitumen systems, and built-up roofing systems. Similarly, Owens Corning deals in a variety of roofing shingles fortified with the advanced features such as SureNail Technology, StreakGuard Algae Resistance Protection, and/or COOL Roof Energy Performance.

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Based on type, the shingle roofing segment is expected to account for the largest share in the North America roofing market during the forecast period in terms of value. Based on the material type, the asphalt segment is expected to account for the maximum share during the forecast period in value terms. On the basis of roof type, the market is divided into flat roof and slope roof. By application, the market is divided into residential, commercial, and industrial. The residential segment is expected to dominate the market throughout the study period. Based on country, market is bifurcated into the U.S. and Canada. The U.S. is anticipated to hold the major share during the forecast period.

North America Roofing Market Key Segments:

By Type

Shingle Roofing
Tile Roofing
Engineered Solution Roofing
Paneled Roofing
Structural Concrete Roofing

By Material Type

Metal
Wood
Clay and slate
Asphalt
Concrete
Membrane
PVC
TPO
EPDM
Torch-on
Spray-on
BUR

By Roof Type

Flat roof
Slope roof

By Application

Residential
Commercial
Industrial

By Country

U.S.
Canada

Key Market Players Profiled In The Report:

Beacon Roofing Supply, Inc.
Berkshire Hathway
Bridgestone Americas
Carlisle Companies Incorporated
CertainTeed (Saint Gobain)
FiberTite (Seaman Corporation)
GAF Materials Corporation
IKO Industries
Owens Corning
Sika Group

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.