Global Asphalt Felt Market: Technological Advancement & Growth Analysis with Forecast to 2027

The asphalt felt is a fine grain synthetic material such as burlap, canvas or felt which is usually used in roofing and wall applications. Owing to its effective shock-absorbing ability, the asphalt felt material is used as an insulating material in building and construction field. The ‘rolled’ form of asphalt felt is used in roofing of commercial structures, hotels, and apartments as an underlayment for water resistance. Although this felt is used in all forms of roofs, it is more popular for roof construction with slight inclination on rooftop. The asphalt felt roofs can survive extreme weather condition such as high temperatures, heavy rainfall, and moisture.

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Drivers

Expanding scale of construction and infrastructural sector, and rising export of synthetic materials is expected to boost growth of the global asphalt felt market during the forecast period. According to India Brand Equity Foundation (IBEF), synthetic fabrics were the largest products category to be exported since 2015 accounting over 35% of total exports.

The weather resisting properties of asphalt felt roofing material are expected to drive growth of the global asphalt felt market over the forecast period.

Restraints

Inability of asphalt felt to resist against the fire is expected to limit growth of the global asphalt felt market during the forecast period.

Potential future lockdowns due to ongoing COVID-19 pandemic will curb the building and construction work which will indirectly affect the asphalt felt market. This factor is expected to restrain growth of the global asphalt felt market over the forecast period.

Opportunities

Global adoption of eco-friendly and sustainable alternatives for building-making is expected to create opportunities of growth of the global asphalt felt market during the forecast period.

Regional Insights

North America is expected to witness a significant growth during the forecast of the global asphalt felt market. Initiatives by the government to adopt sustainable alternatives for the building structures is driving growth of the asphalt felt market in this region.

Europe is expected to experience a robust growth over the forecast period of the global asphalt felt market. Growing residential and public construction sector is driving growth of the asphalt felt market in this region.

Competitive Section

Major players contributing in the global asphalt felt market are Gardner, IKO, Grip-Rite, Jackson Building Products, Castle, Epilay Inc., HAL Industries Inc., GAF, Tarco, and Continental Materials, Inc.

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Key Developments

In February 2021, the North American interior building products distributor, acquired D.L. Building Materials Inc., to expand its platform in U.S.

In February 2021, the Singaporean start-up company, Solar AI Technologies introduced an online tool for assessing the rooftop solar.

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This release was published on openPR.