Roofing Market to Reach Valuation of US$ 322 Bn by 2031

Roofing Market: Introduction

Transparency Market Research delivers key insights on the global roofing market. In terms of revenue, the global roofing market is estimated to expand at a CAGR of 4.9% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global roofing market.

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The global roofing market is broadly affected by several factors, including growth of the construction industry. Rapid urbanization in developed and developing economies is increasing the demand for residential as well as commercial construction. Thus, expansion of the construction industry is propelling the demand for roofing across the globe, thereby boosting the global roofing market.

Roofing Market: Dynamics

The growth of the construction industry in recent years has been vital for the global roofing market. The roofing market is mature in developed regions such as North America and Europe. Renovation activities aimed at staying abreast of changing environmental regulations are likely to play a key role in the roofing market in these regions.

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The global roofing market is likely to interact significantly with the energy conservation initiatives being supported throughout developed countries, as roofing materials are exposed to elements and thus comprise a key part of buildings in terms of environmental impact.

The widespread adoption of environmentally oriented roofing systems could help establish an economy of scale, which would help players distribute the innovative materials in developing regions at affordable costs.

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High costs of advanced roofing materials remains one of the major restraints of the global roofing market.

Roofing Market: Prominent Regions

The rapid growth of emerging economies in Southeast Asia is likely to help the roofing market in Asia Pacific during the forecast period. The region is expected to establish firm dominance in the global roofing market.

Apart from urbanization initiatives, which have become key part of the economic plans of several countries in Asia Pacific, industrial growth in dynamic economies such as India, China, Japan, and South Korea is also likely to contribute significantly to the growth of the roofing market in the region.

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The Middle East is also likely to be a major region of the global roofing market over the next few years due to the rapid pace of construction in affluent economies in the region. Residential as well as industrial construction has prospered in the region in recent years due to the high pace of economic growth in countries such as the UAE, Saudi Arabia, Qatar, and Kuwait. This is likely to remain a key driver of the global roofing market in the next few years.

Roofing Market: Major Players

The global roofing market is consolidated, with the presence of key players. Prominent players operating in the global roofing market include Atlas Roofing Corporation, GAF, Duro-Last Roofing Inc., Certain Teed Corporation, Brass Monier Building Group Services S.A., Johns Manville, Firestone Building Products Company, IKO Industries Ltd., Owens Corning, TAMKO Building Products Inc., and Carlisle.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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