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Roofing Market Expected to Grow at 5.5% CAGR from 2023 to 2033

02-29-2024 04:09 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Roofing Market Expected to Grow at 5.5% CAGR from 2023 to 2033

The global roofing market (屋根市場) is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2023 to 2033. Valued at US$ 82.2 billion in 2023, the market is anticipated to reach US$ 140.4 billion by 2033.

The global roofing market has witnessed significant growth in recent years, driven by factors such as increasing construction activities, urbanization, and the growing awareness regarding energy-efficient roofing solutions. The market encompasses a wide range of roofing materials, including asphalt shingles, metal roofing, tiles, and membrane roofing, among others. These materials are used in residential, commercial, and industrial buildings, with each segment offering unique opportunities and challenges.

Market Dynamics

The roofing market is influenced by several key factors, including economic conditions, regulatory environment, technological advancements, and consumer preferences. One of the key drivers of market growth is the increasing construction of residential and commercial buildings, particularly in emerging economies. Rapid urbanization and industrialization are also contributing to the demand for roofing materials.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=8436

Another important factor driving market growth is the growing focus on sustainable and energy-efficient building practices. Green roofing solutions, such as cool roofs and solar reflective roofs, are gaining popularity due to their ability to reduce energy consumption and mitigate the urban heat island effect.

However, the market faces challenges such as volatile raw material prices, stringent regulatory requirements, and competition from alternative roofing materials. Additionally, the impact of the COVID-19 pandemic has led to disruptions in the supply chain and construction activities, which has affected the market growth to some extent.

List of Key Companies Profiled in The Report

Carlisle Companies, Inc.
Atlas Roofing Corporation
American Hydrotech, Inc.
Axter Ltd.
ARTWOOD SRL
Alton Industrial Pty Limited
Arkistruct Pty Ltd
Blachotrapez
Architectural Panels Pty Ltd
Asc Profiles, Inc.
Bilka Steel SRL
Alliance Design and Development Group, Inc.
Agway Metals Inc.
Boato International S.P.A. Con Socio Unico
Aluform System GmbH & Company KG

Market Future Outlook

The roofing market (루핑 시장) is expected to witness steady growth in the coming years, driven by factors such as increasing investments in infrastructure development, renovation activities, and the growing demand for sustainable roofing solutions. The residential segment is expected to dominate the market, supported by the increasing construction of single-family homes and multi-family buildings.

Technological advancements, such as the development of advanced roofing materials with improved durability, energy efficiency, and aesthetic appeal, are also expected to drive market growth. The adoption of digital technologies, such as Building Information Modeling (BIM) and drones, for roof inspection and maintenance is expected to further propel market growth.

Market Insights

The global roofing market (Marché de la toiture) is highly competitive, with a large number of players operating in the market. Some of the key players in the market include Owens Corning, CertainTeed Corporation, GAF Materials Corporation, and Carlisle Companies Inc., among others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence and expand their product portfolio.

Want Full Report? Enquire Here- https://www.factmr.com/report/roofing-market

Regionally, North America is expected to dominate the roofing market, supported by the presence of a well-established construction industry and the growing demand for residential and commercial buildings. The Asia-Pacific region is also expected to witness significant growth, driven by rapid urbanization and industrialization in countries such as China and India.

Recent Developments

The demand for precise and reliable roofing solutions is driving sales growth in the roofing materials market. Leading companies are focusing on providing efficient, cutting-edge, durable, and long-lasting roofing materials. Many roofing product manufacturers are also concentrating on backward integration to maintain control over product quality.

In February 2022, Johns Manville, a Berkshire Hathaway company, introduced two new solutions for bituminous roofing systems to enhance roof efficiency. Additionally, Carlisle Companies Incorporated acquired MBTechnology, Inc. in February 2022, aiming to expand its capacity for roofing underlayment and broaden its range of modified bitumen roofing options.

Explore More Related Studies Published by Fact.MR Research:

Roofing Adhesives Market (屋根用接着剤市場): https://www.factmr.com/report/roofing-adhesives-market

Waterproofing Membranes Market (방수막 시장): https://www.factmr.com/report/4529/waterproofing-membranes-market

Roof Cover Boards Market (Marché des panneaux de couverture de toit): https://www.factmr.com/report/roof-cover-boards-market

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About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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