Roofing Market Value Poise up to 270.40 Billion USD by 2026

The report "Roofing Market by Type (Materials, and Chemicals), Application (Residential, Commercial, Non-Residential), and Region (Asia-Pacific, North America, Europe, South America, and Middle East & Africa) - Global Forecasts to 2026", The global roofing market is projected to reach USD 270.40 Billion by 2026, at a CAGR of 4.9% from 2016 to 2026. Increasing demand for roofing materials from residential and commercial sectors due to growing urbanization is driving the global roofing market. In addition, repairing and remodeling works being carried out in developed countries are also propelling the growth of the global roofing market.

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The materials type segment is leading the global roofing market.

The demand for various roofing materials, such as metals, tiles, membranes, and fiberglass/plastics, among others is growing due to increase in the number of non-residential construction activities taking place across the globe. These involve construction of power infrastructure and transport infrastructure, among others, which have led to the growth of the materials type segment of the global roofing market.

The non-residential application segment is estimated to account for the largest share of the global roofing market between 2016 and 2026.

The use of roofing materials in non-residential construction, such as warehouses, power plants, and transport infrastructures, among others is increasingly continuously as roofing helps to avoid harmful effects of rain, snow, moisture, and heat that could damage the equipment or production processes in a particular installation. Roofing also helps to maintain thermal insulation properties of buildings. These factors lead to the growth of the non-residential application segment of the global roofing market.

The Asia-Pacific roofing market is projected to grow at the highest CAGR during the forecast period.

The Asia-Pacific region is the largest market for roofing, globally. It is followed by the North American and European regions. China, the U.S., Japan, and Korea are the largest consumers of roofing materials and chemicals. Factors such as repairing and remodeling works being carried out in the Asia-Pacific region, along with construction of new residential and commercial buildings have led to increased demand for roofing materials and chemicals in the Asia-Pacific region. China is leading the Asia-Pacific roofing market. It is followed by Japan, India, Australia, South Korea, Malaysia, and Thailand.

The key players in the global roofing market include Owens Corning (U.S.), Duro-Last Roofing, Inc. (U.S.), BASF SE (Germany), 3M Company (U.S.), The Dow Chemical Company (U.S.), Braas Monier Building Group (Luxembourg), Sika AG (Switzerland), and Atlas Roofing Corporation (U.S.), among others.

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This release was published on openPR.