Composite Slate Roofing Market Size Valued at 3,438.1 Million by 2023

Composite slate roofing is made from combining the full surface of at least two different materials. The aim of using various materials together is to increase durability, increase elasticity and to combine the materials' unique properties. Composite slate roofing is usually made from plastic or rubber, or a combination of both. Some roofing manufacturers use recycled materials, while others use virgin resins. It is also called synthetic slate roofing. The composite slate roofing market is driven by various factors such as growing construction industry across the globe, and low maintenance cost of the composite slate roofing. The composite slate roofing market has various constraints that hinder the growth of the market such as availability of other Salternatives and economic slowdown.

The global composite slate roofing market has been segmented based on type, application and region. On the basis of type, it is segmented into shingles, tiles and shakes. On the basis of type, Shingles accounted for the largest market share of 67.42% in 2016 and is projected to grow at the highest CAGR of 4.23% during the forecast period. On the basis of application, residential sector is referred as highest growing segment due to the increasing population and urbanization. With rapid industrialization in countries like India, China and Indonesia, there is seen and increased demand for construction. The market is expected to reach market size of 3,438.1 million by the end of forecast period with CAGR 2.90% between 2017 and 2023.

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The key players of global composite slate roofing market include DaVinci Roofscapes, LLC (U.S.), Ply Gem Roofing (U.S.), CertainTeed Corporation (U.S.), Enviroshake Quality Engineered Roofing (Canada), EcoStar LLC. (U.S.), Moderne Slate Roofing Systems (U.S.), Baker Roofing Company (U.S.), Colorado Roofing Contractors, LLC (U.S.), Inspire Roofing Products (U.S.) and Brava Roof Tile (U.S.) others.

Extensive growth in this market has brought to light that new product development along with expansion, is the key strategy adopted extensively by the players with an equal share of 33.3%. They are investing in R&D to develop new and innovative products. The company is expanding their product portfolios to meet the customer requirements. For instance, DaVinci Roofscapes, LLC (U.S.) has introduced a new line of multi-width Bellaforté Shake polymer roofing tiles. These tiles are available in eight different profiles that replicate real cedar shakes, the tiles feature snap-fit tabs for easy installation and self-alignment.

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