Composite Slate Roofing Market will grow to become 3,438.1 Million USD in Size by 2023 | forecast MRFR

The Analysis presents the study of Worldwide Composite Slate Roofing Market facilitating the regional and country wise analysis covering the strategic analysis of each market player and the market share they hold

The global market for composite slate roofing market is expected to grow over the CAGR of around 2.90 % during the period 2017 to 2023. Asia-Pacific region holds largest share in the global market. Rapid lifestyle changes and economic growth, coupled with rising population in China and India have spiked the growth rate of composite slate roofing in the region. Chinese government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. Europe was the second-largest market for the global composite slate roofing in 2016. Rise in the residential replacement activities, rising environmental concerns and the growing interest in energy saving & cost benefit construction, are the factors driving the growth of the market in European region.

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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.

Asia-Pacific is the largest & fastest growing market for composite slate roofing, followed by Europe and North America. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. In 2016, it accounted for a market value of USD 1,136.6 million; and is projected to grow at a CAGR of 4.82% during the forecast period. Europe takes second place in the composite slate roofing market. Rise in the residential replacement activities, rising environmental concerns and the growing interest in energy saving & cost benefit construction, are the factors driving the growth of the market in European region. Europe accounted for the market value of USD 651.6 million and is projected to grow at a CAGR of 4.02% during the forecast period.

Key Players:
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.

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