Due to the rapid industrialization and urbanization around the world, the market for roofing has been gaining steady impulsion. Recently, a fresh study titled “Roofing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” has been publicized to the wide repository of Market Research Hub (MRH), which is a valuable source of information and guidance for stakeholders looking to understand the dynamics of this market. This 185-page descriptive study provides the estimated market size of roofing for 2016 and forecast for the next eight years. The global market size of roofing has been provided in terms of revenue and volume.
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The roofing market has profited from the diversity of construction activities demanded across the world. According to the research assessment, the global roofing market is likely to exhibit a CAGR of 6.5% between 2017 and 2024. Growing at this pace, the market’s valuation of US$80118.6 mn in 2017 will become US$124501.8 mn by 2024.
Roofing is like a barrier to the house, protects the walls from moisture, dust as well as different environmental conditions. It has been clearly stated in the study that the global roofing market is likely to interact expressively with the energy conservation initiatives being supported throughout developed countries, as roofing materials are exposed to the elements and thus comprise a key part of the building in terms of its environmental impact. Also, initiatives to renovate old buildings in developed countries propels demand for roofing.
Geographical Scenario
To offer readers concrete information, the report offers segment-wise analysis. The segment-wise analysis helps readers in identifying the strong and weak areas of a market. The market has been segmented on the basis of product, application and region. In terms of geography, regions highlighted in the study include Asia-Pacific, Europe, North America, Middle East and Africa and Latin America. Analyst observed that developing countries in Asia Pacific, Latin America, and Africa that are undergoing rapid industrialization and urbanization are providing ample opportunities to the growth of roofing market. On the other hand, Asia Pacific likely to sustain a strong position in the coming years.
The research further highlights major product type which includes Bituminous roofing, Tile roofing, Metal roofing and others. With so many roofing products available in the construction industry today, it can be difficult to determine the best one. According to the research, bituminous roofing accounts for almost 50% of the overall market, due to its low cost, easy installation, and long durability.
The final section of the study presents an exhaustive analysis focusing on the prime players operating in the global roofing market. These players are Johns Manville, IKO Industries Ltd., GAF, Certain Teed Corporation, Owens Corning, Brass Monier Building Group Services S.A, Atlas Roofing Corporation, Duro-Last Roofing Inc., Firestone Building Products Company, TAMKO Building Products Inc., and Carlisle.
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