Roofing market size was valued at $67,218 million in 2015, and is expected to reach $101,483 million by 2022 at a CAGR of 6.2%. The roofing market includes bituminous roofing, metal roofing, tile roofing and others (Plastic and RCC roofing). The roof is the covering on the uppermost part of a building, which protect the building from heat, rain, and other atmospheric conditions.
Factors such as rise in construction industry, rapid urbanization, and technological innovations drive the growth of the market. According to the reports from the World Urbanization Prospect, about 54% of population belonged to urban areas in 2014, and is projected to rise to 66% by 2050, thereby fueling the roofing market growth. Furthermore, rise in standard of living, particularly in the developing countries empowers re-roofing construction projects. Rise in air pollution and loss of biodiversity and urban heat island are the factors that make way for green roof technology to decrease environmental degradation.
Roofing market analysis has been done in the report on the basis of various segmentations which includes various segments such as product type, application and geography. By product type, the market is segmented into bituminous roofing, metal roofing, tile roofing, and others. By application, the market is segmented into residential, commercial, and other buildings. Bituminous roofing accounted for the maximum share of the global roofing market in 2015 and is anticipated to consolidate its position during the forecast period, owing to easy installation, higher durability, longer life span, and technological innovations. In addition, government of countries such as India, China, Malaysia, Indonesia, and others have invested heavily in infrastructure development, which also fuels the demand for bituminous roofing in the global roofing market. Based on applications, residential buildings is expected to witness the highest growth due to popularity of eco-friendly roofing technologies, and increased investments in the real-estate sector.
Furthermore, the roofing market is analyzed based on four geographical regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global market during the analysis period due to growth in urbanization and increase in infrastructure investments. China leads the Asia-Pacific roofing market constituting nearly 44.6% of the global roofing market in 2015. This growth is attributed to rise in income levels, rapid urbanization & industrialization, and increase in government initiative to invest in infrastructure development.
Key players operating in the roofing industry include Owens Corning, Brass Monier Building Group, Etex, Saint-Gobain, Wienerberger AG, Beacon Roofing Supply, Inc., Atlas Roofing Corporation, Duro-Last, Inc., and Carlisle.
ROOFING MARKET KEY BENEFITS
ROOFING MARKET SEGMENTATION
By Product Type
Other companies mentioned in the report:
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