Recent report published by research nester titled “Roofing Materials Market: Global Demand Analysis & Opportunity Outlook 2027″ delivers detailed overview of the roofing materials market in terms of market segmentation by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The roofing materials market is segmented by product, application and region. Based on product, the market is segmented into asphalt shingles, concrete & clay tile, metal roofs, elastomers & plastic and others. On the basis of application, the market is segmented into residential, commercial and non- commercial. The roofing materials market is anticipated to record a CAGR of around 5% during the forecast period i.e. 2019-2027.
The market is segmented by product and application, out of which, the residential segment is anticipated to have leading shares on account of rise in residential construction driven by rising population, strong economic growth and rapid urbanization.
Asia Pacific is expected to witness fastest growth during the forecast period owing to massive potential of the construction industry in the region. Enforcement of green building codes by governments in the region is anticipated to boost the growth of the roofing materials market. North America market is expected to grow at a steady rate on the back of increased demand from the residential sector, extensively developed manufacturing industry and government initiatives to develop social infrastructure.
Rising awareness about benefits of weather protection of building structures is expected to benefit the growth of the market. Europe is expected to show significant growth owing to the recovery of the residential and commercial construction sectors and to reduce the energy requirements of the system is expected to propel the growth of the market. The construction industry in Middle East and Africa is expected to observe significant growth on the back of increasing government investments in commercial construction in economies.
Increasing adoption of sustainable construction projects that emphasize the use of energy efficient and eco-friendly materials. The industry is witnessing an increase in strategic alliances between contractors and installers with material suppliers to serve a wider customer base. Increasing awareness regarding use of roofing systems to reduce carbon footprint by decreasing energy consumption. Larger structural components of roofing system are now produced with the help of laser printing which is expected to boost the growth of the roofing materials market.
However, increase in production cost of roofing materials is expected to operate as a key restraint to the growth of roofing materials market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the roofing materials market which includes company profiling of AF Materials Corporation, Atlas Roofing Corporation, CertainTeed Corporation, Owens Corning Corporation, Braas Monier Building Group S.A., Etex, Fletcher Building Limited, TAMKO Building Products, Inc., Icopal Holding Aps and North American Roofing.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the roofing materials market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.