Roofing Materials Market: Growth Factors, Latest Trend & Regional Analysis Of Leading Players By 2027
Roofing Materials Market is set to observe growth rate of over 4.4% till 2027. Growing concern regarding energy consumption across developed countries, along with rising awareness about installing energy-efficient solutions in buildings and establishments are some of the major factors that are driving the growth of roofing materials market significantly. For instance, growing popularity of green buildings in the U.S., Germany and other European countries is impelling the demand for energy efficient roofing systems.
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Concerns over energy consumption across developed economies have accelerated the adoption of energy-efficient roofing solutions. The rising trend of green buildings projects in developing economies like Germany, the U.S., and other economies along with the usage of energy-efficient gravels in buildings is expected to accelerate the product demand. Rising urbanization and increasing investment by governments of emerging economies in the residential construction industry may offer lucrative opportunities for roofing material suppliers.
When it comes to which roofing material is witnessing higher adoption, concrete & clay tile materials are gaining massive traction in the industry owing to the benefits offered by them. They offer improved aesthetics as well as durability of materials which makes them suitable for residential applications. In addition, the material is easy to customize, weather & fire resistant, and requires less maintenance when compared to its counterparts.
Technological developments such as integration of these products with solar cells and advancements in insulated roofing tiles are as well offering new growth avenues for the business. According to the report, roofing materials market is anticipated to register an appreciable valuation of around USD 36 billion revenue by 2027 from concrete & clay tile materials segment.
The reroofing construction is expected to hold significance in regions like North America and Europe. Report claims that the reroofing segment held around 48% volumetric shares in 2020. Both North America and Europe comprise of residential houses that are in need for renovation and refurbishment. Apart from this, rising number of storms and other adverse weather conditions are frequently observed in the region which is anticipated drive the requirement for reroofing. Easy installation procedures, advancement in products, and affordability of products may drive segment growth in the coming years.
With increasing product demand, several major industry players operating in roofing materials market are focusing on developing new products to widen their product portfolio and effectively serve the growing demand. This allows them to strengthen their foothold in the market. For instance, in 2021, Atlas Roofing Corporation announced the launch of its new hip & ridge shingle StormMaster®.
The product reportedly features its proprietary Core4™ Enhanced Polymer Technology, which ensures additional strength, durability, flexibility and extreme weather resistance. Such developments are estimated to propel the industry landscape over the foreseeable future.
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Some Point from Table of Contents:
Chapter 4 Roofing Materials Market, By Material
4.1 Global roofing materials market, by material insights
4.2 Bituminous
4.2.1 Global market estimates and forecasts, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3 Concrete & clay tile
4.3.1 Global market estimates and forecasts, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 - 2027
4.4 Metal
4.4.1 Global market estimates and forecasts, 2017 - 2027
4.4.2 Market estimates and forecast, by region, 2017 – 2027
4.5 Elastomer
4.5.1 Global market estimates and forecasts, 2017 - 2027
4.5.2 Market estimates and forecast, by region, 2017 - 2027
4.6 Plastic
4.6.1 Global market estimates and forecasts, 2017 - 2027
4.6.2 Market estimates and forecast, by region, 2017 - 2027
4.7 Others
4.7.1 Global market estimates and forecasts, 2017 - 2027
4.7.2 Market estimates and forecast, by region, 2017 - 2027
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