Roofing Materials Market: Growth Strategies, Rising Trends & Revenue Analysis,2027
The size of roofing materials market was registered at USD 118 billion in the year 2020 and is anticipated to cross USD 159 billion by 2027. Between the period 2021-2027, the market is expected to register a CAGR of 4.4%.
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The industry can be supported by rising disposable income and increasing demand for new housing projects globally. The emerging trend of green building projects along with rising environmental concerns will be some of the major factors contributing to the acceptance of sustainable roofing materials. Prominent manufacturers operating in the roofing material industry include CertainTeed Corporation, Atlas Roofing Materials Corporation, Owens Corning, and others.
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.
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.
The U.S. is the one of the major consumers of roofing materials across the globe. The North America roofing materials market showcases a considerable growth rate and generated over USD 29 billion revenue in 2020. The region is witnessing a requirement for renovation projects.
It also composes of the presence of a wide range of companies specializing in roofing materials. In 2021, US LBM announced that two of the company’s working divisions, Raymond Building Supply and Coastal Roofing Supply, in Florida, have amalgamated to add roofing products at its North Fort Myers and North Port locations. Increasing construction of new buildings and proliferating indoctrination could supplement the regional industry overtime.
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Some Point from Table of Contents:
Data Tables
TABLE 1 Roofing materials market estimates and forecast, 2017 – 2017, (Million Square Foot) (USD Billion)
TABLE 2 Roofing materials industry estimates and forecast by material, 2017 – 2017 (Million Square Foot)
TABLE 3 Roofing materials industry estimates and forecast by material, 2017 – 2017 (USD Billion)
TABLE 4 Roofing materials industry volume estimates and forecast by type of construction, 2017 – 2017 (Million Square Foot)
TABLE 5 Roofing materials market revenue estimates and forecast by type of construction, 2017 – 2017 (USD Billion)
TABLE 6 Roofing materials industry volume estimates and forecast by application, 2017 – 2017 (Million Square Foot)
TABLE 7 Roofing materials market revenue estimates and forecast by application, 2017 – 2017 (USD Billion)
TABLE 8 Roofing materials market volume estimates and forecast by region, 2017 – 2017 (Million Square Foot)
TABLE 9 Roofing materials industry revenue estimates and forecast by region, 2017 – 2017 (USD Billion)
TABLE 10 Vendor matrix
TABLE 11 Growth driver
TABLE 12 Industry pitfall and challenges
TABLE 13 Strategic dashboard
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