Transparency Market Research
The increasing demand for cost-effective roofing options due to the expansion of the residential and commercial construction industry offers significant business opportunities in the flat roofing market
Wilmington, Delaware, United States, March 16, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – According to TMRs globally Flat roof market Research report, the market was valued at US$30.9 billion in 2021 and is projected to grow at a CAGR of 5.4% during the forecast period of 2022-2031.
Flat roofs are typically used on commercial structures such as warehouses, business centers, departmental waterfronts, and entertainment zones. Rapid industrialization has led to a massive increase in commercial and residential construction. Flat roofs require less installation time. It is easy to clean and is the best option for locations with less rainfall. In addition, flat roof is an energy efficient solution. These aspects have made them popular with consumers. These factors are expected to increase the flat roof market growth. Furthermore, the increasing demand for energy efficient roofing solutions is likely to strengthen the flat roof market during the forecast period.
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Flat roof market: growth driver
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The construction industry is an important end user of flat roof systems. The industry is expanding rapidly in developing countries such as India, China and South Africa. The residential and commercial construction sectors are mainly driven by the increase in urban population, high standard of living and increase in disposable income. This should accelerate the growth of the flat roof industry in the coming years.
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Due to the simple structure and accessibility to affordable raw materials, the flat roof market has gained importance in recent years. Flat roof installation takes only two to three days with a minimum of manpower. The thermoplastic membranes, asphalt, metals and EPDM used in flat roofs are durable materials. With proper maintenance, EPDM can last about 30 years. An increase in per capita income in emerging markets is expected to increase the need for cost-effective roofing solutions, which is expected to fuel the expansion of the flat roof market.
The story goes on
Key Outcomes of Flat Roof Market
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According to the flat roof market statistics, the 60 million segment is expected to account for the largest market share between 2022 and 2031. The segment is expected to expand at a significant market CAGR over the forecast period. The longevity of a roof is affected by its thickness and exposure to the elements. Demand for 60 mil thick flat roofs is high due to their durability. This is expected to increase demand from the flat roof industry.
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According to flat roof market statistics, the residential segment is expected to dominate the industry from 2022 to 2031. The segment is expected to grow rapidly during the forecast period. The segment offers significant opportunities due to government financing of buildings and infrastructure.
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Flat roof market: regional assessment
The Asia Pacific market is projected to account for a large share of the global flat roof market from 2022 to 2031. The market in the region is expected to grow at a CAGR of 5.7% during the forecast period. Market development in Asia Pacific is being driven by the growth of the residential sector in developing countries like India and Indonesia. Moreover, the increase in per capita income is forecast to propel the market in the region in the coming years.
Flat roof market: competitive scenario
Several large and medium-sized companies that operate internationally accounted for the largest market share in 2021. Leading players conduct intensive research and development activities and work on further technical developments in order to increase the market share. Consequently, mergers and acquisitions, financial restructuring and investment, and capacity development are likely to enhance market development.
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Well-known companies in the flat roof market are:
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Polyglass SpA
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polymer
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3M
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BASF SE
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DowDuPont
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Owen Corning
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harmful
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Busscher & Hoffmann GmbH
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SikaAG
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IKO Italiana membranes
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Katepal Products UK Limited
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Bauder Ltd
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BMI group,
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imper srl
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Carlisle Building Materials LLC (CCM)
Flat roof market: segmentation
By type
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Build up
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Modified bitumen
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EPDM rubber
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Thermoplastic Polyolefin
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PVC membrane
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metals
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Other
By thickness
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45 million
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60 million
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80 million
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90 million
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Other
According to end use
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Advertising
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residential
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Industrial
By region
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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Latin America
About transparency market research
Transparency Market Research, a global market research firm based in Wilmington, Delaware, USA, provides custom research and consulting services. The company examines factors that shape the dynamics of demand in different markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, distribution channel and end use are analyzed which will drive the growth of the markets over the next decade.
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