Roofing Market: materials (Bituminous, Metal, Tile, etc.), types (Flat, Slope), applications (Residential, Commercial, Industrial) 2021-2030
WILMINGTON, DELAWARE, February 19, 2024 /EINPresswire.com/ — Roofing materials constitute the outermost covering of a building’s roof, crucial for its construction and maintenance. Serving as a shield against inclement weather and natural elements, the roof plays a pivotal role in safeguarding the structure below. The selection of roofing materials is contingent upon factors such as material availability and the intricacy of the supporting framework.
The global roofing market size was valued at $102.4 billion in 2020 and is expected to reach $156.0 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
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Top Impacting Factors:
Options range from traditional materials like slates and thatches to modern alternatives such as bituminous tiles and plastic roofs. Anticipated growth in investments aimed at commercial and residential development and renovation projects is expected to propel the roofing materials market forward.
An emerging trend within the industry involves the introduction of reflective coatings, which can be applied to conventional dark-colored roofing materials. These coatings boast exceptional heat reflection properties, contributing to a reduction in the overall energy consumption of buildings. This innovation not only enhances the efficiency of roofing systems but also aligns with sustainability objectives by mitigating the environmental impact of energy usage.
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Roofing products are used in various applications such as residential buildings, commercial buildings, and others. Commercial buildings accounted for the largest market share in the roofing market in 2020.
Increased adoption of modern roofing materials such as bitumen, tile, and metal has changed commercial construction such as industrial buildings in the last two decades. In addition, increase in migration of population in Europe has created the need for commercial construction, thereby boosting the demand for roofing products.
Top Players:
The key players profiled in the roofing market report include3M Company, Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company.
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Key Findings of the Study
• The report provides an extensive analysis of the current and emerging roofing market trends and dynamics.
• By roofing material, the bituminous segment dominated the roofing market in terms of revenue in 2020 andis projected to grow at a CAGR of
4.7%during the forecast period.
• By application, the commercial segment registered the highest growth inthe roofing market in 2020.
• By region, Asia-Pacific is projected to register the highest growth rate in the coming years.
• The report provides an extensive analysis of the roofing market trends and emerging opportunities of the market.
• In-depth roofing market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
David Correa
Allied Market Research
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February 19, 2024, 16:08 GMT
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