Roofing Underlayment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033”
— The Business Research Company
LONDON, GREATER LONDON , UK, January 5, 2024 /EINPresswire.com/ — The roofing underlayment market has exhibited robust growth in recent years, poised to rise from $26.64 billion in 2023 to $28.19 billion in 2024, representing a Compound Annual Growth Rate (CAGR) of 5.8%. Anticipated to maintain its momentum, the market is projected to reach $35.68 billion in 2028, driven by a CAGR of 6.1%.
Construction Industry Surge as a Catalyst for Market Expansion
The flourishing construction industry, encompassing both residential and non-residential segments, stands as a significant driver for the roofing underlayment market. With a pivotal role in all buildings, roofing underlayment acts as a protective barrier between framing materials and the top layer of shingles during roof construction, safeguarding against water leaks. Projections by the American Institute of Architects indicate a 5.4% increase in non-residential building construction in 2022, expected to reach 6.1% by 2023. Simultaneously, the U.S. Census Bureau reports an upswing in monthly residential construction activities in 2022, affirming the growth trajectory propelled by the construction industry.
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Aging Infrastructure Spurs Market Growth
The aging infrastructure scenario further propels the roofing underlayment market forward. As physical assets deteriorate over time, roofing underlayment emerges as a valuable component addressing the challenges posed by aging structures. Notably, the White House reported over 45,000 U.S. bridges and 1 in 5 miles of roads being in poor condition in November 2021. This emphasizes the role of roofing underlayment in preserving the integrity, energy efficiency, and longevity of aging structures.
Roofing Underlayment Key Market Players:
Major contributors to the roofing underlayment market include DowDuPont, Atlas Roofing Industries Inc., Monier Roofing Pvt Ltd., Carlisle Companies Incorporated, CertainTeed Corporation, GAF Materials Corporation, Owens Corning, Johns Manville, Duro-Last Inc., MFM Building Products Corp., Polyglass USA Inc., TAMKO Building Products Inc., IKO Industries Ltd., VaproShield LLC, Braas Monier Building Group Services GmbH, Grace Construction Products, Soprema Group, Firestone Building Products, Garland Industries Inc., Siplast Inc., Sika AG, Sarnafil Inc., Boral Limited, Mule-Hide Products Co. Inc., Protecto Wrap Company, Rmax Operating LLC, Tarco Roofing Materials Inc., InterWrap Inc., Novia Ltd., Polyguard Products Inc.
Technological Advancements Pave the Way for Innovation
Technological advancements emerge as a key trend, driving innovation in the roofing underlayment market. Leading companies are channeling efforts into technological innovations to meet consumer demands. An illustrative example is Boral Roofing’s launch of Sol-R-Skin Blue roofing underlayment in November 2021. This product features unique UV protection and glare coating, safeguarding homes from UV rays, enhancing energy-saving capabilities, and offering waterproofing and insulation features.
Innovative Solutions for Market Leadership
Major players in the roofing underlayment market are intensifying their focus on introducing innovative solutions to gain a competitive edge. These innovative solutions encompass advanced products and technologies aimed at enhancing the performance, durability, and functionality of roofing underlayment materials. For instance, CertainTeed introduced RoofRunner AIR in November 2022, a multilayer-coated, breathable synthetic roof underlayment tailored for the Canadian market. Its unique permeable layers allow moisture to pass through, ensuring quick drying of the roof deck and preventing issues such as mildew, rot, and structural damage over time.
Regional Dynamics: Asia-Pacific Takes the Lead
As of 2023, Asia-Pacific holds the position of the largest region in the roofing underlayment market. Furthermore, it is expected to maintain its prominence as the fastest-growing region in the forecast period. The comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Roofing Underlayment Market Segmentation:
The roofing underlayment market, as covered in this report, is segmented based on:
• Product: Asphalt-Saturated Felt, Rubberized Asphalt, Non-Bitumen Synthetic
• Installation Method: Self-Adhesive, Mechanically Attached
• Barrier Property: Water-Resistant, Waterproof
• Application: Residential Construction, Commercial, Non-Residential Construction
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Roofing Underlayment Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Roofing Underlayment Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on roofing underlayment market size, roofing underlayment market drivers and trends, roofing underlayment market major players, roofing underlayment market competitors’ revenues, roofing underlayment market positioning, and roofing underlayment market growth across geographies. The roofing underlayment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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