Overview:

The roofing material refers to the additional layer on the roof of a building that is mainly supported by a basic building structure. These roofing layerscomealong with the design variations based on durability, aesthetics, materials, and the nature of the supporting structure.

Market Dynamics:

Growing construction sector and investment for the new commercial construction activities including malls, hotels, etc. are driving the global roofing materials market. According to the data published by Institution of Civil Engineers (ICE) organization, global construction market will grow up to USD 8 trillion by 2030 and it is mainly driven by china, US, and India. Increasing renovation activities worldwide are expected to boost growth of the global market in the near future. Further, growing adoption of eco-friendly materials for the roofing of commercial and residential buildings is one more factor expected to augment target market growth in the near future.

At a time when the COVID-19 pandemic is destroying multiple sectors, public building has been one of the few sectors that has been sustained to some degree. While operation is likely to begin in the near term, work is expected to stop quickly due to numerous reasons, including supply chain instability, shortages of subcontractors and materials. These factors will support the growth of the target market in the upcoming years.

Key Trends:

Key players in the global roofing material market are focusing on the mergers, acquisition as well as and product developmentin order to strengthen their product efficiency inthe global market. For instance, in 2018, АtlаѕRооfіngСоrроrаtіоn introduced their new roofing material product LegendDеѕіgnеrFіbеrglаѕѕЅhіnglеѕ along with high contrast color and bold cuts.

Regional Analysis:

For detailed understanding of market dynamics, the global marketis analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacificregion is expected to account for the largest share in terms of revenue over the forecast year. The growth is mainly attributeto rising construction activities of residential as well as commercial sectors in the countries of this region. Rapid urbanization in the countries such as China and India of the region are propelling demand for the construction and in turn fuelling growth of the global market. The market in Europe is the expected to register significant CAGR during the forecast period, owing to growing huge demand for the roofing materials for various end use applications.

Scope of the Report:

Detailed Segmentation:

Global Roofing Material Market, By Type

• Tile roof
• Metal roof
• Plastic roof
• Asphalt shingles

Global Roofing Material Market, By End use

• Residential
• Commercial
• Non-Residential

Key Players Covered:           

Key players operating in the market includesJohns Manville Corporation, The DOW Chemical Company, 3M Company, Owens Corning Corporation, BraasMonier Building Group, Duro-Last Roofing Inc., GAF Materials, Atlas Roofing Corporation, Sika AG, and BASF SE

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Roofing Material Market by type, end use, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.