Roofing Market Potential
Roofing market outlook 2027
The market for roofing in the world was $92,942.3 million in the year 2019 and is expected to grow to $132,775.6 million in 2027, with an increase of 4.6 percent from 2020 to 2027. Roofs provide protection from heat as well as rain and other weather conditions. Bitumen ceramic coated granules clay, sand, fiberglass polycarbonate and concrete are used in building roofs on commercial and residential buildings including hotels, offices and educational institutes.
Construction industry growth rapid urbanization and technological advancements are the major factors driving the expansion of the roofing industry. Additionally, technological advancements like green roofing and eco-friendly roofing materials and drones for roof inspections have boosted demands for roofing materials. However the cost of installation of roofing systems is predicted to hinder the roofing market expansion.
Major players in the market are focused on developing effective roofing systems to guarantee longevity even in toughest weather conditions. This can lead to lucrative opportunities to grow the market during the forecast time. For example, Atlas Roofing Corporation offers ThermalStar GX Series. It’s built on cutting-edge technology that includes R5 /in products that provide an alternative to other wall-based applications. Additionally, Johns Manville offers GlasKap CR G. It’s reflective granulated cap sheet that is used for flashing or caps sheet in roofing systems that are built-up. CR G membranes are sprayed using white, reflective mineral. They can be installed with typical granulated cap sheet install techniques.
The increase in the quantity of non-residential developments in the emerging economies like schools, hotels hospitals, industrial structures, is predicted to boost the requirement for bituminous roofing over the next few years. Energy-efficient roofing systems are readily available due to the advent of new roofing technology. Newer technologies, like green roofing, can increase the life of roofs and increase security, improve the quality of air and decrease noise and cost of air conditioning. Modernization of technology will result in improved aesthetics and is expected to boost this industry of roofing over the near future. The impact of the latest technologies isn’t too significant, but its impact is anticipated to grow in the near future due to the increase in the use of bituminous roofing for commercial and residential buildings.
The market is divided according to the type of material, its type, application, and geographic region. According to the type of material the market is classified into bituminous roofing, steel roofing and tile roofing and other. In terms of type, the market is divided into commercial, residential and industrial. Based on the kind the market is split into slope and flat roof. Bituminous roofing was the highest percentage of the market worldwide in the year 2019 and is expected to continue to hold its place throughout the forecast time frame due to its ease of installation, greater durability, a longer lifespan and the latest technological advances.
Furthermore, the governments of countries like India, China, and other countries have invested heavily in infrastructure development. This drives an increase in demand for bituminous roofing within the world market. The residential market is expected to experience the greatest growth, because of the growing popularity of green roofing techniques and the increase in investments in the real estate industry.
In addition the market is studied over North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific is predicted to dominate the market globally during the study period because of the growth of urbanization and an increasing infrastructure investment. China is the leading market in on the Asia-Pacific roofing market for 2019. This is due to the rise in incomes and rapid industrialization, and an increase in government initiatives to invest in the development of infrastructure.
The major market players that are profiled in the report on the roofing industry comprise Atlas Roofing Corporation, Duro-Last, Inc., BASF SE, 3M Company, The Dow Chemical Company, Owens Corning, Standard Industries Inc., E. I. du Pont de Nemours and Company, Berkshire Hathaway Inc. as well as Sika AG.
The leading players operating in the world roofing market have adopted strategies like product launches and business expansion to expand their market reach and sustain the intense market.
Principal Benefits for Stakeholders
The report provides a comprehensive analysis of current and emerging trends in the roofing industry and the dynamics.
A thorough analysis of the roofing market is carried out by constructing estimates for the most important segments between the years 2020-2027.
An extensive analysis of the market for roofing is done by monitoring the key positioning of products and keeping track of the most powerful competitors within the market structure.
A thorough analysis of each region is presented to identify the most lucrative opportunities.
The forecast for the global roofing market analysis of 2020-2027 is contained in the report.
The main players within the market are analyzed in this study, and the strategies they employ are thoroughly studied and help to to understand the outlook for competition in the market.
Worldwide Roofing Market Segments
by Material Type
Other (RCC and Plastics)
Rest of Europe
Rest of Asia-Pacific
Brass Monier Building Group
Beacon Roofing Supply, Inc.
Atlas Roofing Corporation