Selbyville, Delaware, March 31, 2021 (GLOBE NEWSWIRE) —
Global Market Insights Inc. has recently added a new report on the roofing materials market which estimates the market valuation for roofing materials will cross US$ 159 billion by 2027. Rising concern over energy-efficient roofing solutions, growing demand for renovation & refurbishment projects, and R&D investments in product developments will positively impact on the market growth over the forecast timeframe.
Growing concern for energy consumption across the developed economies along with increased awareness about energy-efficient roofing solutions is expected to drive the market growth over the forecast timeframe. The growing popularity of green building products in Germany, the U.S., and other European economies coupled with the usage of energy-efficient shingles in these buildings is expected to drive product demand. The rapid urbanization in emerging economies and easy availability of financing options will further support residential construction industry, thereby offering lucrative opportunities for roofing products.
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Concrete & clay tile materials are predicted to generate USD 36 billion revenue by 2027. The improved aesthetics of concrete & clay tiles along with durability of materials is supporting their usage in several residential applications. The material is popular in Europe and Asia Pacific. The integration of these products with solar sales and developments in insulated roofing tiles is expected to further drive industry growth. The material offers several benefits to users including easy to customize, durable, weather & fire resistance, low maintenance, among others.
Reroofing type of construction is set to hold dominance in North America and Europe. The segment held more than 48% volumetric shares in 2020. The region has a large number of aging houses, which require a range of renovation and refurbishment activities. Further, storms and other adverse weather conditions are often seen in the U.S., thereby generating a large demand for reroofing activities. Additionally, affordability of products, easy installation, and advancement in products, such as high impact resistance shingles, will drive the segment growth.
Residential application is expected to hold dominance and showcase growth rate with a CAGR of around 4.6% from 2021 to 2027 in the roofing materials market. Rising population across Asia Pacific and growing residential construction projects in the Middle East and other emerging economies of Asia Pacific are expected to drive the product demand.
The North America roofing materials market generated over USD 29 billion revenue in 2020. Strong demand for renovation projects in the region coupled with the presence of a wide range of industry participants offering a large number roofing materials is expected to drive the industry. Rising construction of new buildings and proliferating indoctrination will further drive the market growth.
Some of the major findings in the roofing materials market report include:
- The market is highly competitive in nature, with the presence of prominent manufacturers such as Owens Corning, Atlas Roofing Materials Corporation, CertainTeed Corporation, and others.
- Rising disposable income and growing demand for new housing projects across the globe will support roofing materials industry expansion.
- Rising environmental concern along with growing popularity of green building projects and usage of advanced roofing materials in these projects is supporting the market growth.
- The U.S. is the major consumer of roofing materials across the globe.
- Industry players are focused on geographic expansion, mergers & acquisitions, product launch, and cost optimization strategies over the long run.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Roofing materials industry 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Type of construction trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Roofing Materials Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2017 – 2027
3.2.1 Covid-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material analysis
3.3.1.1.3.4.1 COVID-19 impact on raw material supply
3.3.2 Manufacturers analysis
3.3.3 Distribution channel analysis
3.3.4 Value chain disruption analysis (COVID-19 impact)
3.3.5 Vendor matrix
3.3.5.1 Raw material suppliers
3.3.5.2 Key manufacturers & distributors
3.3.5.3 Key/potential customers
3.4 Technology landscape
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.5.3 China
3.6 Pricing analysis, by region
3.6.1 Pricing by materials
3.6.2 Pricing by type of construction
3.6.3 Pricing by application
3.6.4 Cost structure analysis
3.6.5 COVID-19 impact on pricing
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Innovation and sustainability
3.9 Growth potential analysis, 2020
3.10 Porter’s analysis
3.10.1 Threat of new entrants
3.10.2 Supplier power
3.10.3 Buyer power
3.10.4 Threat of substitute
3.10.5 Industry rivalry
3.11 Competitive landscape, 2020
3.11.1 Company market share analysis, 2020
3.11.2 Key stakeholders
3.11.3 Strategy dashboard
3.12 PESTLE analysis
3.13 COVID-19 impact on demand for roofing materials by application
3.13.1 Residential
3.13.2 Non-residential
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.