The global roofing market is significantly versatile and dynamic. The roofing market has wide range of diversified material and is among the utmost vital building material markets. The generous growth in the construction engineering and the cumulative trend of home perfection and renovation project actions is likely to enhance this market significantly over the forecasting years.The mounting number of suburban constructions in numerous emerging nations and the modernization activities of established building in mature economies, particularly in North America and Europe, are also projected to quicken the growth rate of this market in the near future. However,the surging concerns over the harmful effect of certain chemicals used in the manufacturing of roofing products is leading tosevere challenges over this market.
Roofing market has been segmented into commercial, residential and industrial sectors by application. Aconfounding rise in the demand of the residential building all over the world,is promoting the roofing market growth, specifically for bituminous roofing. With the growing disposable income and expenditure of clients on high quality products as well as artistically appealing ones, the thriving rate of urbanizationhas created a substantial momentum for the demand for tiles and other roofingaround the world.
Tiles, metal, bituminous and plastics are the major material for constructing roof of a building. The demand for Tiles has been enormous in comparison to other materials. Tile and bituminous materialroofingare also projected to record a healthy growth in the near future due to their wide-ranging usage in households.Luxury vinyl tile (LVT) and wood-polymer composites (WPC) revealing double digit growth rates. Metalroofing and elastomericroofing will observe a limited demand due to their high costs and complex setting up mechanism.
The global roofing market is segmented by regions on the basis of revenue. North America, Europe, Asia Pacific, Middle-East & Africa and Latin America are the regions which are taken into account for segmentingthe roofing market. The Asia Pacific region contains high economic growth; massive population and growing disposable per capita income are encouraging better lifestyle among the population. This is resulting in gigantic growth of building construction and building material. In Asia Pacific,China is accounted as the primary consumer of roofing material and expected to remain the same during the forecast period. Japan, Korea and Australia are major consumer of the floor material as well. India also demonstrates a substantial potential for the growth in its roofing market as a considerable percentage of roofing is presently constructed from non-standard materials.
Europe is another projecting regional market for roofingmaterials. Although the roofing market in Europe is comparatively mature.Invention and new technological developments in roofing products, such as metals,tiles, and bituminous are anticipated to boost this market considerably in the coming years.
Some of the major players in the roofing market are Atlas Roofing Corporation, Duro-Last Roofing Inc., GAF, Johns Manville, Carlisle, Iko Industries Ltd. and so on.
GLOBAL rOOFING Market: By Geography
GLOBAL roofing Market: By Application
GLOBAL Roofing Market: By Product type