Roofing Market | Strategies, Industry, Growth Analysis, Future Scope, key Drivers
(industrietreff) - The global roofing market is expected to register a 3.55% CAGR during the forecast period of 2018 to 2023. The global roofing market is expected to witness substantial growth during the forecast period. Asia-Pacific accounted for the largest market share of 30.13% in 2017 due to the growth of the building & construction industry and the improvement in financial conditions in this region have led to the rise in the demand for roofing market. North America is estimated to be the second largest region for the roofing market due to the presence of several roof providers in the region, such as Atlas Roofing Corporation, BMI Group Services GmbH, and Carlisle Companies Inc.
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The prominent players profiled in the global roofing market are Atlas Roofing Corporation (US), BMI Group Services GmbH (US), Carlisle Companies Inc.(US), GAF Materials Corporation (US), North American Roofing Services, Inc.(US), Owens Corning (US), TAMKO Building Products, Inc. (Tamko)(US), Wienerberger AG (Austria), CertainTeed Corporation (US), Duro-Last, Inc.(US), Etex SA (Belgium), and Firestone Building Products Company (US). Mergers, acquisitions, and collaborations are some of the key growth strategies adopted by these companies to stay competitive in the market.
By Roofing: Asphalt, Tiles, Metal, Concrete, and Others
By Application: Commercial Roofing, Residential, and Industrial
By Region: North America, Europe, Asia-Pacific, the Rest of the World
The global roofing market has been studied for five key regions—North America, Europe, Asia-Pacific, and the Rest of the World.
As Asia-Pacific is the largest consumer of roofing materials, with China, India, and Japan being the major markets. The growth of the building & construction industry and the improvement in financial conditions in this region have led to the rise in the demand for roofing. Moreover, growth in industrialization and urbanization in emerging economies, such as China, India, and Japan boost the growth of the roofing market. Furthermore, the availability of low-cost roofing and building materials in countries, such as China and India, are also fueling the market growth. Thus, Asia-Pacific is anticipated to be a major market for roofing during the forecast period. It has been projected to witness a CAGR of 3.99% during the forecast period.
In North America, factors such as the growing investments in commercial real estate, high consumer spending, and increasing industrial activities propel the market growth in the region. Additionally, stringent government regulations regarding utilization of roofing materials, such as metals also boost the market growth in the region. The roofing market in North America is expected to grow at a CAGR of 3.69% during the forecast period.
In October 2018, CERTAINTEED announced its a purchase agreement with Winder for its finish line products. Winder is a leading manufacturer of high-quality drywall finishing solutions.
In March 2019, Duro-Last, Inc. launched its silicone-based Duro-Shield roofing materials and coating products. These products are designed to withstand natural weathering while facilitating long-term watertight protection on several different substrates.
In April 2017, Firestone Building Products Company acquired Gaco Western (Gaco). Gaco offers innovative silicone roofing systems and provides waterproofing and spray foam insulation. Through this acquisition, Firestone Building Products Company strengthened its product portfolio.
ey questions addressed by the report
What was the historic market size (2017)?
Which segmentation (Roofing/Application) is driving the market?
What will be the growth rate from 2018 to 2023?
Who are the key players in this market?
What are the growth strategies adopted by the key players?
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