9-May-2019: The global roofing materials market size is
expected to reach USD 154.20 billion by 2025, according to a new report by
Grand View Research, Inc., registering a CAGR of 4.2% during the forecast
period. Thriving construction industry owing to consistent economic growth,
coupled with low interest rates leading to increase in approval of building
projects, is expected to aid market expansion.
Growing trend of development of
reflective coatings for dark-colored roofing materials, which enable better
heat reflection and reduce overall energy requirements, is presumed to fuel
market expansion. In addition, evolving technology to improve the
weatherability, installation, and aesthetics of the membrane roofing material
is projected boost product demand.
The market exhibits the
presence of a large number of substitutes, including living roofs, restoration
coatings, and solar and SPF roofs. These materials have better performance
characteristics as compared to common roofing materials available in the
market. However, high maintenance and installation cost are expected to limit
their growth, resulting in moderate threat of substitutes.
The industry is characterized
by high brand loyalty, coupled with established long-term relationships between
customers and manufacturers. Major market players are focusing on enhancing
their brand reputation by offering a wide range of products with better quality
standards as compared to competitors.
In
depth research report on Roofing Materials Market
Further
key findings from the study suggest:
· On the
basis of product, concrete and clay tile dominated the roofing materials market
in 2018 and accounted for 35.6% share in the overall revenue, which can be
attributed to their ease of installation, availability, durability, energy
efficiency, and low cost
· In
terms of revenue, the residential application segment is expected to register a
CAGR of 4.4% over the forecast period. This could be attributed to rising
residential construction in emerging economies due to increasing population and
stable economic growth
· Asia
Pacific emerged as the largest regional market in 2018 and is expected to reach
USD 51.81 billion by 2025 owing to increasing infrastructure development
activities, including renovation of airports, setting up of SEZs, and
establishment of IT parks
· In
terms of revenue, China is estimated to exhibit a CAGR of 5.8% over the
forecast period owing to government initiatives to encourage sustainable
construction practices and increase energy efficiency
· Industry
players are focusing on inorganic growth by expanding their product portfolio
to provide next generation solutions to their customers. In addition, they are
aiming to integrate their manufacturing and distribution operations to increase
their profit margins.
Grand View Research has
segmented the global roofing materials market on the basis of product,
application, and region:
Roofing
Materials Product Outlook (Volume, Million Square Meters; Revenue, USD Billion,
2014 - 2025)
· Asphalt
Shingles
· Concrete
& Clay Tile
· Metal
Roofs
· Elastomers
& Plastic
· Others
Roofing
Materials Application Outlook (Volume, Million Square Meters; Revenue, USD
Billion, 2014 - 2025)
· Residential
· Non-Residential
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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