Commercial Roofing Materials Market
Global Commercial Roofing Materials Market Report, published by Variant Market Research, forecast that the global market was valued at $8 billion in 2016 and expected to reach $10 billion by 2024; growing at a CAGR of 3.6% from 2016 to 2024.
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Commercial roofing comprises plenty of roofing solutions useful on a building’s outside structure. These commercial roofing materials are prepared from several materials such as stone slabs, wood, rubber, asbestos, and others. Numerous application areas such as hotels, offices, medical centers, and malls boost the huge demand for these materials.
Increasing disposable income to drive the growth of the Global Commercial Roofing Materials Market
Factors driving the growth of the global commercial roofing materials market are rising urbanization, increasing disposable income, increasing demand of environmentally friendly and energy-efficient roofing materials and chemicals, and growing commercialization. Though, high price of volatile crude oil & other energy sources which are used in manufacturing procedure may hamper the growth of the market. Furthermore, increasing adoption of roofing materials in construction of green buildings would provide numerous opportunities for the growth of the market in forecasted periods.
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Building type, materials type, and geography are the major segments of the global commercial roofing materials market. The building type segment contains low sloped roofing and steep sloped roofing. The materials type segment is further bifurcated into spray polyurethane foam, metals, single ply products, modified bitumen materials, built-up roofing and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and RoW.
Low sloped roofing accounted for the largest market share in the building type segment
In 2016, low sloped roofing held the major market share in the building type segment and are expected to continue its dominance during the forecast period 2016 – 2024 owing to increasing retail, office, and lodging construction expenditure.
Asia-Pacific is anticipated to grow at a fastest CAGR over the forecast period
Asia-Pacific is expected to attain the fastest CAGR of 5.6% during the forecast period 2016 – 2024, driven by the increasing construction activities in developing economies such as China and India. North America held the major market share of 45.1% in 2016, due to the rising infrastructural expansions and re-roofing activities in the region.
In 2017, Atlas Roofing Corporation announced new shingles with HP42” technology, which offers roofing contractors a quicker installation process & labor savings. The major players operating in the market comprises Firestone Building Products Company, GAF, CertainTeed Corporation, IKO Industries Ltd., TAMKO Building Products Inc., Owens Corning Corporation, Johns Manville Corporation, Duro-Last Roofing Inc., Braas Monier Building Group, and Atlas Roofing Corporation, among others.
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Scope of Commercial Roofing Materials Market
Building Type Segment
- Low sloped roofing
- Steep sloped roofing
Materials Type Segment
- Single ply products
- Modified bitumen materials
- Spray polyurethane foam
- Built-up roofing
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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Variant Market Research offers syndicated and customized reports to fulfill clients’ objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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