Roofing Market Boosted by Growing Adoption of Metal Roofing

Posted by industryarc on August 9th, 2019

Development in the roofing system starting from traditional shingles to current modern coatings is adding to prosperity of the global roofing market. A freshly compiled business report from IndustryARC evaluates that the global roofing market valued at .1 billion for the year 2018, and projects the opportunities to grow with a CAGR of 6% during the forecast period 2019-2025. This is mainly attributed to the fact that the roof is an indispensable component for maintaining a safe home.  

The report is titled: “Roofing Market: By Type (Asphalt Shingles Roofing, Metal Roofing, Others); By Application (Reroofing, New Construction Roofing) & By Region – Forecast (2019 - 2025).” It comprises of market drivers, market trends, market opportunities, competitive landscape, and strategic analysis of the global roofing market.

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https://www.industryarc.com/Report/18234/roofing-market-research-report-analysis.html

Roofing Market: Leading Segments

Transparent roofing, PMMA roofing, polymer roofing, asphalt shingles roofing, metal roofing, elastomeric roofing, built-up roofing, and modified bitumen roofing are the majorly used roofing in the present-day construction. These types of roofing differ from various roofing materials and their lifespan. New construction roofing application is projected to grow at a CAGR of 8% throughout the aforesaid forecast period of the IndustryARC report. Metal roofing is rising the resale value of a home, thus it has become the superior choice of owners and buyers as well.

Increased government spending, investment, and rising urbanization are the key factors which are empowering the APAC economy. According to the Building & Construction Authority, total construction demand in Singapore will reach  billion by the end of 2019.[1] Even distribution of industrial, residential, and infrastructural projects coupled with the healthy spread of construction projects across ASEAN are enabling the growth of Asia-Pacific region in the roofing market. Therefore, APAC ruled out with a regional share of 76% among other regions in the global roofing market as of 2018.    

Roofing Market: Disruptive Trends

Strong and durable metal roofing is preferred by the buyers because of its longevity, resistance against restless rains, fire, snow, high winds, hail and no scope for cracks and splits.

Eco-friendly metal roofing is emerging at a faster rate as it is easy to install. It comprises a high percentage of recycled material so that it can be recycled without affecting the environment whenever needed.  

Advanced roofing technology named 3D printing is providing fruitful results and progressing at a greater rate. Growing adoption of 3D printing by the contractors to attract the building owners with new roof looks in hand before construction.

Widespread use of stainless nails, and liquid sealants in roofing, as it makes the roof installation at ease, and the process even more cost-effective.

Growth in the number of shingle roofs and metal roofs which are associated with thin solar panel installation, due to the increasing concern of people regarding the efficient utilization of energy.

New innovation namely drone technology which is embracing the contractors and assisting the roofers to work with comfort at the job site instead of dying in the hot sun. It increases the speed of work by collecting data regarding measurements and damage parts at a faster rate as a part of aerial surveillance.  

Roofing Market: Competitive Landscape

GAF, Johns Manville, Duro-Last Roofing Inc., Atlas Roofing Corporation, Certain Teed Corporation, IKO Industries Ltd., Owens Corning, Firestone Building Products Company, TAMKO Building Products Inc., Carlisle, and Brass Monier Building Group Services S.A. are the prominent players which are operating with major shares in the global roofing market.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.