Construction boom positively impact the market
According to a TMR analyst, the exponential rise in the valuation of the global commercial roofing materials market is caused by the surge in construction boom all over the world. It has been duly noted that renovation and restoration of old buildings and monuments is helping the market to grow. The market based on building type is divided into step sloped roofing and low sloped roofing. Low sloped roofing held a major portion in the market in the past and is predicted to continue so in the future.
Based on the material type, the commercial roofing materials market is classified into modified bitumen materials, single ply products, metal and collective segment of minority materials, spray polyurethane foam, and built-up roofing. Modified bitumen materials has dominated amongst others in this segment in the recent years. Single-ply products are sub divided into thermoplastic polyolefine, polyvinyl chloride, and ethylene propylene diene monomer.
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High Cost in Installation Likely To Stall the Market Growth
Renovation and restoration activities which are witnessed more by the developed countries would help of provide more favorable chances for the growth in the market. The increase in use of single ply products is also expected to aid the growth of the market in the years to come, studies the report. On the other hand high cost suffered while installing the commercial roof is probably going to burn the pockets of the builders. This is expected to stall the growth of the global commercial roofing materials market in the future. It has also been noted that uneven lifespan of different materials is expected to play an important role in bringing down the market, states the report.
The review is based on a report by Transparency Market Research (TMR), titled “Commercial Roofing Materials Market (Building Type – Low Sloped Roofing and Steep Sloped Roofing; Materials – Single-ply Products, Modified Bitumen Materials, Spray Polyurethane Foam (SPF), Built-up Roofing (BUR), and Metals) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”