San Francisco, 18 April , Roofing Materials Market Size, Share &
Trends Analysis Report By Product (Asphalt Shingles, Concrete & Clay Tile),
By Application (Residential, Non-residential), By Region, And Segment
Forecasts, 2019 - 2025
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.
Access Full Research
Report On Roofing Materials Market Analysis:
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.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/green-building-materials
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
Roofing Materials Regional
Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
o
Spain
·
Asia Pacific
o
China
o
India
o
Japan
·
Central & South America
o
Brazil
·
Middle East & Africa
o
South Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-roofing-materials-market
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, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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