Roofing Market - Global Industry Insights, Trends and Growth Opportunity Analysis to 2022
The
global Roofing Market is expected to
display mature growth in forthcoming periods. The roofing market is showing
great signs of growth and average growth rate is slated to improve with
constructions of new hotels and shopping malls. Furthermore an added furor over
energy consumption limits has led construction owners to invest in energy
efficient roofing solutions.
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A need for cost-conscious and economical homes is expected
to contribute to market growth during forecast period. Urbanization and looking
into needs of people has seen government investing copious amounts in
developing residential premises in emerging economies such as India, Russia and
Nigeria.
Segmentation of
roofing market by product includes bituminous roofing, metal roofing and
tile roofing. Segmentation of the market
by end-user industry includes residential sector, commercial sector and
retrofit/renovation sector. Segmentation
of roofing market by geographical region includes North America, Europe,
Asia pacific, MEA and Latin America.
MEA is the region targeting largest growth in roofing
markets with growth attributed to increasing market spend on upcoming buildings
and so is for energy efficient roofing in buildings. The residential sector is
the obvious choice in attracting growth of roofing market by its ongoing
residential constructions and investments in this sector abetting market
growth. The roof coatings market is displaying voluminous growth on account of
environmental friendliness exhibited coupled with technological updates and
spiraling growth rate of construction industry.
Amongst different coatings, bituminous roof coatings are
leading in markets with their easy applicability, creep resistance properties
and less price structure. Growth for roof coatings market looks attractive due
to emittance and reflectivity which is driving realty companies to employ them
in buildings. Roof coatings are finally bad conductors of heat and reflect heat
thus cooling the interior spaces and decrease load on air-conditioning systems
with equivalent cost-savings and energy efficiencies.
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The white coating on the roofs is witnessing increasing
sales and hence augurs well for market growth of roof coatings over forecast
period. The advantages of bituminous coatings are high resistance to mechanical
shambles and an innate property to cover complex surfaces. Bituminous roofing
has made it a natural choice among construction developers to use it in
constructions and availability of colors and designs has given it the makings
of a retrofit application. The leading
industrial players in the roofing market include Brass Monier, Etex, Owens
Corning, Saint-Gobain and Weinerberger, Atlas Roofing, American Hydrotech,
Beacon Roofing Supply and Eagle Roofing Products and IKO Industries.
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