WASHINGTON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Construction sector is one of the fastest growing sectors in industry and roofing system is considered to be the backbone of construction. Increase in construction activities across the globe is the key factor for roofing system market to grow in coming years, states Vantage Market Research, in a report, titled “Roofing Systems Market by Roofing Material (Bituminous Roofing, Metal Roofing, Tile Roofing, Others), by Application (Residential, Commercial, Industrial), by Roofing Type (Flat Roof, Slope Roof), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size stood at USD 126.98 Billion in 2021. The Global Roofing Systems Market size is expected to reach USD 157.23 Billion by 2028, exhibiting a CAGR of 3.1% during the forecast period.
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The report on roofing systems market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Value Chain Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Porter’s Five Forces Analysis
- Global and Regional Dynamics
Market Overview:
Rise in Disposal income to promote Construction Activities is Expected to Drive the Roofing Systems Market.
In recent years, the lifestyle of generic population is increasing due to high income and stable standard of living. Many people like to invest in construction activities to dispose of their extra income. This is the key reason major construction projects are being carried out globally. As roofing system is considered to be the main part in construction sector which gives protection as well as better looks, a majority of investors are investing in special roofing system for better looks and safety.
High Cost of Raw Material and Installation is Hindering the Roofing Systems Market
Roofing material comes in various types; the most expensive one is steel. Day by day the cost of raw material is rising and with material hike cost of production is getting higher. The manufacturers are finding solutions for cutting down the cost by implementing hybrid roofing system. Installation costs are quite high for constructing roofing systems which is also restraining the growth of roofing system market.
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Regional Analysis:
Increasing Growth of Roofing Systems Market in Asia Pacific
Asia Pacific is anticipated to grow at the highest CAGR in the projected period. This is attributed due to presence of key players of roofing systems manufacturers. Countries such as India and China are growing and gaining huge potential in construction activities due to growing industrialization and urbanization. For instance, India is expected to be the largest manufacturer of Roofs in 2025 due to high demand and rising infrastructure projects. These are some of the factors that are driving the roofing system in Asia Pacific
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COVID-19 Analysis:
The COVID-19 outbreak has affected various industries worldwide. The roofing systems market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced construction activities further affected the demand roofing systems device manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Region 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Roofing Systems Market?
- How will the Roofing Systems Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Roofing Systems Market?
- What are the Roofing Systems market drivers and restrictions?
- What will be the CAGR and size of the Roofing Systems Market throughout the forecast period?
List of Prominent Players in the Roofing Systems Market:
- Etex Group NV (Belgium)
- Compagnie de Saint Gobain SA (France)
- Boral Limited (Australia)
- Owens Corning (U.S.)
- Braas Monier Building Group SA (Luxembourg)
- Carlisle Companies Incorporated (U.S.)
- CSR Limited (Australia)
- Berkshire Hathaway, Inc. (U.S.)
- The Siam Cement Public Company Limited (Thailand)
- Atlas Roofing Corporation (U.S.)
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Recent Developments in the Industry:
In September 2021, Atlas Roofing Corporation announced the launch of its StormMaster® Hip & Ridge shingle featuring the company’s proprietary Core4™ Enhanced Polymer Technology, which allows the shingle to provide extra strength, flexibility, durability and extreme weather resistance. Atlas Roofing, an innovator in shingle technology, says Core4 surpasses standard styrene butadiene styrene (SBS) asphalt for overall better rooftop performance. By including Core4 in its hip-and-ridge shingle lines, Atlas further raises quality and performance expectations across the industry.
In March 2019, Owens Corning launched PINK Next Gen™ Fiberglas™ Insulation. The advanced fiber technology of PINK Next Gen™ Fiberglas™ creates a tightly woven network of soft, fine fibers to form a super-resilient blanket of insulating micro-pockets. Leveraging several new technology innovations, the new product is safe for installers and residents and faster to install than competitive insulation products and spray foam insulation. Because no hazardous chemicals are required to be mixed on the install site, there is less potential for human error, increasing peace of mind for installers and residents.
This market titled “Roofing Systems Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 126.98 Billion |
| Projected Market Size in 2028 | USD 157.23 Billion |
| CAGR Growth Rate | CAGR of 3.1% from 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Roofing Material: - Bituminous Roofing, Metal Roofing, Tile Roofing, Others Application: - Residential, Commercial, Industrial Roofing Type: - Flat Roof, Slope Roof |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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