Portland, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The report analysed by Maximize Market research, on Roof Cladding Market, covers an extensive business environmental analysis, regulatory landscape, and value chain analysis. Over the forecast period, Maximize Market research estimates the roof cladding market to grow from 82.5 Billion in 2021 to 119.13 Bn in 2029 at a CAGR of 4.7%.
Roof Cladding Market Scope and Research Methodology
MMR implement a mix of primary and secondary research for roof cladding market estimates and forecast. Secondary research forms the initial phase of market research where MMR conduct extensive data mining and refer to verified data sources such as independent studies, government & regulatory published material, technical journals, trade magazines, and paid data sources. For forecasting market, several parameters are considered like drivers and restraints along with their current and expected impacts, band type scenario and expected developments, application industry trends and dynamics and trends in consumer behaviour.
The report provides the roof cladding market value for the base year 2021 and a yearly forecast until 2029 in terms of volume (Billion Square Feet) and revenue (USD Billion). The market for each product and application has been provided on a regional basis for the forecast period. The key industry dynamics, regulatory scenario, and application markets are evaluated to understand their impacts on the product demand over the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis. MMR used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various products, applications, and end uses. The global roof cladding market has been estimated by integrating the regional markets. All market estimates and forecasts have been validated through primary interviews with the key industry players.
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Roof Cladding Market Overview
Roof cladding structures are widely used in building & construction industry with applications in residential, commercial, offices, institutional, and industrial constructions. These structures are used to protect buildings against heavy rainfall and highpressure winds. This system also provides thermal insulation to the buildings, as well as is fireproof and weatherproof.
Over the next decade the construction sector is expected to be one of the most dynamic and high growth sectors of the world economy. Rapid growth and development of urban areas results in shorter construction timelines and reduced costs. With increasing urbanization there is a growing trend in the deployment of cladding systems due to their efficient designs and sustainability.
Roof Cladding Market Dynamics
The market growth for roof cladding products and systems is highly dependent on global residential and commercial construction investments. The construction industry has been witnessing tremendous and unprecedented changes due to economic instabilities and is gradually shifting towards Asian countries such as China, India, and Japan. Growing favorable government policies for green buildings and increasing demand from the construction industry are the major factors driving the roof cladding market. The growing awareness regarding solar roofing is likely to provide numerous opportunities for major manufacturers over the forecast period.
One of the major restraints for growth of the roof cladding market is the scarcity of skilled workforce for installation, availability of materials, the insufficient dissemination of knowledge, and the poor quality materials being supplied by some suppliers. Cladding systems need to be commissioned by trained professionals that ensure correct installation and bring out the best results. But in most of the regions, there exists a major issue of lack of a trained workforce.
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Roof Cladding Market Regional Insights
Asia Pacific roof cladding market is expected to exhibit the fastest growth over the forecast period thanks to the massive potential of the construction industry in the region. Construction industry in Asia Pacific is expected to outperform on account of rising per capita income, rapid urbanization, and growing population. Economies in the region are expected to flourish over the forecast period on account of massive investments by various governments for the development of public infrastructure and the expansion of residential construction sector, which is expected to benefit the roof cladding market in Asia Pacific.
| Market Size in 2021 | USD 82.5 Bn. |
| Market Size in 2029 | USD 119.13 Bn. |
| CAGR | 4.7% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segement Covered | Material Type, Roof Type, Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Roof Cladding Market Key Competitors:
- Cembrit Holdings A/S
- Owens Corning
- CertainTeed Corporation
- Decra Roofing Systems Inc.
- BMI Group
- Everest Industries Limited
- IKO Industries Ltd.
- Firestone Building Products
- Johns Manville
- Kingspan Group
- Reed's Metal Inc.
- GAF
- Shildan Group
- TAMKO Buildings Products, Inc.
- Sika AG
- Carlisle Companies Incorporated
- Westlake Corporation
- Atas International, Inc.
Key questions answered in the Roof Cladding Market are:
- Which emerging economies are witnessing a rapid rise in demand for residential structures?
- What factors are expected to drive the demand for roofing materials?
- Which roof material type is expected to emerge as the fastest growing segment?
- Which application segment is expected to hold the largest market share?
- What factors are expected to support the growth of new residential roofing market as well as re-roofing activities?
- Why and how major companies in roof cladding market are adopting strong market positioning startegies?
- What strategies are implimented by major companies to achieve a competitive advantage over local manufacturers and suppliers?
- What are the current manufacturing and technology trends in the roof cladding market?
- Which regulations are driving or restraining the roof cladding market growth across various countries?
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Key Offerings:
- Roof Cladding Market Current Size and Share, Forecast by Revenue (2022−2029)
- Roof Cladding Market Variables, Trends & Scope, Roofing Materials Value Chain Analysis, Regulatory Framework
- Market Dynamics: Growth Drivers, Market Restraints, Investment Opportunities, Market Challenges and Manufacturing Trends, Technological Trends
- Business Environment Analysis: Supplier Power, Buyer Power, Threat Of New Entrants, Threat Of Substitutes, Competitive Rivalry and Political Analysis, Environmental Analysis, Social Analysis, Technological Analysis, Economical Analysis, Legal Analysis
Maximize Market Research is leading chemical and materials research firm, has also published the following reports:
Rainscreen Cladding Market: The Rainscreen Cladding Market is expected to reach USD 220.02 billion by 2029 at a CAGR of 7.1 percent during the forecast period. The Rainscreen Cladding Market is driven by growth of construction industry and favorable government regulations.
Cladding Systems Market: The Cladding Systems Market is expected to reach USD 410.92 billion by 2029 at a CAGR of 5.44 percent during the forecast period. The Cladding Systems Market drivers are rapid development and a cumulative number of construction projects.
Residential Roofing Market: The Residential Roofing Market is expected to reach USD 14.29 billion by 2029 at a CAGR of 4.7 percent during the forecast period. The Residential Roofing Market growth is expected to be driven by rising demand for residential roofing due to its high re-resistant roofing advantages from end-use applications.
Waterproofing Systems Market: The Waterproofing Systems Market is expected to reach USD 99.09 billion by 2029 at a CAGR of 7.1 percent during the forecast period. The Waterproofing Systems Market growth is expected to be driven by the Α technology and rapid-curing resin technology and growing construction industry in Asia Pacific region.
Waterproof Adhesives and Sealants Market: The Waterproof Adhesives and Sealants Market is expected to reach USD 35.81 billion by 2029 at a CAGR of 6.2 percent during the forecast period. The Waterproof Adhesives and Sealants Market growth is expected to be driven by rising public infrastructure investment across the globe.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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