Transparency Market Research has published a new report titled “Roofing (Bituminous Roofing, Metal Roofing, Tile Roofing and Others) Market for Residential Construction, Commercial and Nonresidential Construction Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”. According to the report, the global market for roofing was valued at US$ 64.49 Bn in 2013 and is anticipated to reach US$ 97.59 Bn in 2020, expanding at a CAGR of 6.3% between 2014 and 2020. In terms of volume, the market stood at 10,600.9 million square meters in 2013.
Browse the full Roofing Market Report: http://www.transparencymarketresearch.com/roofing-market.html
Demand for roofing materials was the largest from Asia Pacific, accounting for approximately 40% share of the overall market in 2013. Emerging economies of China and India are the top markets for roofing materials owing to rapid infrastructural development in these countries. Roofing materials are used significantly for residential and nonresidential applications in these countries. Demand for commercial roofing is rising considerably in Asia Pacific, as many companies have set up their production units in countries in Southeast Asia. Additionally, the market for commercial roofing in Asia Pacific is likely to witness the fastest growth rate during the forecast period. Construction activities and natural calamities such as earthquakes and storms are the two major factors driving the roofing market.
Demand in developed regions such as North America has particularly been high in commercial and healthcare applications due to increasing usage of ceiling tile products such as bituminous roof tiles. Various types of roofing materials are used in North America; these roofing materials are used in different buildings such as offices, hotels and educational institutes. Out of these, bituminous materials are the primary choice for roofing due to their high quality and low cost of installation. Furthermore, due to the presence of a large construction industry in North America, particularly in the U.S., the market for roofing materials has been significantly high in various applications ranging from commercial to industrial.
Factors such as high demand in the current and emerging applications, modernization, and development of infrastructure have been some of the key factors driving the demand for roofing materials in Europe over the past few years. In addition, several initiatives conducted by the U.K. based organization, Waste Resource and Efficiency Plan (WRAP) to ensure the resources used for the production of roofing materials are utilized properly or these have no detrimental impact on the environment, have also contributed to the growth of the market. Several initiatives towards technological innovations in waste material logistics have enhanced the sustainability of the U.K. construction industry. In the RoW region, South America accounts for the majority of the demand for roofing materials, as innovative roofing materials are being widely used in this region due to changing lifestyles and growing need for better living conditions. Rising income levels and favorable government policies in economies such as Brazil and Argentina have also fuelled the demand for roofing materials.
Roofing Market - Product Segment Analysis
- Bituminous
- Metal
- Tile
- Others (Including fiber cement, plastic, etc.)
Roofing Market - Application Analysis
- Residential construction
- Commercial
- Nonresidential construction
Roofing Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World
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