Roofing Systems Market Worth 157.56 Billion USD by 2021
MarketsandMarkets projects that the market for roofing systems will grow from USD 109.72 Billion in 2016 to USD 157.56 Billion by 2021, at a CAGR of 3.06%. The market for roofing systems is growing due to the increasing infrastructure and construction activities. Rising per capita income of the middle class has increased its purchasing power, which has resulted in an increase in the number of new constructions.
Seattle, WA -- (SBWire) -- 10/06/2017 --The report "Roofing Systems Market by Material (Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates, Tiles), Construction Type (New Construction & Reform Construction), End-Use Sector (Residential & Non-Residential) - Global Forecast to 2021", The market for roofing systems is projected to grow from USD 109.72 Billion in 2016 to USD 157.56 Billion by 2021, at an estimated CAGR of 3.06%. This growth is due to the growing construction activities, globally. Government regulations regarding zero energy building codes and green roofing also provide an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.
Browse 216 market data Tables and 57 Figures spread through 201 Pages and in-depth TOC on "Roofing Systems Market by Material (Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates, Tiles), Construction Type (New Construction & Reform Construction), End-Use Sector (Residential & Non-Residential) - Global Forecast to 2021"
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Residential sector to gain maximum traction during the forecast period
The residential sector is projected to be the fastest-growing segment by 2021. The non-residential sector comprises industrial, commercial, and other applications. New construction and remodeling are expected to increase the demand for roofing systems.
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The shingles & plates segment contributes maximum market share to the roofing systems market
Shingles & plates held the largest market share because of their low cost and easy installation techniques. They are the most preferred roofing products for residential buildings, as they are durable and can last for up to 30 to 40 years. Also, growing construction projects, both residential and commercial, have driven the market in this segment. Other roofing products include tiles, sheets, and shakes.
Asia-Pacific to play a key role in the market for roofing systems
On the basis of key regions, the market for roofing systems is segmented into North America, Europe, Asia-Pacific, and RoW. The Asia-Pacific region is the most attractive market for roofing systems. Rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of roofing systems. This region is projected to see the highest number of new constructions and infrastructural activities in the near future.
The global market for roofing systems is dominated by large players such as:
- Compagnie de Saint Gobain SA
- Etex Group NV
- Boral Limited
- Braas Monier Building Group SA
- Owens Corning
- Carlisle Companies Incorporated
- The Siam Cement Public Company Limited
- CSR Limited
- Berkshire Hathaway, Inc.
- Atlas Roofing Corporation
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