Global Composite Slate Roofing Market Information, By Type (Shingles, Tiles and Shake), By Application (Residential, Non-Residential) and Region - Forecast to 2023

Pune, India -- (SBWire) -- 02/21/2018 --Market Highlights

Composite slate roofing have been the best roofing material of choice for last few decades for residential and non-residential infrastructure. Composite slate roofing is usually made from plastic or rubber, or a combination of both. Some roofing manufacturers use recycled materials, while others use virgin resins. It is also called as synthetic slate roofing. Popular colors for composite slate roofing shades include red, grey-blue, purple-grey, green and black. The growing population, improved standard of living, growing demand for packaged products are expected to drive the growth of the global composite slate roofing market. Features such as longer shelf life and user friendly solutions in terms of storage are expected to fuel the market. Composite slate roofing is designed to meet all the physical requirement of the supply chain to ensure that the product arrives on time while preserving the texture and convenience to handle.

Key Players
The key players of global composite slate roofing market include DaVinci Roofscapes, LLC (U.S.), Ply Gem Roofing (U.S.), CertainTeed Corporation (U.S.), Enviroshake Quality Engineered Roofing (Canada), EcoStar LLC. (U.S.), Moderne Slate Roofing Systems (U.S.), Baker Roofing Company (U.S.), Colorado Roofing Contractors, LLC (U.S.), Inspire Roofing Products (U.S.) and Brava Roof Tile (U.S.) others.

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Market Research Analysis:
The global market for composite slate roofing market is expected to grow over the CAGR of around 2.90 % during the period 2017 to 2023. Asia-Pacific region holds largest share in the global market. Rapid lifestyle changes and economic growth, coupled with rising population in China and India have spiked the growth rate of composite slate roofing in the region. Chinese government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. Europe was the second-largest market for the global composite slate roofing in 2016. Rise in the residential replacement activities, rising environmental concerns and the growing interest in energy saving & cost benefit construction, are the factors driving the growth of the market in European region.

Shingles will be the largest segment
On the basis of type, Shingles accounted for the largest market share of 67.42% in 2016 and is projected to grow at the highest CAGR of 4.23% during the forecast period.

In the roofing industry there are many different types of shingles. It is made up of various materials such as wood, slate, fiber cement, metal, plastic, and composite material such as asphalt shingles. The types of roofing shingles available differs based on size, shape, color, thickness and material. Slate shingles have been known to last anywhere from more than 50 years and have some of the best water and damage resistance properties, which is ideal for frigid winter temperatures.

Asia-Pacific is the largest & fastest growing market for composite slate roofing, followed by Europe and North America. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region. In 2016, it accounted for a market value of USD 1,136.6 million; and is projected to grow at a CAGR of 4.82% during the forecast period. Europe takes second place in the composite slate roofing market. Rise in the residential replacement activities, rising environmental concerns and the growing interest in energy saving & cost benefit construction, are the factors driving the growth of the market in European region. Europe accounted for the market value of USD 651.6 million and is projected to grow at a CAGR of 4.02% during the forecast period.

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