The global steep slope roofing materials market is slated to touch a value of about US$ 14,630 Mn in the year 2022 and grow at a sluggish CAGR during the assessment period.
New York, NY -- (SBWIRE) -- 12/29/2017 -- Steep slope roofs are the kind of roofs which have a slope of 3:12 or more. That means for every 12 horizontal inches, the rise in the height of roof is 3 inches or more. Such type of roofs having a steep slope are usually preferred by home owners and architects alike as they add beauty to the elevation of the building and are also good in their performance. Steep slope roofs provide an enhanced aesthetic appeal to the building, possess a long service life, resists the elements of nature and can be maintained easily.
Also, due to the steep slope of the roof, it doesn't allow the water to get collected on the roof, and the water is able to drain out easily from the roof. The growth in the market for steep slope roof materials is directed related to the growth in the construction industry. With the rise in disposable incomes and an increase in the overall economic activity, the construction industry has benefitted, giving a fillip to the steep slope roofing materials market. However, contrary to this, the economic slowdown in certain regions of the world has negatively impacted the construction industry, consequently hampering the growth of the steep slope roofing materials market as well.
4 Forecast Highlights on Global Steep Slope Roofing Materials Market
As per the forecast of Persistence Market Research, the tiles material type segment is slated to touch a value of nearly US$ 1,850 Mn in the year 2022. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The tiles material type segment is estimated to account for more than one-tenth of the revenue share of the material type segment by the year 2017 and is forecasted to lose market share by 2022 over 2017.
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As per the forecast of Persistence Market Research, the re-roofing segment will reach a value of nearly US$ 9,350 Mn in the year 2017. This represents a sluggish CAGR growth during the forecast period. The re-roofing segment is forecasted to account for nearly three-fourths of the total revenue share of the end-market segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
As per the forecast of Persistence Market Research, the strips form type segment is slated to reach a value of nearly US$ 2,890 Mn in 2022. The strips form type segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the strips form type segment.
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Persistence Market Research forecasts the United States steep slope roofing materials market to exhibit a compound annual growth rate (CAGR) of less than 3% from 2017 to 2022.
The report has also included the profiles of some of the leading companies in the steep slope roofing materials market like Atlas Roofing Corporation, Malarkey Roofing Products, Tarco, Inc., Owens Corning, Polyglass U.S.A., Inc., Siplast, Inc., CertainTeed Corporation, TAMKO Building Products, Inc., IKO Industries, Ltd. and Henry Company LLC.
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