Commercial Roofing Materials Market Poised to Rake in US$273.2 mn by 2024
Added: (Fri Dec 21 2018)
Commercial Roofing Materials Market Overview:
Commercial roofing materials provide durability and aesthetic appeal to a roof and they are essential part of an infrastructure. Material selection is highly dependent on geographical location, for instance, shingles are very much in demand in Americas whereas they are very less preferred in Asia Pacific. Commercial roofing materials are primarily segmented into low sloped roofing and slow sloped roofing and further they are segmented according to the type of materials. In terms of revenue, the global commercial roofing materials market was valued at US$7.5 bn in 2015, and is expected to reach US$10.38 bn by 2024, after expanding at a CAGR of 3.6% within a forecast period from 2016 to 2024.
Commercial Roofing Materials Market: Dynamics
In recent years, the construction sector has witnessed significant surge in commercial activities indorsing high growth of the market around the world. Further, increase in re-roofing activities in developed economies is another major factor driving the demand of the commercial roofing materials market. Also, Developed economies are expected create to more opportunities for the growth of the commercial roofing material market due to theses increasing renovation activities. Among the building type, low sloped roofing segment is expected to account for higher market share as compared to slow sloped roofing due to its low cost availability and great flexibility. However, market of the commercial roofing materials could be restricted due to its variable lifespan to some extent.
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Commercial Roofing Materials Market Segmentation:
On the basis of building type, Commercial Roofing Materials market is segmented into:
- Low Sloped Roofing
- Slow Sloped Roofing
On the basis of material, Commercial Roofing Materials market is segmented into:
- Single-ply products
- Modified bitumen materials
- Spray polyurethane foam (SPF)
- Built-up roofing (BUR)
- Metal
- Others
Commercial Roofing Materials Market: Regional Outlook
Geographically, Commercial Roofing Materials market is segmented into North America, Latin America, Europe, Middle East Africa, Asia Pacific excluding Japan and Japan. North America held a noteworthy market share in the global commercial roofing materials market due to increasing investment by private companies and government bodies in infrastructure expansion. In terms of market attractiveness, Asia Pacific excluding Japan is estimated to have sizable demand of the market over the projected period owing to re-roofing activities. Western Europe and Eastern Europe has similar potential in the growth of the market. In Middle East Africa and Latin America, the commercial roofing materials market is in the nascent phase and it is expected to grow moderately over the forecasted period.
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Commercial Roofing Materials Market: Key Players
Some of the prominent players in the Commercial Roofing Materials market are:
- GAF
- Duro-Last Inc.
- IKO Industries Ltd.
- TAMKO Building Products, Inc.
- Atlas Roofing Corporation
- CertainTeed Corporation
- Carlisle Companies Incorporated
- Owens Corning Corporation
- Jhons Manville Corporation
- Firestone Building Product Corporation
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Submitted by:Vikas Bahurupi