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Global Commercial Roofing Materials Market Is Estimated To Reach $11 Billion By 2025
Global commercial roofing materials market report published by Accurize Market Research forecast that the global market is expected to reach $11 billion by 2025; growing at a CAGR of 3.5% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
An upsurge in demand for high-performance, lightweight, and inexpensive products across the globe to drive the growth of the market
Rise in disposable income fuels the demand for the global commercial roofing materials market. Moreover, growing urbanization and increasing commercialization also boost the growth of the market.
The global commercial roofing materials market has been bifurcated on the basis of building type and materials type. The segmentation by building type includes steep-sloped roofing and low sloped roofing. By materials type, the global commercial roofing materials market is further segmented into single-ply products, modified bitumen materials, spray polyurethane foam, built-up roofing, metals, and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers France, Germany, UK, Spain, Italy, and others. Asia-Pacific covers China, India, Japan, Australia, South Korea, and others. The rest of the World (RoW) covers South America, the Middle East, and Africa.
“low sloped roofing materials accounted for the largest market share in the building type segment", says Accurize
By building type, low sloped roofing accounted for more than two-thirds of the total market revenue in 2017. Steep sloped roofing is expected to grow at the fastest CAGR from 2017-2025, driven by the rising office, retail, and lodging construction spending.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
North America accounted for the largest market share of 45% in 2017; owing to the growing infrastructural developments and re-roofing activities in the region. Europe accounted for a market share of around 16%. In terms of growth, Asia-Pacific is to attain the fastest CAGR of 5.6% during the forecast period 2017-2025, owing to the expanding construction activities in emerging economies such as China and India.
Top players in the market
The key market players include GAF, CertainTeed Corporation, TAMKO Building Products Inc., Firestone Building Products Company, Owens Corning Corporation, Johns Manville Corporation, IKO Industries Ltd, Duro-Last Roofing Inc., Atlas Roofing Corporation, and BraasMonier Building Group, among others.
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