Roofing Underlying Materials Market 2016 Share, Trend, Segmentation and Forecast to 2024
The flourishing construction sector and a constant rise in new construction activities in these emerging economies are mostly to be ascribed for the excellent growth prospects for roofing underlying materials in the regions. In North America and Europe, on the other hand, demand is mostly stimulated by refurbishing and maintenance activities.
The flourishing construction sector and a constant rise in new construction activities in these emerging economies are mostly to be ascribed for the excellent growth prospects for roofing underlying materials in the regions. In North America and Europe, on the other hand, demand is mostly stimulated by refurbishing and maintenance activities.
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flourishing residential construction sec<strong>to</strong>r will prove <strong>to</strong> be a high-impact driver of<br />
the global roofing underlying materials market. The revenue contribution of the<br />
residential sec<strong>to</strong>r <strong>to</strong> the market will exp<strong>and</strong> at a 6.0% CAGR over the period<br />
between <strong>2016</strong> <strong>and</strong> <strong>2024</strong>. Volume-wise, dem<strong>and</strong> for roofing underlying materials in<br />
the residential sec<strong>to</strong>r will exp<strong>and</strong> at a 4.6% over the said period.<br />
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Emerging Economies <strong>to</strong> Remain Determinants of <strong>Market</strong>’s Developmental<br />
Prospects<br />
Asia Pacific held a dominant share of nearly 41% in the global roofing underlying<br />
materials market in 2015, mainly owing <strong>to</strong> the flourishing construction industry <strong>and</strong><br />
constantly rising numbers of new homeowners in urban parts of the region. The<br />
market for roofing underlying materials is also expected <strong>to</strong> exp<strong>and</strong> at the fastest<br />
pace in Asia Pacific as compared <strong>to</strong> other regional markets. The market is expected<br />
<strong>to</strong> exhibit a CAGR of 4.8% in the region over the period between <strong>2016</strong> <strong>and</strong> <strong>2024</strong>.<br />
China will continue <strong>to</strong> be the dominant country for the roofing underlying materials<br />
market in Asia Pacific throughout the said period <strong>and</strong> will account for a nearly 58%<br />
share in the regional market by <strong>2024</strong>.<br />
In regions such as Latin America <strong>and</strong> the Middle East <strong>and</strong> Africa, the markets for<br />
roofing underlying materials will exhibit healthy growth <strong>and</strong> will benefit the most<br />
from developments in the residential construction sec<strong>to</strong>r. In North America <strong>and</strong><br />
Europe, the mature market for roofing underlying materials is expected <strong>to</strong> exhibit<br />
average growth between 3.3-3.5% CAGR from <strong>2016</strong> <strong>to</strong> <strong>2024</strong>.<br />
The highly fragmented competitive l<strong>and</strong>scape of the global market for roofing<br />
underlying materials features a vast number of small-, medium-, <strong>and</strong> large-sized<br />
companies struggling <strong>to</strong> acquire a larger share in the overall pie. None of the<br />
leading companies accounted for more than a 5% share in the global market in<br />
2015. Some of the market’s notable players are DuPont, Duro-Last <strong>Roofing</strong>, Inc.,<br />
Fires<strong>to</strong>ne Building Products Company, Atlas <strong>Roofing</strong> Corporation, Braas Monier<br />
Building Group Services S.A., IKO Industries Ltd., TAMKO Building Products, Inc., GAF<br />
<strong>Materials</strong> Corporation, Owens Corning, CertainTeed Corporation, <strong>and</strong> Carlisle.<br />
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