The global roofing market is driven by a surge in infrastructural activities. Increasing industrialization, urbanization, and population growth have propelled the demand for commercial and residential construction projects. Robust infrastructural development requires a variety of roofing solutions, from traditional to innovative, to meet diverse architectural and functional requirements. As a result, the roofing industry experiences heightened demand for its products and services, fostering market growth as it aligns with the expanding needs of the construction and real estate sectors worldwide.
According to Data Bridge Market Research the Global Roofing Market value, which was USD 108.03 billion in 2021, is expected to reach the value of USD 165.79 billion by 2029, at a CAGR of 5.50% during the forecast period of 2022 to 2029.
“Infrastructural events influenced the market growth”
The global roofing market is driven by a surge in infrastructural activities. Increasing industrialization, urbanization, and population growth have propelled the demand for commercial and residential construction projects. Robust infrastructural development requires a variety of roofing solutions, from traditional to innovative, to meet diverse architectural and functional requirements. As a result, the roofing industry experiences heightened demand for its products and services, fostering market growth as it aligns with the expanding needs of the construction and real estate sectors worldwide.
What restraints the growth of the global roofing market?
“High capital investment”
High capital investment poses a significant restraint on the global roofing market. The roofing industry demands substantial financial resources for materials, equipment, and skilled labor, hindering new entrants and limiting expansion for existing players. This constraint particularly affects small and medium-sized enterprises seeking to enter the market or upscale their operations. The need for substantial upfront investments can deter potential participants, potentially constraining market growth and innovation within the roofing sector on a global scale.
Segmentation: Global Roofing Market
The roofing market is segmented on the basis of type, application, and product.
- On the basis of type, the roofing market is segmented into materials, Chemicals.
- On the basis of application, the roofing market is segmented into residential, commercial, non-residential, and others.
- On the basis of product, the roofing market is segmented into asphalt shingles, concrete and clay tile roof, metal roofs, elastomers and plastic roofs, tile roofs, bituminous roof, and others.
Regional Insights: Asia-Pacific dominates the Global Roofing Market
Asia-Pacific's roofing market is poised for dominance from 2022 to 2029, driven by rapid industrialization, urbanization, and a growing population. These factors collectively contribute to heightened demand for both commercial and residential infrastructure. The surge in construction activities aligns with the region's development trajectory, making Asia-Pacific a focal point for roofing solutions. As urban centers expand and housing needs escalate, the roofing market is set to flourish, catering to the region's evolving architectural and structural requirements.
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The Prominent Key Players Operating in the Global Roofing Market Include:
- Owens Corning (U.S.)
- Duro-Last Roofing, Inc. (U.S.)
- BASF SE (Germany)
- 3M (U.S.)
- Dow (U.S.)
- DuPont (U.S.)
- Braas Monier Building Group (Luxembourg)
- Sika AG (Switzerland)
- Atlas Roofing Corporation (U.S.)
- Innospec (U.S.)
- ADEKA CORPORATION (Japan)
- Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)
- PMC Specialties Group (U.S.)
- Afton Chemical (U.S.)
- The Lubrizol Corporation (U.S.)
- Clariant (Switzerland)
- LANXESS (Germany)
- Mayzo, Inc. (U.S.)
- Solvay (Belgium)
- Akzo Nobel N.V. (Netherlands)
- Arkema (France)
- Eastman Chemical Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global roofing market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Roofing Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
