Roofing Market is Estimated to Expand at a CAGR of 4.9% during the Forecast Period, TMR Report

The latest research study released by Transparency Market Research on “Roofing Market Forecast to 2021-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Roofing industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Roofing market is estimated to attain a valuation of US$ 322 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.9% during the forecast period, 2021-2031

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The increasing demand for roofing in the building & construction industry is driving the global market. There is a significant presence of manufacturers operating in the global market. These players are increasing their investment in terms of capital and emphasizing more on R&D activities, along with improved product quality to meet consumer requirements. There is a healthy growth in the roofing market due to expanding residential, commercial, and non-commercial construction projects across the globe. However, high cost of roofing materials is a major factor hampering the expansion of the global market. Companies in this market should accelerate their product development to obtain competitive benefits. Market stakeholders are extending their services arms to gain competitive edge.

Roofing Market: Overview

• Roofing materials are a vital necessity in construction, as they comprise the primary barrier against natural elements such as rain. The growth of the construction industry in recent years has thus been vital for the global market.
• The roofing market has benefited from the diversity of construction activities across the world, as it has led to steady investment and consolidation of lucrative revenue avenues
• The global market is likely to exhibit consistent growth in the next few years, owing to the continued construction industry boom in developing regions
• According to Transparency Market Research’s latest research report on the roofing market for the forecast period of 2021 to 2031, the rise in the usage of roofing in the construction industry is a key factor that is expected to boost the global market during the forecast period

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Expansion of Construction Industry: Key Driver of Roofing Market

• The increase in urbanization and the rise in the disposable income of consumers have contributed to the growth in construction activities. This is boosting the global roofing market.
• The steady growth of the construction industry in developing regions and sustained demand for revenue-generating operations from the construction industry in developed economies are the essential drivers of the global market
• Urbanization initiatives have picked up steam in several growing economies. This has driven the demand for the global market, which is a key part of the construction industry.
• Steady emigration from rural regions in underdeveloped regions is likely to lead to the formation of growing urban centers in several countries. This high volume of emigration is likely to ensure steady demand for new housing, leading to steady demand for roofing.
• An increase in the construction of large infrastructure projects and commercial projects, where the roofing is required, is also driving the global market
• Thus, the expansion of residential as well as commercial construction is boosting the global market

Leading Companies:

Atlas Roofing Corporation,Duro-Last Roofing, Inc,CertainTeed Corporation,Braas Monier Building Group Services S.A,GAF,Johns Manville,IKO Industries Ltd.,Owens Corning,Firestone Building Products Company,TAMKO Building Products, Inc.,Carlisle

Market Segmentation –

• Product
  • Bituminous Roofing
  • Metal Roofing
  • Tile Roofing

• Application
  • Residential
  • Commercial
  • Non-commercial

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This Report lets you identify the opportunities in Roofing Market by means of a region:

• North America (the United States, Canada, and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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