Roofing materials are used as an extended roof of any infrastructure, which is supported by a building structure. Global roofing materials market growth is mainly driven by growing demand for roofing materials from commercial, residential, and non-residential sectors in developing and developed countries. In addition, continuous repairing and remodeling work activities in developed countries are also expected to propel growth of the global roofing materials market.
The global roofing materials market report has been segmented on the basis of product type, application, and region.
On the basis of product type, the global roofing materials market has been segmented into tile roof, metal roof, plastic roof, and asphalt shingle. The tile roof segment is projected to account for highest market share in terms of revenue during the forecast period. This can be attributed to properties such as ability to perform well during harsh weather than other products.
Among all the product segments, residential, commercial, and non-residential, the residential segment is projected to grow at fastest CAGR during next five years. The non-residential segment is expected to hold highest share in the global roofing materials market, owing to increasing adoption of roofing materials in various non-residential constructions, such as power plants, warehouses, transport infrastructures, and others as roofing can avoid harmful effects of snow, rain, heat, and moisture, which could damage equipment’s or production processes in particular installation.
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On the basis of region, the global roofing materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific market accounted for major market share in terms of revenue to the global market in 2016. Asia Pacific roofing materials market is projected to witness major growth over next seven years, owing to increasing construction of new commercial and residential constructions in countries in this region.
Key players operating in the global market include Atlas Roofing Corporation, BASF SE, 3M Company, The DOW Chemical Company, Duro-Last Roofing Inc., Sika AG, Owens Corning Corporation, Braas Monier Building Group, GAF Materials, and Johns Manville Corporation.