Commercial Roofing Materials Market
Commercial Roofing Materials Market (Building Type - Low Sloped Roofing and Steep Sloped Roofing; Materials - Single-ply Products, Modified Bitumen Materials, Spray Polyurethane Foam (SPF), Built-up Roofing (BUR), and Metals) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Chemicals & Materials
- 133 Pages
Global Commercial Roofing Materials Market: Snapshot
The current rate of growth shown by the global commercial roofing materials market is primarily attributed to the high volume of activities in the global construction Industry. With both construction and restoration works in full swing across the world, the manufacturers of commercial roofing materials are finding a considerable scope of opportunities. The market is also being driven by the increasing use of single-ply roofing systems, which are flexible and cost-effective, along with the especially high rate of re-roofing activities in the developed economies of the world. However, the global commercial roofing materials market is being restricted strongly by the high installation costs and product lifespan variation, both problems that are leading to a greater reluctance and confusion among consumers in terms of choosing between the different types of commercial roofing.
In terms of revenue, the global commercial roofing materials market was valued at US$7.5 bn in 2015, and is expected to reach US$10.38 bn by 2024, after expanding at a CAGR of 3.6% within a forecast period from 2016 to 2024.
APAC to be in Limelight in Global Commercial Roofing Materials Market
Geographically, the global commercial roofing materials market can be segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. North America accounted for the dominant share in the global commercial roofing materials market followed by Asia Pacific and then Europe, for 2015. Asia Pacific is, however, currently leading the market in terms of its attractive index in terms of future growth. This region holds a heavy rate of growth in its construction industry as well as re-roofing activities, thereby garnering a large level of attention from several of the leading players in this market. Latin America is another potentially attractive region for manufacturers of commercial roofing materials for similar reasons. North America is a matured markets for commercial roofing materials market and so the growth rate is likely to be slower compared to the global average.
Low Sloped Roofing in High Demand across Multiple Regions
The global commercial roofing materials market has been segmented on the basis of building type, into low sloped roofing and step sloped roofing. Low sloped roofing accounted for the leading share in the global commercial roofing materials market for 2015 and it is expected to remain in the lead over the coming years. Based on the type of materials, the global commercial roofing materials market is segregated into single-ply products, modified bitumen materials, spray polyurethane foam, built-up roofing, metal and a collective segment comprising of minority commercial roofing materials used. Of these, the market was dominated by modified bitumen materials in 2015, on the basis of revenue generated, and single-ply products in terms of volume. Single-ply products are further identified as ethylene propylene diene monomer (EPDM), thermoplastic polyolefin (TPO), and polyvinyl chloride (PVC).
The lead in revenue generation achieved by low sloped roofing in the global commercial roofing materials market for 2015 can be attributed to an increase in re-roofing activities and a rise in the use of single-ply products.
Till 2015, some of the leading players in the global commercial roofing materials market included GAF, TAMKO Building Products, Inc., CertainTeed Corporation, Owens Corning Corporation, Firestone Building Products Company, Duro-Last Inc., Johns Manville Corporation, Carlisle Companies Incorporated, Atlas Roofing Corporation, and IKO Industries Ltd.
Green Roofing to Gather Massive Steam among Architects and Consumers in Commercial Roofing Materials Market
The global commercial roofing materials market has made continuous strides. New materials are being tested that cannot just improve longevity of the roofs but also become remarkable heat islands. Rise in expenditure on commercial construction of buildings, especially in developing and emerging economies, has helped in the commercialization of new array of materials over the past few decades. Rise in number of reroofing activities has also spurred the sales of products in the commercial roofing materials market. Some of the more common products in demand are built-up roofing membrane, metal roofing, modified bitumen roofing, thermoset roof membrane, thermoplastic roof membrane, and green roofing systems. Over the years, one of the category of roofing materials that has earned wide traction is metal roofs. These roofs gained popularity due to their high aesthetic value and some other desirable roof characteristics, such as being high on fire resistance ratings. Nevertheless, over the years, relentless efforts are being to explore more sustainable commercial roofing materials. In particular, green roofing has caught on substantial momentum across all stakeholders in the commercial roofing materials market. The need for reducing the temperature of road surface and the surrounding air has made green roofs as a potentially lucrative candidate in the market. In particular, urban commercial constructions are increasingly adopting green roofs.
The COVID-19 pandemic is still emerging in some parts of the world. When it struck in 2019 and was declared as pandemic in 2020, it caused repercussion not imagined before. The caseloads soared in several developing and developed regions of the world, forcing governments to impose prolonged lockdowns to avoid spread of the virus. Also, focus on preventing community spread of the novel coronavirus has caused various economic activities to halt. This affected the businesses and numerous industries, with the emergence of new business normals including in commercial roofing materials market. Thus, players are leaning on engaging in new partnerships and strategic frameworks to reduce the shocks.
Global Commercial Roofing Materials Market: Overview
The report covers the analysis and forecast of the commercial roofing materials market on a global and regional level. The study provides historic data of 2015 along with the forecast for the period between 2016 and 2024 based on revenue (US$ Mn) and Volume (Kilo Tons).
The study provides a detailed view of the commercial roofing materials market by segmenting it based on building type and materials type. On the basis of building type, the commercial roofing materials market has been further segmented into low sloped roofing and steep sloped roofing. The commercial roofing materials market has been segregated on the basis of materials type into single ply products, modified bitumen materials, spray polyurethane foam, built-up roofing, metals and others types of commercial roofing materials. Single ply roofing has been further segregated into ethylene propylene diene monomer, thermoplastic polyolefin and polyvinyl chloride.
Regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual product and applications in all regions.
The competitive profiling of the key players in the global commercial roofing materials market across five broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of commercial roofing materials.
Global Commercial Roofing Materials Market: Scope of the Study
A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the commercial roofing materials market on the global and regional level. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the commercial roofing materials market.
The report provides the size of the commercial roofing materials market in 2015 and the forecast for the next nine years up to 2024. The size of the global commercial roofing materials market is provided in terms of both volume and revenue. Market revenue and volume is defined in US$ Mn and Kilo Tons respectively. The market size and forecast for each product and application segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types products. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.
Global Commercial Roofing Materials Market: Research Methodologies
Market estimates for this study have been based revenue being derived through regional pricing trends. The price for commonly utilized quality of commercial roofing materials in each application and function has been considered. Demand for commercial roofing materials has been derived by analyzing the global and regional demand for commercial roofing materials in each application for its respective functions. The global commercial roofing materials market has been analyzed based on expected demand. Average selling price of commercial roofing materials products in the major countries has been taken into consideration to estimate regional and global revenue. Forecasts have been based on the expected demand from Commercial Roofing Materials applications. We have used the bottom-up approach to estimate the global revenue of commercial roofing materials market, split into regions. We have initially determined the volume and price in every region for the commercial roofing materials market. Revenue has been determined with the help of volume and price derived from every region. Based on building type and materials type, we have summed up the individual revenues from all the regions to achieve the global revenue for commercial roofing materials. The application split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of commercial roofing materials of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report are GAF, CertainTeed Corporation, TAMKO Building Products, Inc., Firestone Building Products Company, Owens Corning Corporation, Johns Manville Corporation, and IKO Industries Ltd. among others.
By Building Type
By Materials Type