Utilization of Roofing Materials in Construction and Restoration Works Fueling Sales
Rise of commercial construction activities notably in developing countries and emerging economies is a key trend bolstering the sales prospects of commercial roofing materials. Over the past few decades, a wide range of materials have been introduced in the market and subsequently a number of them have been heavily commercialized. Market survey on commercial roofing materials finds that commercial roofing materials have been utilized in reroofing activities and renovation works especially in the developed world.
The commercial roofing materials market is projected to reach valuation of US$ 10.38 bn by the end of 2024.
Growing Popularity of Single-Ply Roofing Systems Propelling Growth
Worldwide, there has been popular use of single-ply roofing systems in low-roofed systems. Market analysis of commercial low sloped roofing materials has found that the trend has kept the market in good stead. Salient characteristics that make these materials preferable over several other conventional materials are the former’s remarkable strength, flexibility, and durability. Key materials used in this segment are ethylene propylene diene monomer (EPDM), polyvinyl chloride (PVC), and thermoplastic polyolefin (TPO).
The rise in sales of materials for single-ply roofing systems has been a prominent factor expanding the size of the commercial roofing materials market. Indeed, the popularity led single-ply products to account for the major market share in 2015.
Research report on commercial steep sloped roofing materials finds that the growing demand is likely to be a powerful factor for unearthing new revenue streams. Initially used for residential buildings, commercial property owners are also warming up to the benefits of these in commercial roofing materials
Asia Pacific Witnesses Substantial Market Demand in Reroofing Activities
Though North America held the major in the market in 2015, in recent years, the growth momentum of the regional market has largely slowed down. A number of products have reached their maturity stage for the regional market, hampering the rate of their uptake in commercial construction sector.
On the other hand, Asia Pacific has become an emerging market. The rise in construction activities due to rapid pace of urbanization in emerging economies is a key trend underpinning the growth prospects, as market insights on commercial roofing materials have observed in recent five years.
The high attractiveness quotient of the regional market is propelled by growing number of commercial activities.
Demand for Commercial Materials for Cool Roofs Emerging as Lucrative Avenue
Market survey on commercial roofing materials finds that businesses in materials production for roofing have in recent times found green roofing to be a compelling proposition. The demand for environmentally friendly roofing materials has opened a new avenue for some of the top players looking to gain a competitive edge over their peers.
In coming years, more companies in the commercial roofing materials market are keenly offering products to meet the proposition of cool roofs. Cool roofs have attracted building owners and roofing contractors as a way to reduce greenhouse emissions. This also has attracted attention of architects to reduce the carbon footprint of construction materials—which has gained profound attention across the commercial roofing materials market value chain. Cool roofs are viewed as an effective way to reduce the heat islands. In some countries, the demand for such materials has risen on the back of measures used by occupants to reduce energy for air conditioning.
Despite the promising prospects ahead, businesses have to lean on reducing the high installation costs in order to boost the uptake. Further, market insights on commercial roofing materials assert that product lifespan variation is one of the key challenges that have hampered the prospects. Hence, a number of players who hold sizable stakes are keen on overcoming this challenge.
Some of the key players in the commercial roofing materials are IKO Industries Ltd., Atlas Roofing Corporation, Carlisle Companies Incorporated, Johns Manville Corporation, Duro-Last Inc., Firestone Building Products Company, Owens Corning Corporation, CertainTeed Corporation, TAMKO Building Products, Inc., and GAF.
The global market for commercial roofing materials is segmented into:
By Building Type
- Low Sloped Roofing
- Steep Sloped Roofing
By Materials Type
- Single-Ply Products
- Modified Bitumen Materials
- Spray Polyurethane Foam (SPF)
- Built-Up Roofing (BUR)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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