The global roofing materials market is all set to show stupendous graph of revenues during the forecast period of 2020 to 2030. One of the key reasons driving market growth is rapid urbanization and growing worldwide population. There are different types of roofing materials such as concrete and clay tiles, asphalt shingles, plastics, metal roofs, and others available in the market.
An upcoming research report from TMR on the global roofing materials market provides comprehensive study of key factors including drivers, restraints, opportunities, and challenges in this market. Apart from this, the report offers dependable data on volume, shares, revenues, and probable growth avenues in the market for roofing materials. Thus, the report works as a valuable guide of the roofing materials market for the forecast period of 2020 to 2030.
The global roofing materials market is segmented on the basis of various key factors such as product, application, and region. Based on application, the market for roofing materials is classified into residential and non-residential.
In recent period, the world is witnessing remarkable investments in redevelopment and renovation of residential as well as commercial buildings. As a result, there is tremendous growth in demand for roofing materials. Many government bodies in emerging economies are offering financial support for the development of housing infrastructure. Apart from this, the global roofing materials market is growing on the back of growing population in the world.
Rising per capita income of major worldwide population is working as a driver for the global roofing materials market. Many companies engaged in construction sector from all across the world are inclined toward the incorporation of advanced technologies. For instance, many enterprises are using drones to perform the survey the roofs. In addition to this, increasing use of 3D technology to produce diverse structural components of the roofing systems is expected to positively impact on the growth of the global roofing materials market.
The global roofing materials market is fairly fragmented in nature. Presence of many active players makes the competitive landscape of the market for roofing materials extremely intense. Vendors working in this market are focused on the development of durable as well as easy-to-install products. Apart from this, growing efforts of major players to offer cost-effective and superior quality products is expected to fuel the growth of the global roofing materials market in the forthcoming years. Some of the trending strategies among key vendors in the market for roofing material today are partnerships, mergers, acquisitions, and collaborations.
The list of key players in the global roofing materials market includes:
The global roofing materials market is spread across five key regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and Central & South America. Of them, Asia Pacific is one of the lucrative regions in the market for roofing materials. One of the key reasons boosting the growth of market for roofing materials is thriving construction sector in this region. Remarkable growth in new construction as well as renovation activities, growth in industrial operations, specifically in India and China, and growing population are some of the key drivers for the roofing materials market in Asia Pacific.