Global Roofing Underlying Materials Market: Snapshot
After the rough development period because of the economic meltdown of 2008 that was experienced by the developed economies all across the world, the need for a wide range of materials for roofing underlying has gained positive traction. The global roofing underlying market is on the brink of a major transformation as the developing nations are occupying key positions in the market. The boom in construction industry and consistent rise in new construction projects in the developing regions are also expected to play a significant role in the development of the global roofing underlying materials market. On the other hand, the market growth in the established economies is projected to be stimulated by increasing activities of refurbishing and maintenance.
The global roofing underlying materials market stood at the overall valuation of US$27.99 bn in the year 2015. Over the course of the mentioned forecast period of 2016 to 2024 the global market for roofing underlying materials is estimated to reach an overall valuation of US$45.16 bn. This growth in the market is expected to be achieved at a stable CAGR of 5.5% during the aforementioned forecast period of 2017 to 2025.
Applications in Non-Residential Segment to Remain Vital Contributor for Global Roofing Underlying Materials Market
The non-residential segment is currently the biggest contributor to the global market for roofing underlying materials. The non-residential segment accounted for a market share of almost 44% in the international market in the year 2015. However, it is projected that the sector will see a decline in its attractiveness to the residential segment and may record a slight cut down in the overall market share over the course of the forecast period of 2016 to 2024. Increasing demand for a wide range of roofing underlying materials in the commercial segment is expected to be chiefly driven by a constant rise in maintenance and replacement activities in the aftermath of recent economic turmoil. Economies that are gaining stability are now enabling the commercial segment to pick up the formerly discarded replacement projects.
On the other side, the huge growth in the residential construction projects, especially in the emerging economies like India, China, Indonesia, Costa Rica, and Malaysia, mainly because of rapid urbanization and strengthening of economy has propelled the requirement for a wide range of roofing materials in the last few years. In the coming years, the booming sector of residential construction is expected to be the chief contributor in the development of the global roofing underlying materials market. The revenue generation of the residential segment to the global market is estimated to expand at a CAGR of 6.0% over the aforementioned forecast period of 2016 to 2024. The volume-wise need in the residential segment for roofing underlying materials is estimated to grow at CAGR of 4.6% over the mentioned forecast period.
Emerging Economies in Asia Pacific to Keep Motivating Market Growth
Asia Pacific was the most dominating geographical region in the global market for roofing underlying materials in the year 2015. This was mainly because of rapidly developing construction sector and ever increasing number of fresh homeowners in the urban areas of the region. The Asia Pacific roofing underlying materials market is also projected to grow at the fastest speed when compared to the markets in other regions. The market in Asia Pacific is estimated to show a CAGR of 4.8% during the course of the forecast period of 2016 to 2024. China is expected to continue its dominance in the regional market of Asia Pacific over the complete forecast period and is estimated to account for almost 58% of overall market share in the region by the fall of 2024.
Other regional markets such as the Middle East and Africa and Latin America are also expected to show a healthy growth and will benefit from overall developments in the residential construction segment.
Some of the prominent players in the global hyperconverged integrated market includes names such as Atlas Roofing Corporation, DuPont, Firestone Building Group Services S.A., Duro-Last Roofing Inc., GAF Materials Corporation, CertainTeed Corporation, Owens Corning, Carlisle, IKO Industries Ltd., and TAMKO Building Products Inc.
This report analyzes and forecasts the market for roofing underlying materials at the global and regional level. The market has been forecast based on volume (million square meter) and revenue (US$ Mn) from 2016 to 2024. The study includes drivers and restraints of the global roofing underlying materials market. It also covers the impact of these drivers and restraints on demand for roofing underlying materials during the forecast period. The report also highlights the opportunities in the roofing underlying materials market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global roofing underlying materials market. Porter’s Five Forces model for the roofing underlying materials market has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global roofing underlying materials market by segmenting it in terms of products and applications. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for roofing underlying materials in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual product and application segments in all the regions.
The study includes profiles of major companies operating in the global roofing underlying materials market. Key players profiled in the report include Atlas Roofing Corporation, Duro-Last Roofing, Inc., CertainTeed Corporation, Braas Monier Building Group Services S.A., GAF, IKO Industries Ltd., DuPont, Owens Corning, Firestone Building Products Company, TAMKO Building Products, Inc., and Carlisle. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of roofing underlying materials for 2015 and forecast for the next nine years. The global market size of roofing underlying materials has been provided in terms of volume and revenue. Market numbers have been estimated based on key product segments and application segments of roofing underlying materials. Market size and forecast for each major product and application have been provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, EPDM Roofing Association (ERA), International Green Roofing Association (IGRA), internal and external proprietary databases, and relevant patent and regulatory databases such as Asphalt Roofing Manufactures Association (ARMA), American Society for Testing and Materials (ASTM), Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the global roofing underlying materials market as:
Roofing Underlying Materials Market: Product Segment Analysis
- Asphalt-saturated Felt
- Rubberized Asphalt
- Non-bitumen Synthetic
Roofing Underlying Materials Market: Application Segment Analysis
Roofing Underlying Materials Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA