Steep Slope Roofing Materials Market: Overview
- Steep slope roofs have an inclined roof line and are generally used in residential structures. Different cool roofing techniques are used for steep slope roofs due to their varying structures and materials. Application of coatings over existing shingles can prevent them from drying and causing water damage. Steep slope roofs enhance the esthetic appearance of a building, possess long service life, resist the elements of nature, and are easy to maintain.
Is something restraining your company’s growth in the Steep Slope Roofing Materials Market? Ask for the report brochure here
Asphalt Shingle Segment Dominates Steep Slope Roofing Materials Market
- Asphalt shingles are composed of asphalt mats made from organic felts or fiberglass. Their Solar Reflectance Index (SRI) is relatively low; white shingles are just about 30% reflective.
- Asphalt shingles are widely employed in the residential sector, as they are cost-effective and simple to install. Metal is a highly popular roofing material and possesses solar reflectance of more than 70%, thus allowing buildings to remain much cooler.
- Metal roofing also helps lower the energy costs of buildings. Metal is also extremely durable and weather-resistant, lightweight, and 100% recyclable.
Key Drivers of Steep Slope Roofing Materials Market
- Significant expansion in the construction sector in developing countries and technological advancements have boosted the adoption of quality steep slope roofing systems
- The construction industry in Asia Pacific and the Middle East has expanded at a rapid pace. This trend is expected to continue in the near future. Renowned construction firms are expanding their businesses in developing countries.
- Concerns regarding the harmful effects of asbestos have been increasing in the last few years. Rise in disposable income and an increase in the overall economic activities have fueled the construction industry. This is boosting the steep slope roofing materials market.
- Rise in construction activities is anticipated to lead to rapid expansion of residential and non-residential sectors in the near future. This is estimated to augment the steep slope roofing materials market.
- The commercial renovation industry has been expanding at a steady pace. It is projected to expand at a moderate pace in the next few years, as more buildings would age and require renovation, maintenance, repair, and remodeling. The rate is expected to increase in the near future, owing to changes in consumer lifestyle, leading to high number of remodeling activities.
Volatility of Raw Materials Likely to Hamper Market
- Economic slowdown in some regions has adversely affected the construction industry, thereby negatively impacting the demand for steep slope roofing materials
North America Expected to Hold Large Share of Global Steep Slope Roofing Materials Market
North America is a major region of the global steep slope roofing materials market. Steep slope roofing materials are generally utilized for residential roofing, as roofs of most single family homes in the U.S. are sloped.
- The construction sector in the U.S. is estimated to expand at a faster pace compared to that in China during the forecast period. Rise in construction is projected to be prominent in the southern states of the country. Thus, increase in construction is expected to drive the steep slope roofing materials market in the region.
- The building remodeling industry is a major end-user of steep slope roofing materials. Increase in remodeling activities in mature economies in North America and Europe is driving the demand for steep slope roofing materials in these regions.
- The market in Asia Pacific is anticipated to expand at rapid pace during the forecast period, owing to the vast potential of the construction industry in the region. Increased emphasis on esthetic appearance among home owners in Europe is likely to drive the steep slope roofing material market in the region.
- India fuels the global construction sector. The construction sector in the country is anticipated to expand almost twice as fast as that in China in the near future. The urban population in India is projected to increase. Rapid demand in construction rates in India will expand the market during the forecast period. This rapid growth of the construction is likely to boost the steep slope roofing material market in the region.
- Governments of countries in Middle East & Africa are focused on providing affordable housing. This is anticipated to boost the construction industry in the region, thereby propelling the steep slope roofing materials market in Middle East & Africa.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Steep Slope Roofing Materials Market here
Key Players in Steep Slope Roofing Materials Market
The global steep slope roofing materials market is highly fragmented, with the top manufacturers accounting for approximately 45% to 50% share of the global market. Key players operating in the steep slope roofing materials market include:
- Nagao & Co., Ltd.
- Owens Corning
- Henry Company
- Henry Company
- IKO Industries Ltd.
Global Steep Slope Roofing Materials Market: Research Scope
Global Steep Slope Roofing Materials Market, by Material
- Asphalt Shingle
Global Steep Slope Roofing Materials Market, by Form
- Heavy Weight Laminates
Global Steep Slope Roofing Materials Market, by Application
- New Construction
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.