Roofing Systems Market worth 157.56 Billion USD by 2021
The market for roofing systems is projected to grow from USD 109.72 Billion in 2016 to USD 157.56 Billion by 2021, at an estimated CAGR of 3.06%.
Browse 216 market data Tables and 57 Figures spread through 201 Pages and in-depth TOC on "Roofing Systems Market by Material (Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates, Tiles), Construction Type (New Construction & Reform Construction), End-Use Sector (Residential & Non-Residential) - Global Forecast to 2021"
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The global market for roofing systems is dominated by large players such as Compagnie de Saint Gobain SA (France), Etex Group NV (Belgium), Boral Limited (Australia), Braas Monier Building Group SA (Luxembourg), Owens Corning (U.S.), and Carlisle Companies Incorporated (U.S.). Other players in this market include CSR Limited (Australia), The Siam Cement Public Company Limited (Thailand), Berkshire Hathaway, Inc. (U.S.), and Atlas Roofing Corporation (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Acquisitions, collaborations/agreements/joint ventures, new product developments, and expansions & divestitures are some of the major strategies adopted by the market players to achieve growth in the market.
The growth of the roofing systems market was largely influenced by mergers & acquisitions in the past five years. Other developments such as new product developments and expansions & agreements were also made by the top players in the market during this period. Companies such as Compagnie de Saint Gobain SA (France), Braas Monier Building Group SA (Luxembourg), and Owens Corning (U.S.) adopted this strategy to increase their geographical reach and expand their product portfolios. The roofing systems market also witnessed several new expansions between 2012 and 2016.
CertainTeed (U.S.), a subsidiary of Compagnie de Saint Gobain SA acquired Matterhorn Metal Roofing brand from Quality Edge, Inc. (U.S.). This acquisition helped CertainTeed expand its product portfolio in the U.S. It also expanded the distribution of its NorthGate SBS-Modified asphalt roofing shingle product line in additional 14 North American states including North Dakota, South Dakota, Kansas, Missouri, and Iowa. This expansion was carried out due to an increase in demand in these states.
Owens Corning (U.S.) acquired InterWrap Roofing Products (Canada), a manufacturer of roofing underlayment and packaging materials, for USD 450 Million. The acquisition was aimed at strengthening Owens Corning’s capabilities and accelerating the growth in the roofing components market.
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Residential sector to gain maximum traction during the forecast period
The residential sector is projected to be the fastest-growing segment by 2021. The non-residential sector comprises industrial, commercial, and other applications. New construction and remodeling are expected to increase the demand for roofing systems.
The shingles & plates segment contributes maximum market share to the roofing systems market
Shingles & plates held the largest market share because of their low cost and easy installation techniques. They are the most preferred roofing products for residential buildings, as they are durable and can last for up to 30 to 40 years. Also, growing construction projects, both residential and commercial, have driven the market in this segment. Other roofing products include tiles, sheets, and shakes.
Asia-Pacific to play a key role in the market for roofing systems
On the basis of key regions, the market for roofing systems is segmented into North America, Europe, Asia-Pacific, and RoW. The Asia-Pacific region is the most attractive market for roofing systems. Rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of roofing systems. This region is projected to see the highest number of new constructions and infrastructural activities in the near future.
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