The global Roofing Systems Market is estimated to be valued at US$ 133.67 Bn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Roofing systems provide protection from external elements such as rainfall, sunlight, wind and fire. It enhances energy efficiency and adds aesthetic value to buildings. There is increasing demand for systems with durability and eco-friendly properties.
Market key trends:
Sustainability is one of the key trends in the roofing systems market. With growing environmental concerns, there is rising focus on green building concepts and use of eco-friendly materials. Green roofs are gaining popularity as they provide various environmental benefits like reduced urban heat island effect, improved stormwater management and increased biodiversity. The plants used help insulate the building and reduce energy costs for heating and cooling. This has driven increased demand for vegetated roofing systems.
Segment Analysis
The global roofing systems market is segmented by material, type, and end use. Based on material, the market is segmented into bituminous, metal, tiles, and others. The bituminous segment dominates the market and accounts for over 30% share of the global market owing to its wide use in commercial and industrial construction. It provides effective waterproofing and is cost effective.
Key Takeaways
Global Roofing Systems Market Size is expected to witness high growth, exhibiting a CAGR of 3.0% over the forecast period, due to increasing construction activities worldwide.
The Asia Pacific region dominated the global market in 2021. Rapid urbanization and growth in residential and commercial construction are driving the roofing systems market in the region.
The Asia Pacific region is the fastest growing market for roofing systems and accounted for over 35% of the global market share in 2023 owing to high construction activities in China and India. The residential construction sector is a major driver of demand in the region.
Key players operating in the roofing systems market are Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. The global roofing systems market size was valued at US$ 133.67 Bn in 2023 and is projected to reach US$ 176.14 Bn by 2030.
Key players operating in the roofing systems market are focusing on expanding their product portfolios and geographical reach through mergers and acquisitions. For instance, in 2022, Owens Corning acquired Privato, a manufacturer of premium roofing accessories based in Germany, to expand its product offerings in Europe. Similarly, Johns Manville launched several premium roofing products catering to residential, commercial, and industrial segments. Strong focus on innovation and partnerships will help key players strengthen their market position in the coming years.
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The global Roofing Systems Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the roofing systems market include Etex Group NV, Owens Corning, Braas Monier Building Group SA, Henry, GAF, Versico, Classic, IB Roof Systems, Butler, Metal Roofing Systems, CentiMark, TSP Roof Systems, Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Roofing Systems Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/roofing-systems-market/download-sampleMarket DynamicsThe roofing system market is primarily dominated by rising infrastructure development.
The construction of a contemporary structure has a favorable effect on the roofing industry.A modern, appealing, and effective roof can improve the structure's overall design.
The fluctuating installation cost of roofing systems that varies according to the design and quality of the roofs is a substantial hindrance to the market growth.
More and more businesses are getting proactive about their roofing systems to ensure that they are protected from the increasing hazards of natural disasters.
That’s why you need to choose the best roofing company in Charlotte to work with.
The best roofing company should be able to handle all your needs, whether you need repairs or complete re-roofing.
