Roofing Materials Market 2021-2027; Top 3 trends transforming industry outlook

The roofing materials market is expected to experience healthy growth in 2021-2027 as a result of rising demand for renovations and renovation projects and R&D financing for product development.

The roofing materials market is expected to show lucrative growth, led by rising demand for renovations and renovation projects and R&D financing for product development. According to a report by Global Market Insights, the size of the roofing industry is likely to exceed $159 billion by 2027.

The industry can be supported by rising disposable income and increasing demand for new housing projects worldwide. The emerging trend of green building projects, along with increasing environmental concerns, will be some of the major factors contributing to the adoption of sustainable roofing materials. Prominent manufacturers operating in the roofing industry include CertainTeed Corporation, Atlas Roofing Materials Corporation, Owens Corning, and others.

Trends emerging in the roofing industry:

Roof renovation is gaining momentum

The reroof construction is expected to be of interest in regions such as North America and Europe. Report claims that the renovation segment held about 48% volumetric stock in 2020. Both North America and Europe are made up of residential homes in need of renovation and refurbishment. Apart from this, an increasing number of storms and other adverse weather events are often observed in the region which is expected to increase the need for reroofing. Easy installation procedures, advances in products and affordability of products can drive the growth of the segment in the coming years.

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Growing concerns about energy consumption

Concerns about energy consumption in developed economies have accelerated the adoption of energy-efficient roofing solutions. The rising trend of green building projects in emerging economies such as Germany, US and other economies, along with the use of energy-efficient gravel in buildings, is expected to accelerate the demand for products. Increasing urbanization and increasing investment by emerging economies governments in the housing sector can present lucrative opportunities for roofing materials suppliers.

Presence of leading companies in North America

The US is one of the largest buyers of roofing materials worldwide. The roofing materials market in North America is showing significant growth, generating sales of more than USD 29 billion in 2020. The region is witnessing a need for renovation projects. It also consists in the presence of a wide range of companies specializing in roofing materials. In 2021, US LBM announced that two of the company’s operating divisions, Raymond Building Supply and Coastal Roofing Supply, in Florida, have merged to add roofing products to its North Fort Myers and North Port locations. Increasing construction of new buildings and growing indoctrination could replenish regional industry overtime.

About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, USA, is a global market research and advisory services provider, offering syndicated and customized research reports, along with growth advisory services. Our business intelligence and industry research reports provide clients with deep insights and actionable market data designed and presented specifically to support strategic decision-making. Designed through a proprietary research methodology, these comprehensive reports are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights Inc.
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/roofing-materials-market

Source URL: https://marketersmedia.com/roofing-materials-market-2021-2027-top-3-trends-transforming-industry-outlook/89040403

Source: MarketersMedia

Release ID: 89040403

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