An extensive examination of the roofing market is included in a new market research report that We Markets has added to its collection. With reference to historical growth data and the current state of the roofing industry, the report aims to provide useful information on projected global market growth. The verified information in the report is derived from in-depth primary and secondary research. Data-driven insights are great instruments for enabling a deeper comprehension of the various facets of the global roofing market. This aids the user’s developmental strategy even more.
Roofing Market is projected to achieve a value of USD 197.6 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 342.8 Billion by 2033 with a CAGR of 5.0% during the forecast period 2023-2033.
Roofing is the construction or installation of a protective covering for buildings, structures, or residential homes to shield them from the elements, primarily rain, snow, and sunlight. Roofing serves as the outermost layer of a building’s envelope and plays a critical role in maintaining the structural integrity of the structure and ensuring the comfort and safety of its occupants.
This study looks at every major aspect influencing the growth of the global roofing market, such as value chain analysis, pricing structure, profit margins, production, and demand-supply scenarios. A regional analysis of the global roofing market reveals a wealth of unrealized potential in both local and regional markets. Users can assess company shares analysis, new product lines, the potential for NPD in new markets, pricing strategies, innovation opportunities, and much more with the help of detailed company profiling.
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Roofing Competitive Analysis
Some of the major Key Players are BASF SE, Atlas Roofing Corporation, GAF, Owens Corning, and Carlisle Companies Inc. are top five companies together account for about 20% of the global roofing market share. The remaining market share is divided among a large number of smaller companies.
The roofing market is a highly competitive landscape, with numerous players vying for market share. The industry is characterized by a mix of large multinational corporations and smaller regional players, each striving to differentiate themselves through product innovation, competitive pricing, and strong brand recognition.
Market Regional Analysis
The roofing market is segmented by region into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region holds the largest share of the roofing market, followed by North America and Europe.
Asia-Pacific is the largest roofing market, accounting for over one-third of the global market share. This is due to the region’s rapid urbanization and infrastructure development, particularly in China, India, and Southeast Asia.
North America is the second-largest roofing market, driven by a strong residential construction market in the United States and Canada.
Europe is a mature roofing market, with a focus on energy-efficient and sustainable roofing solutions.
LAMEA is the smallest roofing market, but it is expected to grow at a faster pace than the other regions due to urbanization and infrastructure development in Latin America, the Middle East, and Africa.
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The roofing market is segmented into two main categories: materials and chemicals. The materials segment accounts for the majority of the market share, with a share of approximately 85%. Roofing materials refer to the physical substances used to construct the outer layer of a roof.
Different types of roofing materials include asphalt shingles, metal roofing, tile roofing, wood shakes, and more. The chemicals segment accounts for the remaining 15% of the market share. Roofing chemicals encompass a wide range of products used in roofing applications, including adhesives, sealants, coatings, and insulation materials.
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