roofing-market

 

Government support for residential construction projects, rise in construction industry, rapid urbanization, and innovations in technologydrive the growth of the global roofing market.

According to the report published by Allied Market Research, the global roofing market generated $102.4 billion in 2020, and is projected to reach $156.0 billion by 2030, witnessing a CAGR of 4.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Amar Chinchane, a Lead Analyst, Construction and Manufacturing at Allied Market Research, stated, “The roofing market has witnessed significant growth over the past decade, owing to the rise ininvestment in various end-user industries such as construction and infrastructure.A number of players have expanded their business around the globe due to increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the growth of the roofing market.”

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COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic gave way to huge disruptions in the production and manufacturing of roofing materials across the world, thereby impacting the global roofing market negatively.
  • However, as the situation is getting ameliorated, the market is anticipated to get back on track soon.

The report offers detailed segmentation of the global roofing market based onroofingtype, roofing material, application, and region.

Based on roofing material, the bituminous segment held the highest roofing market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is also projected to cite the fastest CAGR of 4.7% throughout the forecast period. 

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Based on roofing type, the flat roofsegment held the largest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 4.4% from 2021 to 2030.

Based on region, Asia-Pacificcontributed to the highest share in terms of revenue in 2020, holding more than two-fifthsof the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is also expected to cite the fastest CAGR of 4.6% throughout the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.