Residential Roofing Market Size Forecast to Reach $11.8 Billion by 2025 · Wall Street Call

Roof top market is projected to reach $ 11.8 billion by 2025 after hitting a CAGR of 4.5% in 2020-2025. The growth of the global residential roofing market is mainly driven by the development of new, effective technologies for roofing materials, investment property, the increasing popularity of environmentally friendly hygiene products, the cultivation of rubber roofs, and the increasing renovation and renovation of buildings. Due to the increasing demand for hard coatings from various end-user applications, the roofing industry is expected to increase demand over the forecast period.

Market segment analysis for residential roofs – by roof type

Asphalt shingles are widely used in the residential roofing market. The expected increase in construction spending on residential buildings would fuel growth. In recent years, the demand for high-performance laminated asphalt shingles has risen sharply due to the growing interest in roofing materials that can withstand high winds, bumps, and weather degradation. New houses come in particular from single-family homes. Their strong profits would fuel the asphalt shingle market due to the low cost and ease of installation that builders choose for these products. The much larger segment of residential roofing would also have developments as homeowners repair older roofs that are worn out or beyond their intended lifespan.

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Market segment analysis for residential roofs – according to purpose

The housing industry had the largest share of the rooftop market in 2019. The roof is an important building structure as it provides protection and increases the attractiveness of the building. The factor driving demand for roofing materials for residential use is the increase in government and institutional funding for building residential infrastructure in emerging economies. Key factors driving the demand for roofing materials for residential buildings include the growing population and the growing preference for single-family homes. In addition, easy credit availability and low interest rates play an important role in overall demand for residential structures. In addition, the growing population would fuel the growth of residential units such as individual houses and apartments. Increasing investments by homeowners in environmentally friendly construction are also expected to have a positive effect on future demand for roofing materials.

Market segment analysis for residential roofs – by geography

The Asia-Pacific region had the largest share of the residential roofing market at 39.2%. The Asia-Pacific region is likely to see the highest growth in developing countries like China and China due to a rapid rise in construction, a surge in manufacturing, stricter government regulations to improve household energy efficiency, longer lifespan, ease of installation, and increased urbanization India in the region. Due to the large number of applications in the construction industry, new roofs have the largest market share in the global roof sector for residential buildings. The Indian government has set a target of 20 million flexible homes by 2022, which is expected to have a significant impact on the market. According to the International Trade Administration, the construction industry in China will grow by an annual average of 5 percent in real terms between 2019 and 2023. The Japanese government also reports that Japan is stepping up efforts to incorporate new building technologies into the construction sector by working with private companies.

Market drivers for residential roofs

Excellent refractory metal roofs will drive the market

Metal roofs are expected to grow rapidly as forest fire cases increase. Metal roofs offer excellent benefits for tough roofs, making them an important choice for recoding and standards. Metal roofs are available in copper, aluminum, stainless steel and zinc and come in two shapes: panels and shingles. Galvanized steel and aluminum are the most common low-cost metals. Metal roofs are a durable material that will last much longer than other materials. Metal roofs absorb the sun’s UV rays and keep the building cooler in the summer months. The metal roof provides the building with additional insulation that can withstand stable temperatures in both the winter and summer months. Sales of metal roofs in both industrial and residential renovations are increasing. Landowners and professional design architects have used metal roofing as one of the toughest decisions the roofing industry has to make. The metal roof weighs less than roofs or tiles made from bituminous shingles. It does not burden the structure of the building like other roofing materials due to its strength, durability and low maintenance.

Canopy activities to accommodate the vast majority of demand

Residential roofing activities have resulted in significant demand for asphalt shingles in recent years, as multiple incidents of extreme weather events have been observed in many areas of different regions. The residential roofing segment will continue to be the leading market for asphalt shingles in the future. The United States has a large number of older homes, many of which have older three-tab clapboards that do not meet new construction regulations. In certain cases, as a condition of maintaining coverage, insurers may require homeowners to replace older shingles with newer, more durable, laminated asphalt shingles prior to a contract renewal. The increasing demand for roofing will continue to drive the market for residential roofs in the forecast period.

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Challenges in the residential roofing market

Effects of roofing materials

Climatic conditions can affect the product quality. For example, some of the materials are unable to withstand extreme heat and ultraviolet radiation from sunlight, but are subject to slightly longer freeze-thaw cycles. Bitumen shingles can be damaged if they are installed at freezing temperatures. Since they are not of the highest quality, they are more prone to gusts of wind and can break quickly at different temperatures. The durability of the roofing materials and repair specifications should be considered. Like raw wood shaking and clapboard that require heavy maintenance. The manufacture of roofing products should take into account the natural resources, electricity and toxicity of any emissions generated. These are made from materials that are limited or environmentally sensitive.

Market roof landscape for residential buildings

Technology launches, acquisitions and R&D activities are key strategies used by players in the roofing market. Major players in the residential roofing market include GAF Materials Corporation, Atlas Roofing Corporation, Owens Corning, Braas Monier Building Group, Etex, Boral Ltd., TAMKO Building Products, Saint Gobain SA, Johns Manville, and Carlisle Companies Inc.

The central theses

The Asia-Pacific region dominated the residential roofing market due to the increased adoption of residential roofing for applications in newer industries and emerging economies such as China, India, and others.

The higher disposable income and improved affordability have led customers to spend more on renovation and improvement projects. The changing propensity of consumers to renovate homes and provide attractive residential structures also offered market sellers numerous opportunities.

The growing regulatory attention that energy efficiency requires in construction projects is another key driver of market trends.

The construction industry is expected to suffer a major slump due to the labor shortage and government shutdown during COVID-19, which is likely to be compounded by the resulting problems in the supply chain and funding difficulties due to non-compliance with completion times.

Related reports:

A. Roofing market

https://www.industryarc.com/Report/18234/roofing-market-research-report-analysis.html

B. Roofing Adhesives Market

https://www.industryarc.com/Report/16430/roofing-adhesives-market.html

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