The market for roofing systems is projected to grow from USD 109.72 Billion in 2016 to USD 157.56 Billion by 2021, at an estimated CAGR of 3.06%.
Browse 216 market data Tables and 57 Figures
spread through 201 Pages and in-depth TOC on "Roofing Systems Market by Material
(Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates,
Tiles), Construction Type (New Construction & Reform Construction), End-Use
Sector (Residential & Non-Residential) - Global Forecast to 2021"
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The global market for roofing systems is dominated
by large players such as Compagnie de Saint Gobain SA (France), Etex Group NV
(Belgium), Boral Limited (Australia), Braas Monier Building Group SA
(Luxembourg), Owens Corning (U.S.), and Carlisle Companies Incorporated (U.S.).
Other players in this market include CSR Limited (Australia), The Siam Cement
Public Company Limited (Thailand), Berkshire Hathaway, Inc. (U.S.), and Atlas
Roofing Corporation (U.S.). These players have adopted various strategies to
expand their global presence and increase their market share. Acquisitions,
collaborations/agreements/joint ventures, new product developments, and
expansions & divestitures are some of the major strategies adopted by the
market players to achieve growth in the market.
The growth of the roofing systems market was
largely influenced by mergers & acquisitions in the past five years. Other
developments such as new product developments and expansions & agreements
were also made by the top players in the market during this period. Companies
such as Compagnie de Saint Gobain SA (France), Braas Monier Building Group SA
(Luxembourg), and Owens Corning (U.S.) adopted this strategy to increase their
geographical reach and expand their product portfolios. The roofing systems
market also witnessed several new expansions between 2012 and 2016.
CertainTeed (U.S.), a subsidiary of Compagnie de
Saint Gobain SA acquired Matterhorn Metal Roofing brand from Quality Edge, Inc.
(U.S.). This acquisition helped CertainTeed expand its product portfolio in the
U.S. It also expanded the distribution of its NorthGate SBS-Modified asphalt roofing
shingle product line in additional 14 North American states including North
Dakota, South Dakota, Kansas, Missouri, and Iowa. This expansion was carried
out due to an increase in demand in these states.
Owens Corning (U.S.) acquired InterWrap Roofing
Products (Canada), a manufacturer of roofing underlayment and packaging
materials, for USD 450 Million. The acquisition was aimed at strengthening
Owens Corning’s capabilities and accelerating the growth in the roofing
components market.
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Residential sector to gain maximum traction during
the forecast period
The residential sector is projected to be the
fastest-growing segment by 2021. The non-residential sector comprises
industrial, commercial, and other applications. New construction and remodeling
are expected to increase the demand for roofing systems.
The shingles & plates segment contributes
maximum market share to the roofing systems market
Shingles & plates held the largest market share
because of their low cost and easy installation techniques. They are the most
preferred roofing products for residential buildings, as they are durable and
can last for up to 30 to 40 years. Also, growing construction projects, both
residential and commercial, have driven the market in this segment. Other
roofing products include tiles, sheets, and shakes.
Asia-Pacific to play a key role in the market for
roofing systems
On the basis of key regions, the market for roofing
systems is segmented into North America, Europe, Asia-Pacific, and RoW. The
Asia-Pacific region is the most attractive market for roofing systems. Rising
economy and rapid growth in the infrastructure sector in this region have
significantly impacted the growth of roofing systems. This region is projected
to see the highest number of new constructions and infrastructural activities
in the near future.
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