Commercial Roofing Materials Market to Reach US$10.38 bn by 2024 | Page 3

Commercial Roofing Materials Market
across the world took off on a massive scale . A lot of the overall demand for commercial roofing materials is projected to continue coming from Asia Pacific , one of the leading regions when it comes to growth in demand for modern construction projects ,” States a TMR analyst .
Other factors augmenting the global commercial roofing materials market at the moment include the growing use of roofing systems that incorporate singly-ply products due to their higher flexibility , ease of installation , and competitive pricing . Another driver for the market is the growing rate of restoration and renovation activities in developed economies where commercial roofing materials are found to be of great value .
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Installation Costs High Enough to Hamper Overall Growth Rate
One of the key restraints currently acting on the global commercial roofing materials market is the high cost of installation of these roofs . Commercial roofing today incorporates several additions such as cool roofing and solar panel roofing to meet consumer demands . This , however , is leading to an inflation of prices of installing these roof types due to the high cost of the raw materials involved . Solar roofing is known to be highly expensive and commonly seen only in developed economies for the same reason . Thus price is currently a very restrictive concern for players in the global commercial roofing materials market .
“ Despite pricing concerns , the global commercial roofing materials market is expected to progress at a very fast rate over the coming years , in terms of product developments . Advancements in technology can make manufacturing of commercial roofing a lot cheaper and help players gain a greater regional penetration . They can also allow players to derive successful product innovations that can help reduce costs and enhance scope of utility ,” adds the analyst .
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Transparency Market Research
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