Roofing Market
REPORT DESCRIPTION
Roofing Market( Product Segment- Bituminous Roofing, Metal Roofing, Tile Roofing; Application Segment- Residential, Commercial, Non-commercial)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
Roofing Materials are basically employed as construction materials. Various kinds of roofing materials are available in the global roofing market such as roof tiles, metals, and bituminous. These type of roofing products are manufactured through various different processes. Roofing products comprise the outermost layer of the structure or building. The outermost layer of the building roof exhibits high nonconformity in terms of property totally depending on the type and availability of the material supporting the structure. The raw materials that are used in the production of roofing materials to commercially available products to natural materials such as plastic sheeting, tiles, slates, and thatches among others. These roofing materials can be put over an underlayment, a secondary water-resistant material. These products are known for primarily providing shelter from several natural elements. The materials from which roofing materials are produced are clay, cement, metal, and bitumen. The applications of roofing materials include public outlets, educational institutes, hotels, offices, and buildings.
The primary driver of the global roofing market is the growing construction industry, mainly in developing countries. However, the growth of the market is likely to be inhibited by the high cost of production of roofing materials and skyrocketing costs of installation of roofing systems. The players can nevertheless expect opportunities from the in the technology in roofing materials such as photovoltaic roofing systems.
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The global roofing market is expected to register a 6.4 % CAGR from 2016 to 2024. The market was worth US $ 71.23 bn in 2015 and is likely to rise to a valuation of US $ 124.50 bn by the end of 2024.
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