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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