Roofing Market
Bituminous Roofing to Emerge as Leading Product Segment In 2015, with a share of 45 %, bituminous roofing emerged as the leading segment in terms of product in the global roofing market. It is commonly known as asphalt roofing and is widely employed in developed countries such as Canada and the U. S. Bituminous roofing is easy to install and is relatively feasible. It can last for a period of 20 years to 40 years and is also available in several different textures and colors. The segment of bituminous roofing is also projected to exhibit strong growth over the coming years with a CAGR of over 4 %. The growth of this segment is highly attributed to the growing construction industry and a significant rise in the construction of hospitals, institutions, and amusement parks owing to robust urbanization.
Asia Pacific to Provide Lucrative Growth Opportunities In 2015, Asia Pacific emerged as the leading region in the global roofing market. The growth of the market in this region is generally ascribed to the expanding construction industry due to an extensive rise in commercial, non-residential, and residential construction activities.
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Based on volume, Asia Pacific accounted for over 40 % of the overall share in the global roofing market in 2015. It has also been estimated to be the leading region in terms of growth rate as well during the forecast period. The growth of the region is also largely due to the building of hotels, office spaces, commercial buildings, educational institutions, and medical centers among others in Japan, India, and China. The market in the Middle East and Africa region is also expected to expand at a significant rate. As the Europe market is already mature, it is expected to witness steady yet average growth.
The leading companies in the global roofing market are Carlisle, TAMKO Building Products Inc., Firestone Building Products Company, Owens Corning, IKO Industries Ltd., Johns Manville, GAF, Braas Monier Building Group Services S. A., CertainTeed Corporation, Duro-Last Roofing, Inc., and Atlas Roofing Corporation.
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