Roofing Underlying Materials Market 2016 Share and Forecast Roofing Underlying Materials Market - Global Indus

Roofing Underlying Materials Market - Global
Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
Following a rough growth patch across developed economies post the recent
economic turmoil of 2008, the demand for a variety of roofing underlying materials
has again started gaining strength. However, the market is on the brisk of a huge
transformation as emerging economies such as Asia Pacific and Latin America are
commanding the most influential positions in the market.
The flourishing construction sector and a constant rise in new construction activities
in these emerging economies are mostly to be ascribed for the excellent growth
prospects for roofing underlying materials in the regions. In North America and
Europe, on the other hand, demand is mostly stimulated by refurbishing and
maintenance activities.
Transparency Market Research states that the global roofing underlying materials
market will expand at a healthy 5.5% CAGR over the period between 2016 and
2024. The market, which had a valuation of US$27.99 bn in 2015, is expected to
rise to US$45.16 bn by 2024 at this rate.
View Report @ http://www.transparencymarketresearch.com/roofing-
underlying-materials-market.html
Non-residential Applications to Continue Being Market’s Key Revenue
Contributors
The non-residential sector is presently the largest contributor to the global roofing
underlying materials market, accounting for a share of nearly 44% in the global
market in 2015. However, the segment is expected to lose its attractiveness to the
residential sector and report a slight decline in its overall share in the global market
in 2024. Demand for a variety of roofing underlying materials in the commercial
sector will be driven primarily by a sustained rise in replacement and maintenance
activities post the recent economic downturn. Stabilizing economies are enabling
the commercial sector to take up previously deferred replacement projects.
The vast rise in residential building projects, especially in developing countries such
as China, India, Costa Rica, Indonesia, and Malaysia, primarily owing to
strengthening economies and rapid urbanization has triggered the demand for a
variety of roofing materials in the past few years. In the next few years, the