The Roofing Systems Market is expected to reach USD 157.23 Billion by 2028, growing at a CAGR of 3.1% from 2022 to 2028. Factors such as rising construction & infrastructure-related activities and the growing purchasing power of middle-class people are propelling the high demand of Roofing Systems Market in the coming years.
- Asphalt material holds the major share in the Roofing Systems Market during the projected years. The roofing systems is basically made by using asphalt material due to the low-cost material and easy availability. Therefore, it increases the segmental growth of the Roofing Systems Market.
- The shingles & tiles segment is accounted for the significant growth of the Roofing Systems Market over the projected period. This owing to its low cost and easy installation techniques. These are the most preferred roofing products for residential because of their durability.
- Asia Pacific is expected to witness the highest growth of the Roofing Systems Market during the forecast period. This is because increasing industrialization activities led to the huge demand for roofing systems in this region.
Major players involved in the growth of Roofing Systems Market are - Etex Group NV (Belgium), Compagnie de Saint Gobain SA (France), Boral Limited (Australia), Owens Corning (U.S.), Braas Monier Building Group SA (Luxembourg), Carlisle Companies Incorporated (U.S.), CSR Limited (Australia), Berkshire Hathaway, Inc. (U.S.), The Siam Cement Public Company Limited (Thailand), and Atlas Roofing Corporation (U.S.).
Technological advancement such as eco-friendly roofing materials, green roofing, and drones for roof inspections is increasing rapidly to provide a quality result. This in turn increases the demand for Roofing Systems Market in the coming years. On the other side, the initial investment cost to install the roofing systems is high, which is hampering the growth of the Roofing Systems Market. Whereas, increasing non-residential projects such as schools, hotels, hospitals, and industrial buildings will provide lots of growth opportunities for the Roofing Systems Market in the near future.
To provide long-term performance even in the harshest weather conditions, many companies in the roofing market have started manufacturing efficient roofing systems. For example, Standard Industries has launched a roof-integrated solar product, Solaria panels, which are 16% more powerful than the standard solar integrated roofs and allow homeowners to fit more roof-integrated solar capacity in a similar amount of space. Whereas, Johns Manville has launched a wide range of high-performance commercial roofing products, which have the lowest fastening rates in the market for an HD police cover board for which up to 50% fewer fasteners are needed to achieve FM I-90.