Unprecedented expansion of residential, commercial,
and industrial sectors continues to drive demand for roofing worldwide.
Although residential roofing applications have been predominant in pushing
sales of roofing systems and materials globally, it is the non-residential
sector, including office spaces, and commercial buildings, that is being
projected as the prominent booster to the growth of the roofing
market in the foreseeable future. Rampant progress of the
civil infrastructural developments, public transit, healthcare infrastructure,
and institutional spaces account for massive demand growth. This is even
expected to be the key factor responsible for the non-residential sector
outperforming the residential sector in terms of roofing system installations.
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Longevity, and Versatility of Applications Dictate Roofing
Material Preferences
The global roofing installation surpassed the volume
of 11 billion sqm in 2018 owing to a broad range of roofing applications. While
clay, metal, asphalt shingles, fibre cement, concrete tiles, slate, rubber, and
plastic have conventionally been the popular roofing materials, a new upcoming
study of Fairfield Market Research suggests that concrete tiles, and clay are
witnessing greater preference over other roofing material counterparts on the
back of their superior aesthetics, and endurance in addition to the benefit
that they typically require low maintenance costs. Asphalt shingles also have
been extensively used by the building and construction industry owing to their versatility
of application, cost competitiveness, and elegant aesthetics. With a number of new
construction projects, as well as building or residential renovation activities
in progress, asphalt shingles, metals, and tiles will see continued adoption in
the global roofing market, states the report.
Opportunities Abound in Developing Economies
The demand patterns in the roofing market vary from
region to region, and at a domestic level as well. Community preferences,
climatic conditions, material and aesthetic preferences, range of
affordability, and popular methods of construction are some of the key factors
governing the choice of roofing materials in any domestic, or regional market. North
America, particularly the US, continues to show preference for asphalt
shingles, research indicates that dimensional asphalt shingles are gaining
strong ground in the region. On the other hand, Asia Pacific, the global leader
in roofing installations, prefers metal roofing over other materials. Shifting
aesthetic tastes of the evolving regional population is giving rise to innovative
material launches in the market. The Middle Eastern and African economies also
present lucrative opportunities for companies in the roofing market, as per the
report findings so far.
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Environmentally-sustainable Roofing Systems Picking up as a Key
Trend among Manufacturing Companies
With the growing
realisation of the significance of eco-friendly roofing systems. While this
would enable companies to comply with evolving industry demands, they would
also be able to achieve an edge in terms of product differentiation. Cost
competitiveness will be an additional imperative for market leaders. Recognised
green building rating systems and certifications such as the German Sustainable
Building Council (DGNB), Building Research Establishment Environmental
Assessment Method (BREEAM), and Leadership in Energy and Environmental Design
(LEED), have been stimulating the launches of innovative roofing materials and
green roofing solutions in the market to attain desired functionality with
respect to energy efficiency. Some of the most prominent players actively
participating in the global roofing market include Saint-Gobain, Atlas Roofing
Corporation, Brass Monier Building Group, Owens Corning, Beacon Roofing Supply,
Inc., Etex, Wienerberger AG, Carlisle, and Duro-Last, Inc.
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