Published on : Jun 29, 2016
The global roofing market is witnessing a significant surge, thanks to the rapid growth of the construction industry. The increasing rate of urbanization and the rise in the living standards of people across the world is boosting this market remarkably.
Asia Pacific to Maintain its Lead in Global Roofing Market
In 2015, Asia Pacific dominated the global roofing market with a share of more than 40% in terms of volume. The rapid rise in the construction industry, owing to the increase in commercial, residential, and non-residential construction activities, is the key factor that has driven this regional market in the recent past.
Analysts project the Asia Pacific roofing market to remain dominant and register the fastest growth among all the regional markets in the coming years. The rise in the disposable income of people in this region has triggered its urbanization, which is likely to boost demand for fancy roofs in Asia Pacific. Apart from this, the increasing number of medical centers, commercial buildings, hotels, educational institutions, and offices spaces in India, China, and Japan is also projected to propel the roofing market in this region significantly in the coming years.
Here is a snapshot of the performance of other regional markets over the next few years.
- The market for roofing in North America is anticipated to driven by the rapid growth in the urban population.
- The Middle East and Africa market is projected to be impelled by the infrastructural development in the tourism industry.
- The Europe roofing market, on the other hand, is likely to experience average growth due to its mature condition.
- The market in Latin America is projected to rise considerably in the near future.
Firestone Building Products Co., Owens Corning, CertainTeed Corp., GAF, Duro-Last Roofing Inc., IKO Industries Ltd., Atlas Roofing Corp., Carlisle, TAMKO Building Products Inc., Johns Manville, Braas Monier Building Group Services S.A are the leading enterprises operating in the global roofing market.