High Global Construction Activities to Drive Commercial Roofing Materials Market, Estimated to Reach US$10.38 bn till 2024
Report provide an in-depth analysis of the commercial roofing materials market trends and also the industry growth rate in the coming years. study also provides a detailed view of the commercial roofing materials market by segmenting it based on building type and materials type .
Albany, New York, February 10, 2017: Today, with the excessive rise in construction goings-on, one of the best ways to improve the status of commercial buildings is to invest in quality roofing. By looking at this growth, a new report targeting the “Global Commercial Roofing Materials Market”, has been recently broadcasted to the vast report offerings section of Market Research Hub (MRH). This study analyzes the current and future growth rate for the market for the forecast period of 2016 to 2024. Moreover, global industry analysis has been analyzed by highlighting some of the prime regions which includes Europe, Asia-Pacific, North America, MEA and Latin America.
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According to the study, the current growth rate exposed by the global commercial roofing materials market is mainly credited to the high volume of activities in the global construction industry. With both construction and refurbishment works in full strike across the world, the manufacturers of commercial roofing materials are finding a substantial scope of opportunities. In terms of revenue, the market is probable to reach US$10.38 bn in 2024, along with a CAGR of 3.6% during the period 2016-2024.
Initially, the report provides a detailed snapshot of the market together with its applications and market segmentation. Commercial roofing is a building material which is used for protecting and sealing the top of a commercial structure. A building's roofing material provides shelter from almost all natural elements. The market is further segmented by the building type and materials type. On the basis of building type, it is categorized into low sloped roofing and steep sloped roofing. Unlike residential roofing that is steeply sloped, commercial roofing generally has a flat slope. On the other hand, the market has been segregated on the basis of material type, which includes:
- Single-Ply Products
- Built-Up Roofing (BUR)
- Modified Bitumen Materials
- Spray Polyurethane Foam (SPF)
- Metals and others.
The market is also being boosting by the cumulative use of single-ply roofing systems, which are flexible and cost-effective, along with the specifically high rate of re-roofing activities in the developed economies of the world. Furthermore, the report also studies that, the overall demand for commercial roofing materials is estimated to continue from Asia Pacific, one of the leading regions when it comes to progress in demand for modern construction. Whereas, the North America region held a high demand for all segments of roofing within the market.
Moreover, analysis of the market dynamics which includes market drivers, restraints and opportunities is comprised in the report. Currently, one of the key restraints for the global commercial roofing materials market is the high cost of installation of these roofs.
Moving further, leading players are also profiled including Firestone Building Products Company, GAF, CertainTeed Corporation, Johns Manville Corporation, Owens Corning Corporation, TAMKO Building Products, Inc. and IKO Industries Ltd.
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