The green building wave has caused several trends in the roofing industry to change in the last few years. The advent of energy-saving roofs or those made from sustainable materials, for one, has been a palpable trend. The impact of these trends will be directly felt on the global roofing market, which is on course to reporting positive growth on the next five years.
Construction of residential and commercial buildings has picked up pace in emerging countries in Asia Pacific, Latin America, and the Rest of the World. As roofing is a virtually inseparable part of any building, it is expected that market players will be met with several new growth opportunities in emerging nations. While the organic growth of the construction sector is one side of the roofing material market’s growth story, the occurrence of natural calamities necessitating rebuilding is another. To some degree, the demand for roofing will also be stimulated by the latter.
Browse the full Global Roofing Market report at http://www.mrrse.com/roofing-market
Environmental Regulations to Decide Direction of Roofing Market, Developed Economies at Forefront
Although developing economies still do not have clear mandates for the use of new-age materials, the scenario is quite different in developed economies. In the United States, for instance, the regulations developed by the Environmental Protection Agency (EPA) and the Department of Energy (DoE), have been guiding the roofing market. Most major players in this space are actively engaged in introducing innovative materials to meet the evolving demands of consumers and, in the bargain, gain an edge over other market participants.
With Safety of Conventional Roofing Materials Under Scanner, Newer Products Find More Scope
Previously, materials such as asbestos shingles were extensively used in the roofing industry because they were both easy to manufacture and low on the cost quotient. But with their negative effects on human health, their use has been curbed. This has, in the meanwhile, led to the emergence of newer materials that lend more energy savings in buildings. The use of asbestos has effectively been either heavily restricted or entirely banned in several countries, creating an opportunity for the introduction of newer materials. In 2013, bituminous roofing was the most widely used product in the global roofing market, accounting for a 45% share of the market. The ubiquity of bituminous roofing in commercial, residential, and industrial structures can be credited for this.
Demand for Roofing Highest from Non-residential construction sector
With a share of over 40% in the global roofing market, non-residential construction represented the largest application segment worldwide in 2013. The demand for roofing in healthcare establishments, academic institutions, offices, and retail outlets has stoked demand for roofing materials in the non-residential sector. The construction of non-residential buildings has also picked up pace following the growth in the economies of various nations, as a result of consumers enjoying higher disposable income. According to a report available on Market Research Reports Search Engine (MRRSE), Asia Pacific represented the largest market for roofing in the world, thanks largely to the high demand for re-roofing on account of frequent storms, earthquakes, and other calamities.