Residential roofing consists of sidings, installing roofs, and drainage systems for roofs. Worldwide development of efficient and advanced technology in roofing materials, rising commercial real estate of investments, growing popularity of eco-friendly roofing technologies, increasing popularity of rubber roofing, increasing building renovations & remodeling are the prime growth drivers of global inhabited roofing market.
In addition, increase in adoption of residential roofing for application in newer industrial vertical, and emerging economies such as China, India and others, will create new opportunities for global residential roofing market. However, volatile prices and availability of raw materials, lack of accessibility, and higher cost of residential roofing are the key restraints for global residential roofing market size.
Global Residential Roofing Market size is segmented By Product into Bituminous Metal, Tile, Others (Including Fiber Cement, Plastic, Etc). Global Residential Roofing Market size is segmented By Type into Asphalt Shingles Roofing Metal Roofing, Elastomeric Roofing, Built-up Roofing, Modified Bitumen Roofing, and others. Global Residential Roofing Market size is segmented by Residential Construction into Commercial, and Non-residential Construction.
The market is expected to increase toward investments in non-residential infrastructure, such as transportation services, power plants, warehouse, manufacturing facilities and production units, among others, which, in turn, is expected to fuel the growth of the materials types segment of the global roofing market. In addition to this the requirement of roofing materials from residential and profitable sectors is also boosting the growth of the materials type segment of the global roofing market during the upcoming years.
The non-residential application segment led the global roofing market size in 2015. Augmented command for roofing materials, owing to need for enhanced transportation facilities, transformation of power infrastructure, implementation of enhanced policy system and reforms, and development of rural areas has led to the growth of the non-residential application segment of the global roofing market. Nonetheless, the residential application segment of the global roofing market is predictable to grow at the maximum CAGR during the forecast period.
Global Residential Roofing Market is segmented By Geographical Region into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). Geographically Asia Pacific dominates global residential roofing market, followed by North America. Asia Pacific is projected to have the fastest growth, owing to rapidly increasing construction industry, rise in industrial sector, inflexible government regulations to advance the energy competence of homes, mounting toughness, ease in mechanism, and growing urbanization in developing nations such as China, and India in this region.
Amongst all the applications, new construction roofing has the maximum market share in global inhabited roofing market due to encourage in construction industry. Metal Roofing is the market leader among all types of residential roofing, unsettled to its better presentation, durability, and ease of installation. The Key Players include Royal Group Inc, Atlas Roofing Corp, Knauf Insulation Inc, GAF Materials Corp, and Sika Sarnafil Inc.