Global Commercial Roofing Materials Market size is projected to be valued $10 Billion by 2024; with a CAGR of 3.5% from 2017 to 2025. Commercial roofing materials can be prepared from various materials such as rubber, wood, asbestos, and others. Offices, hotels, malls, and medical centers are few application areas that pose a huge demand for commercial roofing materials. The market is expected to show high growth in the coming five to six years.
Rise in disposable income, growing urbanization, and increasing commercialization are the major factors driving the global commercial roofing materials market. However, rising price of volatile crude oil and other energy sources used in manufacturing process are expected to restrain the market growth. Rising demand of roofing products in construction of green buildings would provide several growth opportunities for the market in coming years.
The global commercial roofing materials market is bifurcated by building type and materials type. The segmentations by building type include steep sloped roofing and low sloped roofing. By materials type, the global commercial roofing materials market is further segmented into single ply products, modified bitumen materials, spray polyurethane foam, built-up roofing, metals and others. By building type, low sloped roofing accounted for more than two-third of the total market revenue in 2016. Steep sloped roofing is expected to grow at the fastest CAGR from 2016-2024, driven by rising office, retail, and lodging construction spending. Geographically, the market is categorized into North America, Europe, Asia-Pacific and Rest of the world.
Based on geography, the market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Spain, Italy, and others. Asia-Pacific covers China, India, Japan, Australia, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in this market are Firestone Building Products Company, Atlas Roofing Corporation, Owens Corning Corporation, Johns Manville Corporation, GAF, CertainTeed Corporation, TAMKO Building Products, Inc., IKO Industries Ltd, Duro-Last Roofing, Inc., and Braas Monier Building Group, among others.
The report covers
Scope of the Global Commercial Roofing Materials Market
Building Type Segment
Materials Type Segment