Valley Cottage, NY -- (SBWIRE) -- 07/22/2019 -- Roofing industry is witnessing several long-term relationships between the manufacturers and customers with growing focus on high brand loyalty. Manufacturers in the roofing industry are working towards enhancing their own brand reputation by means of increasing availability of wide-ranging variety of products with compliance to better quality standards compared to their competitors. For attaining competitive edge, leading companies are strategizing on integrating their tiles product portfolio with roofing components.
Energy-Efficient Roofing Materials Trending in Global Market
Roofing solutions that are dependent on reflective metal are expected to gain traction in the overall roofing materials market. Surging number of renovation and new construction activities is likely to boost the growth of roofing materials market.
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Emergence of energy-efficient cool roofs, burgeoning customer demand for environment-friendly materials in roofing as well as growing demand for the new generation single ply technology across the commercial roofing market is expected to notably trend in roofing materials market. Asphalt shingles are likely to gain significant traction in roofing materials market due to its easy installation and cost-effectiveness. New energy-efficient developments such as solar glass roof by Tesla that creates its own energy has been gaining increasing consumer demand from the global market, thereby trending in roofing materials market.
Highly cost sensitive features of roofing materials is expected to hamper the growth of roofing materials market. For example, asphalt shingles are developed from petroleum, owing to which, volatile prices of roofing materials is likely to take place. Moreover, roofing materials such as bitumen are also restricted in certain parts of U.S. mainly due to non-conformance to the environmental standards. These factors are anticipated to substantially hinder the growth of roofing materials market.
Asphalt Shingles Roofing Material to Drive Revenue Growth of Roofing Shingles Market
Asphalt shingles roofing materials have been witnessing rapidly increasing demand from the residential applications due to easy installation and affordable installation costs. In addition, these roofing materials offer unique properties that are suitable for protection of the roofs that includes temperature fluctuations, water resistance and slope.
Innovative Designs to Be the Focal Area for Roofing Materials Market Manufacturers
Manufacturers are taking immense efforts in developing more innovative aesthetic designs, which in turn drives the production and supply of roofing materials. Manufacturers in roofing materials market are also focusing on energy-efficient roofing materials, by maintaining strength and durability of the product. Increasing number of new housing starts are expected to provide manufacturers with development opportunities for production of shingles and tiles, which in turn positively impact on the growth of roofing materials market. Manufacturers on roofing materials market are strengthening their concentration towards local raw material sites due to growing ease of availability of the raw materials as well as lower transportation costs.
GAF Materials Corporation: This leading roofing materials company has made a $1 million deal for supporting recovery efforts following Hurricane Michael disaster. The company has planned to make $250,000 donation to the Team Rubicon coupled with in-kind contributions of roofing materials to several relief organizations. These efforts by GAF is expected to offer the company with opportunities to elevate its global position in roofing materials market with growing consumer awareness regarding the event.
CertainTeed: This leading roofing materials company has entered into a partnership with Allied Solar Products for the expansion of the partnering company's Solstice® Solar System distribution. This long-standing relationship is expected to create significant growth opportunities to both the companies with regards to demand and supply of their solar and roofing products. This significant step by CertainTeed is likely to create production opportunities for roofing contractors as there are possibilities of growing demand for roofing materials for the purpose of solar jobs, which would need reroofs.
Owens Corning: This leading roofing materials company is increasing its focus on improving its operational performance along with significant commercial progress, especially in terms of roofing market share and pricing actions. Furthermore, the company is anticipating environment consistency with the consensus outlooks for the U.S. housing starts as well as global industrial production development. This in turn is likely to dive in positive growth prospects for roofing materials market owing to possibilities of increasing construction rates.
Rising Number of Re-roofing Activities in Developing Countries to Stimulate Roofing Materials Market
Growing demand from non-residential sectors of developing regions such as China, India, Indonesia, Malaysia and Brazil is expected to be a lucrative factor for the growth of roofing materials market. Surging number of heavy investments in the development of non-residential infrastructures namely production units, manufacturing facilities, warehouses, power plants and transportation services in the developing economies is expected to further drive roofing materials market. Burgeoning demand for re-roofing activities in rural areas with supportive government sponsored schemes is expected to stimulate the growth of APAC roofing materials market.
Rapidly increasing retrofitting activities in Europe is expected to significantly push the demand for roofing materials in the region. Sales growth of roofing materials in North America is likely to be driven by the increasing number of activities.
Roofing Materials Market Taxonomy; Market Has Been Classified Based On Installation, Application and Material Type
Based on installation, roofing materials market can be categorized into
Retrofitting
New installation
Based on application, roofing materials market can be categorized into
Commercial
Residential
Based on material type, roofing materials market can be categorized into
Bitumen
Plastic roofing
Metal roofing
Tile roofing
Asphalt shingles
Others
The report estimates sizing and forecast analysis of roofing materials market for 2018-2028. It offers detailed quantitative and qualitative analysis of roofing materials market. Several secondary sources are utilized for identifying and collecting information beneficial for extensive study of roofing materials market. Primary sources include detailed interviews of industry experts for obtaining and verifying crucial information and analyze factors of roofing materials market.
Roofing Materials Market Covers:
Market size estimates
Study of the competitive strength of the industry
Growth opportunities
Segmentation analysis
Strategic analysis
Regional analysis
Trend and projection analysis
Emerging applications
DROTs
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