- The global roofing underlayment market has witnessed a significant rise in strategic mergers and collaborations among roofing underlayment manufacturers.
- The non-residential sector is presently the largest contributor to the global roofing underlying materials market.
- The market for roofing underlying materials is expected to expand at the fastest pace in the Asia Pacific region.
The latest market report published by Credence Research, Inc., the global roofing underlayment market was valued at $27,478.6 Mn in 2016, and is expected to reach $44,490.5 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
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The global roofing underlayment market has witnessed a significant rise in strategic mergers and collaborations among roofing underlayment manufacturers. Such growth strategies are focused on augmenting their service portfolio. The demand for a variety of roofing underlying materials has started gaining strength. However, the market is on the brisk of a huge alteration as emerging economies such as Asia Pacific and Latin America are imposing the most influential positions in the market.
The booming construction sector and a constant rise in new construction activities in these emerging economies are mostly to be ascribed for the excellent growth prospects for roofing underlying materials in the regions. In North America and Europe, on the other hand, demand is mostly stimulated by refurbishing and maintenance activities.
The non-residential sector is presently the largest contributor to the global roofing underlying materials market, accounting for a share of nearly 44% in the global market. The segment growth is expected to slow down to the residential sector with a slight decline in its overall share in the global market in 2025. Demand for a variety of roofing underlying materials in the commercial sector will be driven largely by the continuous rise in replacement and maintenance activities post the recent economic downturn. Stabilizing economies are enabling the commercial sector to take up previously deferred replacement projects.
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The Asia Pacific region held a dominant share of nearly 41% in the global roofing underlying materials market in 2016, mainly owing to the booming construction industry and constantly rising numbers of new homeowners in urban parts of the region. The market for roofing underlying materials is also expected to expand at the fastest pace in the Asia Pacific region as compared to other regional markets. In Latin America and the Middle East and Africa, the markets for roofing underlying materials will show strong growth and will benefit the most from developments in the residential construction sector.
List of Companies Covered: Atlas Roofing Corporation, Boral Roofing LLC, Braas Monier Building Group Services S.A., Carlisle, CertainTeed Roofing, Duro-Last Roofing Inc., GAF, IKO Industries Ltd., Keene Building Products, MFM Building Products Corp., NovaSeal roof underlayment, Owens Corning, Polyglass, TAMKO Building Products Inc., Vaproshield, and Wrap Manufactures.
By Product Type: Asphalt-saturated felt, Rubberized asphalt, Non-bitumen synthetic
By Application Type: Residential, Commercial, Non-Residential
By Geography Segment Type: North America (the U.S., Rest of North America), Europe (U.K., Germany, France, Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Rest of the World (the Middle East & Africa, Latin America).
Roofing Underlayment Market Is Expected To Reach $44,490 Million By 2025.