North American Roofing Material Market Revenue To

sudeep
sudeep 12/5/2022 3:02:34 PM

North American Roofing Material Market Revenue To Show Tremendous Growth Till 2027


North American Roofing Material Market is
projected to reach USD 40 billion by 2027. North America roofing materials
market forecast may be positively impacted by the increasing number of
reroofing activities across several residential projects in the U.S. Various types
of roofing materials, such as bituminous, clay & concrete tiles, elastomers,
metals, and plastics are widely used to cover the outer surface of roofs of
commercial, industrial, and residential establishments.

Industry players are expected to cash in on
many benefits of using roofing materials, such as effective temperature control,
waterproofing, and elevated appearance, among others, across North America. Besides,
increasing disposable incomes, prompt availability of loans, and easy access to
affordable products have encouraged end-users to go for renovations and
refurbishments, thereby augmenting the sale of roofing materials.

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Use of roofing materials to increase in
non-residential spaces

Non-residential applications may hold a
share worth $16 billion in North America roofing materials industry by 2027.
There is a notable increase in the construction of non-residential buildings,
such as colleges, hospitals, offices, and hotels. Moreover, tech giants,
including Google, Apple, and Amazon are planning to expand their offices. Several
buildings are undergoing refurbishments and remodeling operations, thereby
increasing the use of roofing materials.

Demand for bituminous materials to increases

Bituminous materials captured around 75%
share of North America roofing materials market in 2020. Asphalt shingles are
the most commonly used bituminous materials across the region. The main
benefits of using the product include high durability, variety in a range of
items, pleasing aesthetics, and high resistance to fire and wind. Also, asphalt
shingles are capable of enduring high impact, which makes them a preferred
product choice among end-users.

Roofing materials to be used
increasingly in new construction projects

Based on type of construction, North
America roofing materials market size from new constructions will witness 4.5%
CAGR over 2021-2027. The number of new residential and commercial projects is
increasing at a strong pace across Canada and the U.S. Roofing materials are readily
available across the region at a wide range of prices.

Furthermore, the ability to endure the heavy
compressive force and great durability are some of the major factors
contributing to the adoption of roofing materials. Many builders are
increasingly opting for technologically advanced materials that have high
thermal insulation, incur low maintenance costs, help conserve energy, and have
a longer lifespan, thereby increasing the production of roofing products.

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U.S. roofing materials market share to gains
traction

U.S. roofing materials industry size will
register over 4.5% CAGR through 2027. A major reason behind this is the growing
number of large-scale construction and reroofing projects in the country.
Public and private-sector organizations are increasing their investments in the
development of large warehouses and distribution logistics centers. The aim behind
building this infrastructure is to improve the overall supply chain management
of products and services, which will automatically create demand for
high-quality roofing materials.

North America roofing materials industry
outlook may continue to remain positive as reputed organizations, including CertainTeed
Corporation, Owens Corning, Johns Manville, TAMKO Building Products LLC, and
Atlas Roofing Materials Corporation, among a few others are manufacturing
roofing materials, such as concrete & clay tiles, bituminous, metals,
elastomers, and plastics. These products will be extensively used in
residential and non-residential projects. The demand for these materials will
be high across both new and reroofing construction projects.

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