Global roofing materials' market to top $159bn by 2027
LONDON, April 10, 2021
The international roofing materials industry is poised for solid growth over the next six years, which is estimated to hit over $159 billion by 2027, according to Global Market Insights.
Rising concern over energy-efficient roofing solutions, growing demand for renovation and refurbishment projects, and R&D investments in product developments will positively impact the market growth over the forecast timeframe, it stated.
Growing concern for energy consumption across the developed economies along with increased awareness about energy-efficient roofing solutions is expected to drive the market growth over the forecast timeframe.
The rising popularity of green building products in Germany, the US and other European economies coupled with the usage of energy-efficient shingles in these buildings is expected to drive product demand.
The rapid urbanization in emerging economies and easy availability of financing options will further support residential construction industry, thereby offering lucrative opportunities for roofing products, stated the report.
According to the report, concrete and clay tile materials are predicted to generate $36 billion revenue by 2027.
The improved aesthetics of concrete & clay tiles along with durability of materials is supporting their usage in several residential applications.
The material is popular in Europe and Asia Pacific. The integration of these products with solar sales and developments in insulated roofing tiles is expected to further drive industry growth. The material offers several benefits to users including easy to customize, durable, weather & fire resistance, low maintenance, among others.-TradeArabia News Service
