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Roofing Angled for Global Growth

Monday, May 16, 2016

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The global roofing market is back on the rise, with increasing demand in the United States and other developed regions expected to offset some deceleration in the massive Chinese market.

Global demand for roofing is projected to increase by 2.9 percent per year to 13.8 billion square meters in 2020, The Freedonia Group Inc. reports in a new study, "World Roofing."

The market will reach a value of $124 billion in 2020, the study suggests.

Mapping Growth

China, the world’s largest market for roofing, accounted for 29 percent of the global total in 2015 in terms of area. However, the country is seeing a slowing in demand along with decreased construction spending and housing completions, Freedonia reports.

tile roof
© iStock.com / ErikdeGraaf

China is the world's largest market for roofing; however, demand increases in the country are slowing.

Growth in developing markets, including India and Indonesia, will “significantly outpace those in China” during the forecast period, according to analyst Mariel Behnke.

The Africa/Mideast region will continue to see the most rapid growth of any region through 2020, fueled by advances in building construction.

In the U.S., the continued return of the housing market will bring back the roofing market, Freedonia reports, noting that demand in Western and Eastern Europe will also see rebound-fueled growth in the coming years.

Materials in Demand

Bituminous and tile roofs were the two most popular choices in 2015, accounting for two-thirds of the global market in area terms, reports Freedonia.

Bituminous shingles and plates can expect to see healthy growth, driven by recovery in North America, where they are popular in residential applications.

Freedonia
© Freedonia Group

Concrete tile is also forecast to see rapid growth, supported by rising market share over clay tiles in China (where the use of clay is limited by government regulations), as well as housing construction recoveries in the U.S. and Western Europe.

Plastics are expected to see the fastest increases of all roofing materials, due to growth in India and the Africa/Mideast region; however, the report says the materials will continue to account for less than five percent of global roofing demand.

The complete study is available for $6,600.

   

Tagged categories: Asphaltic/bituminous; Market forecasts; Market share; Roofing materials; Roofs; Tile

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