(MENAFNEditorial) Roofing underlayment market will led by non-residential construction applications and is forecast to exhibit gains over 5% by 2024. Non-residential construction segment led the roofing underlayment market size in 2016 and will show moderate growth by 2024. Non-residential construction will witness extensive demand for roofing underlying treatments by 2024 on account of escalating maintenance and refurbishing activities. However, residential construction segment is projected to be the fastest growing segment with CAGR close to 6.0%. The rise will be credited to increasing investment in residential construction sector particularly in Brazil, India and GCC.
According to a new growth forecast report by GMI, worldwide Roofing Underlayment Market sizeis expected to surpass USD 45 billion by 2024.
Global roofing underlayment industry will be primarily driven by significant infrastructure initiatives especially in APAC countries including India, Japan, China and Indonesia, by 2024. To address the growing infrastructural requirements of the rising population, substantial construction ventures have been undertaken by the governments in the recent years.
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By 2050, global population has been estimated to surpass 9 billion, as per the United Nations. Rising residential necessities of increasing population coupled with high rate of urbanization will present a robust growth indicator for roofing underlayment market. Residential re-roofing activities in Europe and North America will be another key driver for the roofing underlayments market in the coming years.
Roofing underlayment market is monitored by several environmental regulations laid by REACH and EPA regarding volatile organic compounds (VOC) discharges from producing asphalt-saturated felt and rubberized asphalt. This will further encourage the contractors towards usage of non-bitumen roofing underlayments, which might pose as an intra-industrial restrain in the coming years.
Non-bitumen synthetic roofing underlayment segment held highest market share in 2016 and accounted more than 40% industry share in 2016. Massive industry share is credited to unique features exhibited by synthetic underlayments such as light weight, resistance against tearing & leaking & fungal growth, ease of fixing and anti-skid finish. Majority of synthetic underlayments minimalize the occurrence of leaks by exhibiting self-healing properties. Their moisture-repellence and wrinkle-free performance will further encourage the usage of non-bitumen synthetic underlayments market. Asphalt-saturated felt and rubberized asphalt will lose some share to synthetics in the near future owing to regulations discouraging VOC emissions.
Browse key industry insights spread across 124 pages with 139 market data tables & 12 figures & charts from the report,'Roofing Underlayment Market Size By Product (Asphalt-Saturated Felt, Rubberized Asphalt, Non-Bitumen Synthetic), By Application (Residential Construction, Commercial, Non-Residential Construction), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 2024in detail along with the table of contents:
Geographically, Asia Pacific had the highest share in global roofing underlayment market in 2016. The region had surpassed USD 11 billion in the same year and will likely follow the same trend by 2024. MEA is expected to be the next fastest growing region in the industry with an estimated CAGR over 5.5%. GCC government investment in construction sector has been rising substantially, in order to strengthen the regional infrastructure with a vision towards upcoming events. For instance, FIFA World Cup 2022. These trends will stimulate the global roofing underlayment market.
Significant roofing underlayment market players include: CertainTeed Corporation, Atlas Roofing Corporation, GAF Materials, Owens Corning, Tarco, Johns Manville, Gardner-Gibson, Duro-Last Roofing, Inc., Vaproshield, DuPont, etc. Extensive product development initiatives by the industry players will boost the roofing underlayment market size.
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Roofing underlayment market research report includes in-depth coverage of the industrywith estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Roofing Underlayment Marketby Product
Asphalt-saturated felt Rubberized asphalt Non-bitumen synthetic Roofing Underlayment Marketby Application
Residential construction Commercial Non-Residential construction The above information is provided on a regional and country basis for the following:
North America Europe - Germany
- UK
- France
- Spain
- Italy
Asia Pacific - China
- India
- Japan
- Australia
- Indonesia
- Malaysia
Latin America - MEA
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