Roofing Underlayment Market 2018 In-Depth Analysis of Industry Share, Size, Growth Outlook up to 2024
Category: #reports  By Partha Ray  Date: 2019-01-12
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Roofing Underlayment Market 2018 In-Depth Analysis of Industry Share, Size, Growth Outlook up to 2024

Roofing Underlayment Market will surpass USD 45 billion by 2024, 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.

According to the UN, the global population is anticipated to surpass 9 billion by 2050, thereby necessitating the demand for housing and infrastructural development. This has in turn, stimulated the global construction industry growth, in consequence, impacting the expansion of roofing underlayment market. While the developed nations of North America and Europe will witness a return of the expansive construction industry after having recovered from economic crisis, MEA and Asia Pacific with rapid urbanization, industrialization and population growth will account for a significant portion of the roofing underlayment market revenue.

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Report Mainly focuses on the top Manufacturers in global market are given bellow

CertainTeed Corporation, Atlas Roofing Corporation, GAF Materials, Owens Corning, Tarco, Johns Manville, Gardner-Gibson, Duro-Last Roofing, Inc., Vaproshield, DuPont

 

By Product

  • Asphalt-Saturated Felt
  • Rubberized Asphalt
  • Non-Bitumen Synthetic

 

By Application

  • Residential Construction
  • Commercial
  • Non-Residential Construction

 

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.

 

Non-residential construction segment led the roofing underlayment market 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.

 

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.

 

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Stringent environment regulations due to concerns regarding climate change have added impetus to the roofing underlayment market as roof underlayment can often act as a potential barricade against energy loss from building. The demand for more energy efficient buildings due to legislation as well as rising consumer awareness has led to the retrofitting of buildings to be more environment-friendly, thereby attributing to reroofing activities and consequent growth in the roofing underlayment market. In other regions like the MEA, governments are heavily investing in diversifying their country’s profile from being based on the source of fossil fuel and concentrating on augmenting tourism which has lately led to a massive hike in construction activity in MEA, adding to the roofing underlayment market growth.

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About Author

Partha Ray

Email: [email protected]   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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