North America Roofing Market : According to a new report published by Allied Market Research, titled, “North America Roofing Market Analysis: Opportunity Analysis and Industry Forecast, 2018–2025,” the market size was $29,864.4 million in 2017, and is projected to reach $47,517.8 million in 2025, growing at a CAGR of 5.9%. In value terms, the flat roof segment accounted for over two-thirds of the roofing market share in 2017 and is expected to witness significant growth during the forecast period.
A roof is a structure that covers the houses or buildings and protects their interior and exterior.
Factors, such as new construction, renovation, and retrofitting activities for buildings as well as infrastructure are expected to drive the market during the forecast period. Moreover, roofing manufacturers adopt various strategies, such as business expansion and acquisition, to strengthen their market presence, which boost the growth of the roofing market. For instance, in 2018, Beacon Roofing Supply, Inc. acquired three companies named Atlas Supply, Tri-State Builder’s Supply, and Allied Building Products, to increase their customer base and gain maximum share in the North America Roofing market.
Development in technology, such as the development of RS-8020 PVC roofing systems by Johns Manville, is one of the major factors that drives the roofing market. The system is equipped with UV resistance property that works effectively in the long run, despite harsh weather conditions. In addition, increase in standard of living particularly in the developing countries makes way for different building renovation projects, which fuel the demand for the roofing market.
Further, recent flat roof or low-slope roofs usually have a continuous membrane covering. These membranes are installed as incessant sheets, bonded together by adhesives. However, rise in roofing material costs are expected to hinder the North America roofing market growth to a certain extent from 2018 to 2025.
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