Global Industry Analysis and Forecast 2022–2027 for Residential Roofing Market by Type, Application, and Region

The market research report for the Residential Roofing market includes a prediction for the years up to 2029 as well as in-depth information on the market's size, rate of growth, revenue, trends, and potential. Also carefully analysed are the main variables affecting the development of this sector. This study involved a thorough quantitative examination of the market, and the findings can be used to inform the creation of growth- and productivity-boosting measures.

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Residential Roofing Market Overview:

Focusing on the most recent drivers, restraints, and opportunities for the Residential Roofing   industry, the in-depth company firm's study is on the Residential Roofing   market. Discussions with eminent businesses follow to confirm the results. In the secondary review and analysis of the same, both paid and unpaid data sources are utilised. Data on each player's supply and consumption are assembled using official government sources, independent data sources, and, in the case of publicly traded firms, financial reports of the company. Even if financial documents from businesses are not made available to the general public, the tax division of the local government may be able to obtain them.

Residential Roofing Market size was valued at US$ 9.90 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 4.7% from 2022 to 2027, reaching nearly US$ 13.04 Bn.

COVID-19 Impact:

The analysis examines the existing and potential impacts of the COVID-19 pandemic on the entire market and delivers more accurate and true estimates in accordance with the market scenario. The world is in anguish due to the coronavirus outbreak. Almost every country has had strict social segregation laws in place, like lockdowns. This has caused disruptions in supply systems. The epidemic has altered societal structures all across the world. The market as a whole is affected by the COVID-19, and as that impact increases in 2019 and 2020, so does the rate of growth. In order to provide decision-makers with reliable data and experiences, businesses and organisations are being compelled by the COVID-19 tragedy to manage risk and digitise operations. This is consistent with the most recent analysis, research, and recommendations from MMR on the management challenges that are crucial for businesses and organisations and have a substantial market impact.

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Residential Roofing Market Key players:

• Atlas Roofing Corporation
• Owens Corning
• Braas Monier Building Group
• Etex
• Boral Ltd.
• TAMKO Building Products
• Saint Gobain SA
• Johns Manville
• Carlisle Companies Inc.
• Knauf Insulation Inc.
• BASF SE
• Certain Teed
• Royal Group Inc.
• Rockwool Group

Key company and market share insights:

The major competitors are listed here for audiences to learn about. The main strategic actions these businesses take to maintain market dominance are reviewed in this study, including product portfolio strengthening, M&A, partnerships, new, innovative products, and geographic penetration. In addition to critical financial information and current events, the report also provides the company's goals. The companies' global sales, earnings, and profit margins from 2017 through 2022 are also covered in more detail for users.

Residential Roofing Market Dynamics:

The key growth driver for the global residential roofing market is rising demand for residential roofing due to its high re-resistant roofing advantages from end-use applications such as re-codes and standards. In addition, the metal used in roofing absorbs UV radiation from the sun, keeping the structure cooler in the summer. Additional growth drivers for the global residential roofing market are high strength, durability, and low maintenance. Climate change, on the other hand, may have an impact on product quality, which is expected to limit the residential roofing market's growth during the forecast period.

The development of new, effective roofing materials, rising adoption of environmentally friendly hygiene products, investment property, and rubber roofs, as well as higher building rehabilitation, are expected to drive the global residential roofing market forward. Increased demand for hard coating from a variety of end-use applications is also expected to boost the growth of the market.

Residential Roofing Market Segment:

Based on the Application, the market is segmented into Reroofing, and New Construction Roofing. Reroofing segment is expected to grow rapidly at a CAGR of during the forecast period 2022-2027. As multiple incidences of adverse weather events were seen in several places of various regions, residential reroofing activities caused huge demand for asphalt shingles from past years. Residential reroofing is expected to continue to be the largest market for asphalt shingles during the forecast period. The United States has a large number of older homes, many of which feature three-tab shingles that do not comply with contemporary construction requirements. Prior to a policy renewal, insurers may require homeowners to replace outdated shingles with newer, more durable laminated asphalt shingles as a condition of keeping coverage. As a result, rising demand for reroofing is expected to drive the residential roofing market forward during the forecast period.

New Construction Roofing segment is expected to grow rapidly at a CAGR of during the forecast period 2022-2027. This is due to the growing number of applications in the construction industry. The Indian government has set a goal of 20 million adaptable houses by 2022, which will have a significant market influence. According to the International Trade Administration, China's construction industry is expected to grow by 5% on an annual average in real terms between 2019 and 2023.

Regional Analysis:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

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