Residential Roofing Market - Global Industry Analysis And Forecast, 2013 - 2019
Residential roofing comprises of installing roofs, sidings and drainage systems for roofs. On the basis of end use, residential roofing can be segmented as reroofing and new construction roofing. Historically, reroofing dominated the global residential roofing market and the trend is expected to continue. However, rising residential and commercial construction activities, particularly in Asia Pacific, is expected to drive the new construction roofing segment of the market.
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Residential roofing employs several materials such as ceramic or concrete tiles, sheet metal, bricks, aluminum and polyurethanes among others. Acceptance of roofing materials is dependent on various factors such as durability, ease in installation, energy efficiency and government regulations.
Demand for residential roofing is profoundly dependent on the growth of construction industry. The reroofing segment is mainly driven by disposable income and new product development. New construction segment is driven by growing population and overall economy growth rate. Natural calamities and government regulations are amongst the other drivers for the residential roofing industry. Economic slowdown has been a major restraint for industry growth. Increasing demand for energy efficient homes is expected to offer huge growth opportunities for the industry.
Asia Pacific region is expected to drive the growth of new construction roofing mainly owing to the developing economies of India and China. Major roofing materials employed in the Asia Pacific region include asphalt shingles, metal roofing and roofing tiles. In developed economies of North America and Europe, several government regulations have been imposed to improve the energy efficiency of homes. Energy efficient and easy to install materials such as spray polyurethane foams is expected to gain market share in North America. The rest of the world regions are mainly driven by the increasing demand from Middle East and Latin American countries.
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