The latest market report published by Credence Research, Inc. “Roofing Underlayment Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global roofing underlayment market was valued at US$ 27,478.6 Mn in 2016, and is expected to Reach US$ 44,490.5 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
Browse the full Roofing Underlayment Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/roofing-underlayment-market
The global roofing underlayment market has witnessed a significant rise in strategic mergers and collaborations among roofing underlayment manufacturers. Such growth strategies are focused at augmenting their service portfolio. The demand for a variety of roofing underlying materials has started gaining strength. However, the market is on the brisk of a huge alteration as emerging economies such as Asia Pacific and Latin America are imposing most influential positions in the market. The booming construction sector and a constant rise in new construction activities in these emerging economies are mostly to be ascribed for the excellent growth prospects for roofing underlying materials in the regions. In North America and Europe, on the other hand, demand is mostly stimulated by refurbishing and maintenance activities.
The non-residential sector is presently the largest contributor to the global roofing underlying materials market, accounting for a share of nearly 44% in the global market. The segment growth is expected to slow down to the residential sector with a slight decline in its overall share in the global market in 2025. Demand for a variety of roofing underlying materials in the commercial sector will be driven largely by continuous rise in replacement and maintenance activities post the recent economic downturn. Stabilizing economies are enabling the commercial sector to take up previously deferred replacement projects.
Asia Pacific held a dominant share of nearly 41% in the global roofing underlying materials market in 2016, mainly owing to the booming construction industry and constantly rising numbers of new homeowners in urban parts of the region. The market for roofing underlying materials is also expected to expand at the fastest pace in Asia Pacific as compared to other regional markets. In Latin America and the Middle East and Africa, the markets for roofing underlying materials will show strong growth and will benefit the most from developments in the residential construction sector.