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As stated during the forecast period from 2021-to 2027. The Roofing Market is estimated to reach USD 136.9 billion by 2027. Also, increased its CAGR by 4.8%.
A roof is a structure that is imparted to a building. To give it a shape, make it durable. Moreover, please protect it from harsh weather conditions. Mainly it is made from materials like drain, slate, copper, ridge cap, plastic cement, base ply, and sheet. But this market is bringing in new concepts like green roofing, solar roofing, and many other variations. It takes safety into account, proper ventilation, cooling, and others. It promises new standards of living. The roof is coming in modern designs and new features. A roof is necessary for any structure. Apart from residents, public places and commercial hubs also use this system.
This is giving the roofing market an increase in its business. There is an increase in urbanization and industrialization. This is the main reason for the increase in the market. There is a demand for a good and durable roof. Moreover, people are relying on modern and high-end structures. Alternatively, conventional roofs need more time and energy. At the same time, the new roofing system is taking less time and energy. Also, they are attractive and aesthetic.
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Moreover, green roofing is increasing safety and air quality. Furthermore, it saves the cost of air conditioning. Along with this, it is promising noise reduction.
The roofing market is mainly divided into many parts and types.
Under roofing materials, there are bituminous, tile, and metal. Also, it includes RCC and plastics. Under roofing type, there is a flat and slope roof. Moreover, it also consists of residential, commercial, and industrial sectors.
All the sectors demand durable and strong roofs. A roof protects the building from all weather conditions. Therefore the markets are providing a good quality roof. Also, it is diversifying itself in many sectors. There is an increase in schools, hostels and hospitals. Due to this, the demand for the bituminous roof is increasing.
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North America holds a considerable share of this market. The key players of the market are as follows. Atlas Roofing Corporation, The Dow Chemical Company, Johns Manville, Duro-Last, IncOwens Corning, and BASF SE. Moreover, the key players are making strategies to increase its market, like a product launch and business expansion. Also, the government of India and China are investing heavily in this sector.
Furthermore, the government is imparting new rules. To increase the real estate market levels. In India, the key players are. Tata Bluescope Steel, Hindalco Ind Ltd., Everest Industries Limited, JWS Steel, Coated Products Limited, Hindalco Ind Ltd. In this way, the roofing market is increasing.
The roofing market industry is expanding worldwide, especially from North America to Asia-Pacific. Also in Europe and the rest of the world. In India, it expands all over the country. Moreover, polycarbonate roofing is gaining more attraction as it is durable and water-resistant. Also, it is easy to install and requires low maintenance.
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