Roofing Trends to Watch

The global roofing market could witness an increased focus in emerging economies. Development of technologies such as photovoltaic roofing systems used for roofing materials could also offer opportunities to make progress in the market.

South America, Africa, and Asia Pacific have been expected to be the top geographies targeted by global players. The world roofing market could achieve a revenue valuation of $124.50 billion in 2024.

The international roofing market has been envisioned to gain momentum from the large adoption of bituminous roofing in the U.S., Canada, and other developed countries. Also known as asphalt roofing, it reserved a significant share in the international roofing market in 2015. Strong urbanization across emerging nations warranting the rise of the construction of amusement parks, institutions, and hospitals could be one of the critical driving factors of the market.

Products with relatively high feasibility and easy installation, along with several color and texture options, have been forecasted to bode well for the market.

The skyrocketing costs on the installation of roofing systems and of roofing materials could slow down the growth in the market. The expansive growth of the construction industry, especially in developing regions, will raise the hopes of participants in the market.

As the emerging economies grow, this market will be one contractors should take note of for opportunities.

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