Roofing Underlayment Market in Asia Pacific held the largest share in market in 2016. The region exceeded USD 11 billion revenue in 2016 and will follow same trend throughout the forecast period. This can be attributed to rapid urbanization and industrialization in APAC countries including India, Thailand, Indonesia, and South Korea, which will open growth avenues in construction industry and will eventually fuel product demand in the coming years.
MEA Roofing Underlayment Market in MEA will be fastest rising region of overall market, expanding at a CAGR close to 5.5% during the forecast years. Gulf countries are investing heavily on building & construction projects, which majorly includes public infrastructure strengthening. For example, the upcoming 2022 FIFA Championship will be hosted by Qatar. These projects will pull more construction investments and thus propelling regional roofing underlayment industry.
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Synthetic underlayment reduce the leakage risk through its self-healing traits. Their wrinkle-free and moisture-repellence characteristics shall further compliment growth of non-bitumen synthetic underlayment market. Rubberized asphalt and asphalt-saturated felt shall lose some market share to synthetic underlayment over next few years on account of regulations discouraging products emitting threatening VOC amount.
Roofing Underlayment Market by Product:
- Asphalt-saturated felt
- Rubberized asphalt
- Non-bitumen synthetic
Important pointers encompassed pertaining to the product spectrum:
- The report encompasses major details about the product spectrum.
- The target valuation that each of the sub-segments of the product landscape will procure by the end of the anticipate period are mentioned in the report.
- The market share that these sub-segments held are also entailed in the study.
- The global trends that define the product landscape are discussed in the report.
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The major players involved in roofing underlayment market are:
- Atlas Roofing Corporation
- GAF Materials
- Owens Corning
- Johns Manville
Extensive research & development by industry players will fuel the market share.
According to UN statistics, global population may surpass 9 billion, by the end of 2050. Rising residential needs of growing population along with rural population flocking towards metro cities for employment will prove a major growth prospect for Roofing Underlayment Market size. Moreover, re-roofing projects for residential sector in the U.S., Central and Western Europe will be an important driver for market over the forecast timespan.
In 2016, non-residential construction held the largest share of roofing underlayment market and will experience moderate growth during the forecast timeframe. The segment will witness huge product demand during the forecast period due to escalating refurbishing and maintenance activities. Residential construction is poised to be the fastest expanding segment expanding at a CAGR over 6% in the forecast timespan. This rise can be attributed to surging investments in residential projects particularly in BRICS countries.
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