Roofing Materials Market to Reach US$ 161.1 Billion by 2027 | CAGR of 4.51%

According to the latest report by IMARC Group, titled “Roofing Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global roofing materials market reached a value of US$ 124.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 161.1 Billion by 2027, exhibiting a CAGR of 4.51% during 2022-2027.  Roofing materials offer shelter and protection against harsh environmental conditions. They comprise felt, drain, sheet, slate, grout, gravel, gutter, copper, base ply, coating, flashing, fasteners, insulation, joint tape, ridge cap, downspout, closure strip, underlayment, plastic cement, and asphalt shingles. Nowadays, leading manufacturers are introducing advanced roofing materials that are economical and effective in wet and windy regions. 

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Roofing Materials Market Trends:

Due to the growing global population and inflating income levels, there is a considerable rise in the need for housing units, especially in the urban region. This represents one of the key factors strengthening the growth of the market. Moreover, the increasing demand for commercial and retail spaces is positively influencing the demand for roofing materials around the world. Apart from this, governing agencies of several countries are investing in improving the infrastructure of schools, urban transport, and healthcare institutions. They are also renovating and redeveloping the existing infrastructure, which is impelling the growth of the market. Furthermore, rising environmental concerns and increasing focus on sustainable buildings are resulting in the growing traction of green roofs across the globe. These roofs are covered with plants, have a longer lifespan and aid in enhancing the air quality and minimizing water runoff. Besides this, key market players are providing durable and easy-to-install roofing materials in varying grades and thicknesses, which is propelling the market growth. 

Read more: https://www.digitaljournal.com/pr/roofing-materials-market-to-reach-us-161-1-billion-by-2027-cagr-of-4-51#ixzz7Wk8TrFcN