MarketsandMarkets projects that the roofing systems market size will grow from USD 109.72 Billion in 2016 to USD 157.56 Billion by 2021, at a CAGR of 3.06% from 2016 to 2021. This market is growing in accordance with the construction industry. Factors such as increasing residential and non-residential construction, infrastructural activities, and high durability of roofs are driving the demand for roofing systems.
Global roofing systems manufacturers and vendors are continuously adding innovations to their products & services to protect the enterprise networks against advanced persistent threats.
The global market for roofing systems is dominated by large players such as Compagnie de Saint Gobain SA (France), Etex Group NV (Belgium), Boral Limited (Australia), Braas Monier Building Group SA (Luxembourg), Owens Corning (U.S.), and Carlisle Companies Incorporated (U.S.). Other players in this market include CSR Limited (Australia), The Siam Cement Public Company Limited (Thailand), Berkshire Hathaway, Inc. (U.S.), and Atlas Roofing Corporation (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Acquisitions, collaborations/agreements/joint ventures, new product developments, and expansions & divestitures are some of the major strategies adopted by the market players to achieve growth in the market.
The growth of the roofing systems market was largely influenced by mergers & acquisitions in the past five years. Other developments such as new product developments and expansions & agreements were also made by the top players in the market during this period. Companies such as Compagnie de Saint Gobain SA (France), Braas Monier Building Group SA (Luxembourg), and Owens Corning (U.S.) adopted this strategy to increase their geographical reach and expand their product portfolios. The roofing systems market also witnessed several new expansions between 2012 and 2016.
CertainTeed (U.S.), a subsidiary of Compagnie de Saint Gobain SA acquired Matterhorn Metal Roofing brand from Quality Edge, Inc. (U.S.). This acquisition helped CertainTeed expand its product portfolio in the U.S. It also expanded the distribution of its NorthGate SBS-Modified asphalt roofing shingle product line in additional 14 North American states including North Dakota, South Dakota, Kansas, Missouri, and Iowa. This expansion was carried out due to an increase in demand in these states.
Owens Corning (U.S.) acquired InterWrap Roofing Products (Canada), a manufacturer of roofing underlayment and packaging materials, for USD 450 Million. The acquisition was aimed at strengthening Owens Corning’s capabilities and accelerating the growth in the roofing components market.
Roofing Systems Market by Material (Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates, Tiles), Construction Type (New Construction & Reform Construction), End-Use Sector (Residential & Non-Residential) - Global Forecast to 2021
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