Commercial Roofing Systems Market Will Generate All New Growth Opportunities, Projected To Reach USD 197.02 Billion At a
The global Commercial Roofing Systems market size was USD 127 Billion in 2022 and is expected to reach USD 197.02 Billion in 2032, and register a revenue CAGR of 5% during the forecast period. With urbanization and industrialization, there has been a sharp rise in construction activity, notably in the residential and commercial sectors, which is driving revenue growth of the roofing systems market.
The rising number of construction projects in non-residential sectors such as schools, offices, and malls has led to a growing demand for roofing system materials. Different materials such as slate, terracotta, concrete, reflective metal roofing, and white flat tile are used for roofing systems. Advancements in technology have resulted in reducing the input cost of building roofs, driving market revenue growth.
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Among the material segments, the asphalt segment accounted for the largest revenue share in 2020 and is expected to register the fastest revenue CAGR during the forecast period. Among the product type segments, the shingles & plates segment accounted for the largest revenue share in 2020. The roofing systems market in the Asia Pacific accounted for the largest revenue share in 2020 and is expected to register the fastest revenue CAGR during the forecast period.
Some of the key players profiled in the global market report include Atlas Roofing Corporation, Johns Manville, ETEX Group, Owens Corning, 3M Company, CSR Limited, Boral Limited, The Siam Cement Public Company Limited, Standard Industries Inc., and Dow Inc.
The global roofing systems market has been segmented based on material, product, construction type, end-use, and region.
Roofing Systems Market: Notable Innovation
As of my last update in September 2021, the Commercial Roofing Systems Market was experiencing various notable innovations aimed at improving sustainability, energy efficiency, and overall performance. However, since I don't have access to real-time data beyond September 2021, I cannot provide the latest developments in the roofing systems market after that date. Nevertheless, here are some notable innovations that were gaining traction at that time:
- Solar Roofing: Integrating solar panels into roofing materials was becoming more popular, allowing buildings to generate electricity from sunlight while providing protection from the elements. These solar roofing systems were designed to be aesthetically pleasing and more efficient than traditional solar panels.
- Cool Roofs: Cool roofing systems were being developed to reflect more sunlight and absorb less heat, reducing the urban heat island effect and helping to lower cooling costs for buildings. These roofs often featured special reflective coatings to achieve the desired cooling effect.
- Green Roofs: Green roofing systems involved the installation of vegetation and plants on rooftops, providing numerous environmental benefits such as improved air quality, reduced stormwater runoff, and enhanced insulation.
- Smart Roofing: With the rise of the Internet of Things (IoT), roofing systems were becoming smarter, incorporating sensors and monitoring technology to detect leaks, assess weather conditions, and optimize energy usage.
- Sustainable Roofing Materials: Manufacturers were exploring more sustainable roofing materials, such as recycled or bio-based components, to reduce the environmental impact of roofing production and disposal.
- Advanced Coatings: Roof coatings with enhanced properties like UV resistance, waterproofing capabilities, and improved durability were gaining popularity as a cost-effective way to extend the life of existing roofs.
- Impact-Resistant Roofing: Innovations in impact-resistant roofing materials were addressing the need for improved protection against severe weather events, such as hailstorms and hurricanes.
Remember that the roofing systems market is continually evolving, and newer innovations may have emerged since my last update. For the latest information on the roofing industry, it's best to refer to more recent sources and industry reports.
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