The global roofing underlayment market is becoming increasingly competitive with growing number of mergers and collaborations between market players to reach full capabilities and gain international footprint. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across Asia Pacific, North America, and Europe. The global roofing underlayment market is projected to grow at a CAGR of 6 % during the forecast period of 2023 to 2030.
Roofing underlayment lies between the shingles and the roof sheathing or roof deck, which is typically either plywood or oriented strand board (OSB). It is installed directly on the roof deck and provides a secondary layer of protection from the elements, rain, snow and wind. There are two techniques of roofing namelysynthetic roofing andfelt roofing widely used in protection of commercial and residential sectors.
Non-Bitumen Synthetic Materials Dominate The Market
Based on product types, the global roofing underlayment market is categorized into asphalt-saturated felt, rubberized asphalt, and non-bitumen synthetic products. On the basis of application, this segment is further categorized residential, commercial, and non-residential applications.
Rubberized asphalt is the most expensive technique of roofing as it features water proofing property. Even without the protection of shingles, a superior product can withstand extreme weather conditions. However, non-bitumen synthetic underlayment continues to generate the highest revenues as they are strongest lightweight materials. Interms of applications, commercial segment continues to dominate due to high value projects such as building warehouses, manufacturing plants, and so on.
Covid-19 impact
The COVID-19 pandemic has had an adverse impact on the market. Direct commercial real estate market fell by 29 percent globally toapproximately US $ 320 billion in the first half on 2020. The key reason ofthe fall included travel lockdown that influenced cross border investments.Therefore, short term capital deployment plans have been postponed orcanceled. The recovery of this drop depends from country to country. However, the transactional pipeline is starting to rebuild. Though the investment seems to be sluggish in the coming month, price will remain as a big motivating factor to invest.
Asia Pacific Remains As Largest and Most Lucrative Potential Market
Asia remains extremely lucrativeregion for building construction & infrastructure industry to converge, network and strike lucrative business deals and establish business partnerships. The huge population, climate conditions & wide variety of consumers in Asia, Increasing disposable income, increasing economic growth and foreign direct investments are key reasons for the market growth. Increase in demand for roofing materials is eventually resulting in well developed supply chain process and modernization of infrastructure.The market for roofing underlying materials is also expected to expand at the fastest pace in Asia Pacific as compared to other regional markets. China will continue to be the leading country for the roofing underlying materials market in Asia Pacific throughout the said period and will account to cross 60% share in the regional market by 2025. In Latin America and the Middle East and Africa, the markets for roofing underlaying materials is expected to witness vigorous growth and will benefit the most from developments in the residential sector. Demand for roofing underlying materials in the commercial sector is expected to be driven primarily by a sustained rise in replacement and maintenance activities.
Key players
Key players in this industry include Owens Corning, Duro-Last Roofing, BASF SE, 3M Company, The Dow Chemical Company, Sika AG, Atlas Roofing Corporation, Boral Roofing LLC, Braas Monier Building Group Services, Carlisle, CertainTeed Roofing, GAF, IKO Industries Ltd, Keene Building Products, MFM Building Products Corp, NovaSeal roof underlaymen, Polyglass, TAMKO Building Products, Vaproshield, Wrap Manufactures and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Roofing Underlayment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
