Single-Ply Roofing Market is Growing at a CAGR of 8.0%, and the Growth is Influenced by Rise in Construction Industry, Rapid Urbanization and Innovations in Technology | Reports and Data
Market Size - USD $4.61 Billion in 2018, Market Growth - CAGR of 8.0%, Market Trends - Product Launches and Acquisitions of Regional Payers
NEW YORK, September 16, 2019 (Newswire.com) - The rise in the construction industry, rapid urbanization and innovations in technology are the key factors that drive the growth of the market. Increasing strategic developments, such as partnerships and agreements, favorable research funding scenarios and new product developments, are the key factors contributing to a high CAGR of the single-ply roofing market during the forecast period.
According to the current analysis of Reports and Data, the global Single-Ply Roofing Market was valued at USD $4.61 billion in 2018 and is expected to reach USD $5.72 Billion by the year 2026, at a CAGR of 8.0 percent. The study covers single-ply roofing membranes, which are flexible sheets of compounded plastic-derived material that are used to cover and protect flat and low-sloped buildings. These prefabricated membranes are manufactured in a factory to strict quality control requirements and can be attached in a variety of methods. Roofing materials are a vital necessity in construction, as they comprise the primary barrier against natural elements such as rain, cold and heat.
A rise in the demand for cost-effective roofing materials, such as PVC and EPDM, is expected to fuel market growth. Emerging regional players or new entrants are estimated to gain opportunities to enter the market. A rise in government initiatives, coupled with infrastructural investments in the commercial and residential construction sectors, is expected to propel the market, especially in the emerging markets of the world.
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Further key findings from the report suggest
- In 2018, the global market for thermoplastic membranes was USD $3.2 billion. Thermoplastic roofing membranes, such as TPO and PVC, accounted for the maximum market share in the global market with 36.5% and 27.6% respectively. These membranes are anticipated to consolidate its position during the forecast period, owing to easy installation, higher durability, longer life span, and technological innovations. In addition, the governments of countries such as India, China, Malaysia, Indonesia, and others have invested heavily in infrastructure development, which also fuels the demand of thermoplastic single-ply roofing in the Asia-Pacific market.
- As of 2018, the fully adhered installation method is expected to display the highest growth rate of 8.5% over the forecast period.
- Single-ply roofing systems for industrial end-use acquired the largest share in 2018, while commercial roofing is expected to grow at the fastest rate during the forecast period.
- North America and Europe dominated the single-ply roofing market, with over 70% of the market share, in terms of value, in 2018.
- The U.S. accounted for a 35.6% market share of the global market in 2018 and is expected to account for a market worth USD $ 2.7 billion in 2026.
- Asia-Pacific is expected to account for 20.1% of the global single-ply roofing APAC countries, such as China, Japan, and Australia, which are likely to witness high growth during the forecast period.
- Key participants include GAF, Dow Roofing Systems LLC, Duro-Last, Inc., Carlisle SynTec System, Kingspan Group, Johns Manville, Owens Corning, Carney Roofing Company Inc., and Baker Roofing Company among others.
- Due to end-user opportunities and fragmented nature of the market, the intensity of rivalry is anticipated to increase during the forecast period. Hence, the market players are focusing on strengthening their market position at the global market, through acquiring business assets of local players and innovation and product licensing.
- The development of new product is one of the most prominent trends observed in the single-ply roofing market. Market players are focusing on development of new products to increase their portfolio and satisfy new target markets. Carlisle SynTec Systems, a leading manufacturer of single-ply roofing materials, introduced its Sure-Flex PVC KEE FRS FleeceBACK membranes. Another manufacturer, Johns Manville, introduced EPDM FIT Product Line with Tape-to-Tape offering in 2018.
For the purpose of this report, Reports and Data has segmented the single-ply roofing market on the basis of membrane type and sub-types, installation methods, end-user, and region:
Membrane Type (Revenue, USD Million; 2016–2026)
Installation Method (Revenue, USD Million; 2016–2026)
- Mechanically Attached System
- Fully Adhered System
- Induction-Welded Roof Installation System
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End-Use (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
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Source: Reports and Data
Tags: Competitive Intelligence, Forecast, Industry Overview, Industry Segment, Industry Statistics, Market Leaders, Market Players, Outlook, Price Trend Analysis, Reports and Data, Single-Ply Roofing Market, Trends