Transparency Market Research has released a new market report titled “Roofing Underlying Materials (Asphalt-saturated Felt, Rubberized Asphalt, and Non-Bitumen Synthetic) Market for Residential, Commercial, and Non-residential Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024.“ According to the report, the global roofing underlying materials market was valued at $27.99 billion in 2015 and is projected to reach $45.6 billion by 2024, expanding at a CAGR of 5.5% between 2016 and 2024.
Roofing underlying materials are used as the secondary layer that is placed beneath roofing (shingles, etc.). Underlying materials help in holding the shingles in place. Roofing underlying materials can be manufactured from various raw materials including asphalt, cellulose base (organic), fiberglass substrate, and polymers (including polyethylene and polypropylene).
The roofing underlying materials market product type was segmented into asphalt-saturated felt, rubberized asphalt, and non-bitumen synthetic. Asphalt-saturated felt and rubberized asphalt are asphalt-based; however, rubberized asphalt derives its elastic properties from rubber-like materials (mostly polymers) added during the manufacturing process. Roofing underlying materials are commonly used in applications such as residential construction, non-residential construction, and commercial constructions such as buildings, hotels, offices, public outlets, and educational institutes.
The non-bitumen synthetic roofing underlying materials segment was the largest product segment of the roofing underlying materials market accounting for a share of over 35% in terms of volume in the global market in 2015. The report found that synthetic underlying materials are preferred over asphalt-based underlying materials, as synthetic materials are easier to install and can withstand harsh environments better than asphalt-based materials. Synthetic underlying materials provide better resistance to moisture, rain, vapor, UV radiation, and fungal damage. In addition, they are estimated to be the fastest growing product segment of the roofing underlying materials market during the forecast period.
The report states that the non-residential sector was the largest application segment of the roofing underlying materials market, accounting for more than 40% share in terms of volume in 2015. Residential construction is anticipated to be the fastest expanding application segment, growing at a CAGR of 4.6% from 2016 to 2024. In addition, growth in the construction industry and increase in construction activities (such as amusement parks, hospitals, and institutions) due to rapid urbanization, are projected to drive the demand for roofing underlying materials in the near future.
Key companies operating in the roofing underlying materials market include Owens Corning, CertainTeed Corporation, Atlas Roofing Corporation, Duro-Last Roofing, Inc., Carlisle, DuPont, IKO Industries Ltd., Braas Monier Building Group Services S.A., GAF, Firestone Building Products Company, and TAMKO Building Products, Inc.
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SOURCE Transparency Market Research
