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Steep Slope Roofing Materials Market
A steep slope roofing is defined as roofing that are suitable for roofs possessing slopes of 3:12 or greater. This translates into for every 12 horizontal inches, the rise of the roof is 3 inches or more. Steep slope roofs are preferred by both the customers and architects since they add aesthetic appeal to the building and even offer a long-term performance.
In other words, steep slope roofs are attractive and even affordable. The steep slope roofs possess the characteristics of greater aesthetic appeal, long service life, resistance to wind and low maintenance requirements. Also, they can be transformed into wide variety of shapes, giving a vast scope to creativity and new design techniques. In addition, another main advantage of building a steep slope roof is that they accelerate the water run-off rate, due to which water doesn’t tend to accumulate on the roof and the build-up of debris and mold is avoided.
The demand of steep slope roofing materials is tied to the growth in the construction industry. Increasing disposable income also plays a major part in the growth of steep slope roofing materials market. Besides, macro-economic factors like a growing population and improvement in the overall economy growth rate also play their part in the growth of this market. However, an economic slowdown in some regions of the world has adversely affected the growth of the construction industry, thereby adversely impacting the demand for steep slope roofing materials.
According to the assessment of Persistence Market Research, the global steep slope roofing materials market is forecasted to reach a figure of about US$ 14,630 Mn in 2022 and is poised to exhibit a sluggish CAGR in the period of assessment.
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The market in North America is set to dominate the global steep slope roofing materials market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America steep slope roofing materials market is the most attractive market, growing at a sluggish CAGR over the forecast period.
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Get a Customized VersionAccording to the projections of Persistence Market Research, the asphalt shingle segment is expected to reach a value of about US$ 9,200 Mn in the year 2022. This signifies a sluggish CAGR during the forecast period of 2017-2022. The asphalt shingle segment is estimated to account for nearly two-thirds of the revenue share of the material type segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
According to the assessment of Persistence Market Research, the new construction segment is poised to touch a figure of about US$ 3,800 Mn in the year 2022. This signifies a CAGR of nearly 3% during the assessment period from 2017 till the year 2022. The new construction segment is estimated to account for more than one-fourth of the revenue share of the end-market segment by the end of the year 2017 and is projected to lose market share by 2022 over 2017.
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The report also profiles companies that are expected to remain active in the expansion of global steep slope roofing materials market through 2022, which include Owens Corning, CertainTeed Corporation, Henry Company LLC, Malarkey Roofing Products, IKO Industries, Ltd., Siplast, Inc., TAMKO Building Products, Inc., Tarco, Inc., Polyglass U.S.A., Inc. and Atlas Roofing Corporation.
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