In addition, the increasing regulatory interest towards construction of energy-efficient buildings as well as the rising adoption of eco-friendly products would positively impel the product demand over the forthcoming timespan.
Following is a brief overview of three major trends influencing the roofing underlayment market growth:
Expanding commercial construction sector
With respect to application, the commercial segment is estimated to hold an overall market share of about 24% by the end of the forecast time period. Commercial construction activities include roofing underlayment of warehouses and manufacturing plants. Roofing underlayment safeguards the roofs from different natural hazards, which keeps the building safe.
Moreover, globally increasing commercial construction activities are expected to proliferate the segment size further. Citing an instance, the expanding e-commerce industry across the globe is propelling the warehouse construction sector, which would have a positive impact on roofing underlayment demand over the coming years.
Rising demand for non-bitumen synthetic products
With regards to product, surging demand for non-bitumen synthetic underlayment is expected to fuel the industry growth over the coming years. The growth is ascribed to higher consumer preference for non-bitumen synthetic products in comparison to traditional or conventional underlayment products.
Non-bitumen synthetic underlayment contains polyethylene or polypropylene. These products are lightweight but offer high strength while subsequently being highly resistant to fungal growth. They also have a wrinkle-free nature that does not let it absorb moisture. Based on these factors, the segment is projected to register gains of 5.1% by the end of the forecast timeframe.
Increasing construction coupled with strict regulations across Europe
Growing construction activities and stringent regulations about the energy efficiency of buildings should bolster the product demand in Europe. In 2019, Europe roofing underlayment market valued more than $7 billion. Europe has several building regulations and codes to restrict VOC emissions as well as the energy consumed by residential and commercial buildings.
Considering the favorable industry landscape, major industry players are heavily investing towards business growth strategies such as acquisitions. Taking February 2020 for instance, Atlas Roofing Corporation, a renowned roofing underlayment company, reportedly announced that it acquired StarRFoam, a leading producer of polystyrene solutions, with manufacturing facilities in Arizona and Texas.
The competitive landscape of the global roofing underlayment market is inclusive of players such as Braas Monier Building Group, DowDuPont, and Atlas Roofing among others.
Chapter 4. Roofing Underlayment Market, By Product
4.1. Global roofing underlayment market share by product, 2019 & 2026
4.2. Asphalt-saturated felt
4.2.1. Market estimates and forecast, 2016 – 2026
4.2.2. Market estimates and forecast by region, 2016 – 2026
4.3. Rubberized asphalt
4.3.1. Market estimates and forecast, 2016 – 2026
4.3.2. Market estimates and forecast by region, 2016 – 2026
4.4. Non-bitumen synthetic
4.4.1. Market estimates and forecast, 2016 – 2026
4.4.2. Market estimates and forecast by region, 2016 – 2026
Chapter 5. Roofing Underlayment Market, By Application
5.1. Roofing underlayment market share by application, 2019 & 2026
5.2. Residential construction
5.2.1. Market estimates and forecast, 2016 – 2026
5.2.2. Market estimates and forecast by region, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.3.2. Market estimates and forecast by region, 2016 – 2026
5.4. Non-residential construction
5.4.1. Market estimates and forecast, 2016 – 2026
5.4.2. Market estimates and forecast by region, 2016 – 2026
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