Reportlinker has released a new market research report, titled ¡§World Roofing Market¡¨. Accordingly, global demand for roofing products will increase by 3.7% yearly up to 2016 in comparison to the slow growth during 2006ƒ{2011.
Revenues are expected to touch $108 billion in 2016 with rising roofing prices. Increased building activities will drive the demand for roofing products and services in developed economies such as the U.S. Increasing advancements in developing economies such as the Asia-Pacific region will also add to the growing roofing demands.
The countries of the U.S. and China will together attribute to 60% of the world gain in roofing need in square meters up to 2016. China, the biggest market for roofing products in 2011, will continue to develop and account for 30% of the global market gains. The U.S., which faced a slump in housing construction beginning in 2006, will bounce back considerably but the U.S. roofing market in 2016 will be somewhat lower than the 2006 market. Market gains will be better for developing economies than for developed ones.
The combination of roofing products used is different for different countries. But bituminous and tile (concrete and clay) products together account for 70% of the market in terms of area. Bituminous products will project the quickest growth up to 2016 due to the fast recovering U.S. market, especially the use of asphalt shingle roofing. Concrete roofing products will see a greater demand in regions like the Asia-Pacific.
Roofing demands can be residential and non-residential, which can be again divided into new buildings and reconstruction and repairs. In developed countries, the recouping of the housing construction market will propel demand for roofing up to 2016. Growth will be a little sluggish in non-residential sectors.
Source: http://www.reportlinker.com/