Roofing Underlayment Market size worth around $43.9 Bn by 2026

Roofing Underlayment Market revenue will likely reach USD 43.9 billion by 2026; according to a new research report by Global Market Insights, Inc.
 

Increasing awareness for ecofriendly buildings to induce product demand

In the era of environment sustainability, economies all across the globe are shifting towards ecofriendly building materials, as buildings are the major source of greenhouse gas emissions. In this ongoing wave of ecofriendly products, roofing underlayment have been in top of mind to many builders.

 

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Synthetic underlayment is becoming a choice of many builders owing to its less carbon footprints and energy efficient design. Since these underlayment does not comprise of TAR, it is considered to be ecofriendly as compared to traditional underlayment. Many economies has poses strict environmental regulations and building codes regarding energy efficiency of buildings. for instance, U.S has launched a Energy Independence and Security Act which requires all the existing buildings to reduce energy consumption by 30% till 2015, compared with 2003 levels.
 

Roofing Underlayment Market Application Insights

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Global roofing underlayment market value is expected to experience a declining demand trend in 2020 due to ongoing global COVID 19 pandemic. Product demand is quite dampened by ongoing COVID 19 pandemic all across the globe as a result of restrictions on construction activities in many parts of world. Construction industry is expected to follow a downturn due to disruptions in supply chain, shortages of materials as well as subcontractors followed by termination of long term contracts to reduce expenses. Furthermore, reduce cash flow among developers is another reason that is reducing investments in construction industry. decreasing construction activities and reduced purchasing power of consumers are the few reasons resulting in declining products sales worldwide.
 

Browse key industry insights spread across 195 pages with 131 market data tables & 10 figures & charts from the report, “Roofing Underlayment Market Size By Product (Asphalt-Saturated Felt, Rubberized Asphalt, Non-Bitumen Synthetic), By Application (Residential Construction, Commercial, Non-Residential Construction), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/roofing-underlay-market
 

Rubberized asphalt having a significant share in global roofing underlayment market

Rubberized asphalt will hold consumption share of 28% in the global market in 2026. Rubberized asphalt underlayment is increasingly preferred by homeowners who wants quick installation process. This form of underlayment is highly effective for preventing water damage and is more preferable for both residential and commercial roofing systems located in humid areas. Another roofing underlayment is non-bitumen synthetic which is preferable for areas that experience extreme temperature. It is made from polypropylene or polyethylene fibers and possess light weight features and high resistance to mold growth which reduce the risk of premature roof failure.
 

Product demand from residential construction to gain high momentum in coming years

Strong inclination of 5% CAGR is projected to be observed in the residential construction sector in the due to low interest rates and reduced mortgage requirements in countries such as U.S. Additionally, improving government policies towards sustainable construction will be another key factor to improve the overall roofing underlayment market growth as roofs constitute a major chunk of an urban community’s surface area. Therefore, the homeowners, designers, manufacturers and contractors are finding solutions to maximize energy performance and reduce energy demand and consumption.
 

U.S. dominates North American industry

U.S. roofing underlayment market share shall exceed USD 9.2 billion in 2026. Storm related re-roofing activity grew in the U.S. due to severe weather events and caused widespread roof damage in the country in the past few years is one of the reason behind increasing product sales in the country. In 2018, hurricane season brought two major storms to continental U.S. while the number of hurricanes in 2017 were six. These storm activities resulted in damaging the roofs and overall structure of the buildings.
 

Frequent snowfalls occur in the U.S. which requires a better roofing to prevents the ice and water penetration, provide moisture resistant, air barrier, etc. Therefore, there is strong demand for roofing materials with an ability to adapt to the severe environmental adversary. To avoid damage to the roof, underlayment is used which acts as a waterproof barrier and results in protecting the roofing structure. The major reasons for applying roofing underlayment is that it provides water resistance and provides secondary protection by providing shield from wind driven rain which results in preventing water from reaching the deck.
 

Mergers and acquisition to increase competition in the market

Global roofing underlayment market share is high fragmented due to the presence of various established players in the industry. industry players are highly focused towards mergers and acquisition activities to tap a larger market share. For instance, In May 2018, GCP Applied Technologies announced the acquisition of U.K.-based R.I.W. Limited (“R.I.W.”) which is a waterproofing products supplier. This acquisition enable the company to expand its geographical presence as well as strengthen its product portfolio.
 

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