According to the research report titled ‘Roofing Materials Market Size By Material (Bituminous, Concrete & Clay Tiles, Metal, Elastomer, Plastics), By Type Of Construction (New Construction, Reroofing), By Application (Residential, Non Residential), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027’, available with Market Study Report, global roofing materials market is anticipated to grow considerably during the forecast period 2021-2027.
 

As per the findings of the report, increasing number of non-residential construction activities, and growing trend of home renovation and reroofing are spurring global roofing materials market growth. Moreover, rising adoption of plastic-based materials for roofing is enhancing the industry remuneration.
 

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Notably, the materials utilized for roofing is dependent on the location, roof shape and climate, and commercial or residential setting. Plastic liquid coatings, slate and cement, plastic and glass, metal, clay, asphalt, and wood are the most commonly used materials for roofing.
 

Based on material, plastic segment is set to turn in over USD 8 billion revenue by the end of 2027. Multiple benefits like lightweight, high weather resistance, and easy installation are favoring the product adoption. Plastic-based roofs are generally approved for usage in outbuildings, garages, conservatories, and greenhouses.
 

Moving on to the application scope of global roofing materials industry, residential segment boasted a value of USD 70 billion in 2020 and is anticipated to grow considerably in the upcoming years. Rapidly growing residential sector in emerging economies together with rising customer inclination towards home renovation are favoring the segmental expansion.
 

With respect to type of construction, reroofing segment is projected to garner a CAGR of 4% through 2027, largely driven by demand in North America and Europe in view of storms and harsh weather conditions.
 

On the geographical front, Europe market is slated to register 3.7% CAGR over the forecast duration due to escalating demand for reroofing and booming non-residential construction sector in the region.
 

Prominent players influencing the overall roofing material industry trends are North American Roofing, Icopal Holding ApS, Etex Group, Fletcher Building Ltd., Boral Ltd., Carlisle Companies Inc., GAF Materials Corp., Tamko Building Products LLC, IKO Industries Ltd., Braas Monier Building Group, Johns Manville, Atlas Roofing Corp., CertainTeed Corp., and Owens Corning.