As per the research report titled ‘North America Roofing Materials Market Forecast 2027 By Type Of Construction, By Material, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America roofing materials market is projected to be valued at USD 40 billion by 2027.

Rising number of reroofing projects undertaken in several residential settings across the U.S., utilization of different types of roofing materials, improving disposable incomes, easy accessibility of loans, and availability of cost-effective products are bestowing a positive impact on the growth of North America roofing materials market.

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For the record, clay & concrete tiles, elastomers, plastic, metals, and bituminous are commonly utilized roofing materials for overlaying the outer surface of rooftops in domestic, industrial, and commercial applications. They offer benefits like elevated appearance, waterproofing, and effective temperature control.

By material type, the market segmentation consists of plastics, metal, bituminous, elastomer, concrete & clay tile, and others. In 2020, bituminous segment accounted for 75% industry share and is expected to garner significant traction through 2027, owing to the high preference for asphalt shingles for vital advantages including higher durability, captivating aesthetics, a wide selection of products, strong resistance to wind and fire, and the capability to withstand more pressure.

Based on the type of construction, North America roofing materials industry is segmented into reroofing, and new construction. Herein, the new construction type is estimated to witness a significant growth of 4.5% CAGR during the forecast duration. It's due to the rapid surge in commercial and residential constructions in both Canada and the U.S.

Analysing by application scope, the market segmentation comprises residential, and non-residential. Among these, non-residential application is poised to account for USD 16 billion by 2027, owing to the remarkable surge in the construction of non-residential infrastructures, and increased utilization of roofing materials in renovation and refurbishment ventures.

Moving on to regional spectrum, the U.S. roofing materials industry is estimated to record a y-o-y growth rate of 4.5% through 2027. The escalating number of large-scale reroofing & construction projects, alongside investments in development of warehouse for enhancing supply chain network are positively swaying the regional industry dynamics.  

Speaking of the competitive outlook, companies such as North American Roofing, ETEX, Boral Limited, GAF Materials Corporation, IKO Industries Ltd., Johns Manville, CertainTeed, Owens Corning, Atlas Roofing Corporation, Braas Monier Building Group, TAMKO Building Products LLC, Carlisle Companies Incorporated, Fletcher Building Limited, and Icopal Holding ApS are prominently influencing North America roofing materials market trends.