According to 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 touted to cross a valuation of USD 40 billion by the year 2027.
 

Surging renovation and refurbishments activities in the residential sector due to factors like rising per capita income, easy availability of loans, and widespread accessibility to economical products is fueling the growth of roofing materials market in North America.

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Notably, several varieties of roofing materials like bituminous, elastomers, clay & concrete tiles, metals, and plastics are utilized to safeguard the surface of roofs of residential, commercial, and industrial buildings. Efficient temperature control, waterproofing, and improved aesthetics are the major benefits encouraging the product adoption.

Considering the application scope, non-residential segment is touted to capture market shares worth USD 16 billion by 2027. This can be ascribed to the rise in construction of buildings like hospitals, colleges, hospitals, offices, and hotels. Moreover, tech giants like Apple, Google, and Amazon are investing in expanding their offices.

Based on type of construction, North America roofing materials market size from new constructions is anticipated to progress at 4.5% CAGR through 2027. The new residential and commercial projects are increasing at a strong rate throughout Canada and the U.S. Moreover, access to roofing materials at multiple price points is adding to the segmental expansion.

Speaking of material, bituminous segmented accounted for 75% of the industry share in 2020. Asphalt shingles are the prominent bituminous materials across the region. High durability, product variety, aesthetic appeal, and strong heat & wind resistance are the characteristics enhancing the product demand.

In terms of geographical scope, the U.S. market is expected to register 4.5% CAGR through 2027, creditable to increasing number of large-scale construction and reroofing projects in the country. In particular, private-sector companies are heavily investing in the establishment of large warehouses and distribution logistics centers.

Major players in North America roofing materials industry are North American Roofing Services Inc., 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, and Johns Manville among others.