Flat Roofing Market: Overview
Flat roof is a low-slope roof that is widely used in residential and commercial buildings. It is strong and flexible, and can last for 30 years. Easy to install than pitched roof, flat roof is manufactured either from concrete or timber.
Flat Roofing Market: Key Segments
Based on material, the global flat roofing market can be segmented into built-up roof (BUR), modified bitumen, rubber membrane, thermoplastic polyolefin (TPO), polyvinyl chloride (PVC), cold applied liquid membrane, and metal roof. In terms of application, the flat roofing market can be divided into residential, commercial, and industrial. BUR is a traditional roof made by utilizing gravel and hot tar. It is one of the cheapest roofs available in the flat roofing market which is ideal for deck applications.. It possesses certain characteristics such as excellent fire & wind resistance. BUR is quite heavy and difficult to install. On the other hand, modified bitumen is easy to install and contains light-colored mineral surface, which helps reflect much of the heat, thereby lowering energy consumption. Rubber membrane is manufactured by using ethylene propylene diene monomer (EPDM). These membranes are easy to install and possess excellent properties such as high resistant to tears and scuffs, waterproof, and lightness of weight. EPDM membranes are environmentally-friendly, as they are manufactured from recycled rubber. They insulate the roof against climatic conditions such as wind, water, and fire.
TPO is one of the green construction materials; it does not utilize plasticizer and offers excellent reflection properties that help in minimizing energy usage. TPO roofs provide resistance against UV radiation and are available in gray and white colors. PVC roofs are light in color and can be manufactured by reinforcing PVC with non-woven fiberglass or polyester. They contain plasticizers, which make them brittle during their lifecycle. Cold applied liquid membrane is proving an ideal choice of roofing, as it does not require heat sources during installation and provides excellent waterproofing during adverse climatic conditions. Metal roof is also gaining momentum in the construction industry due to its features such as high durability, recyclability, and insulation.
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Flat Roofing Market: Drivers & Restraints
Rise in construction activities in developing countries and sub-regions such as China, India, ASEAN, Mexico, and GCC and increase in re-roofing activities in developed economies such as the U.S. and countries in Europe are the major drivers of the flat roofing market. Additionally, maintenance of industrial buildings such as warehouses, garages, and distribution centers is also boosting the market. Fluctuation in prices of petroleum-derived raw materials such as resins and gasoline and shortage of skilled labor in installing roofs are anticipated to restrain the flat roofing market during the forecast period. However, rise in demand for single-ply roofs and its beneficial properties such as easy installation, lower cost, and wide range of colors are expected to provide lucrative opportunities to manufacturers.
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Flat Roofing Market: Regional Outlook
In terms of region, the flat roofing market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is the leading consumer of flat roofing, followed by North America, and Europe. Sales of flat roofing market are anticipated to increase in China, India, and ASEAN in Asia Pacific due to the expansion in the construction industry. Rise in demand for commercial buildings and industrial warehouses due to the increase in urbanization and industrialization is estimated to propel the flat roofing market in the region. Additionally, favorable government policies with respect to residential housing and FDI investment in the construction sector are projected to provide lucrative opportunities to roofing manufacturers. North America and Europe expected to offer immense to roofing manufacturers operating in the re-roofing sector. The flat roofing market in Latin America and Middle East & Africa is expanding at a moderate pace. It is likely to provide lucrative opportunities to roofing manufacturers due to the improvement in economy and expansion in the construction industry in these regions.
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Flat Roofing Market: Key Players
Key players operating in the global flat roofing market include IKO Polymeric, Bauder Ltd, Sika AG, and Alliance Roofing.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.