Growing Construction Activity in Developing Countries Drives the Global Roofing and Insulation Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 09, 2013 -- Follow us on LinkedIn – Economic growth and demand for roofing and insulation products typically move in parallel with GDP growth and the level of construction activity. Strong economic growth, industrialization, and urbanization results in increased infrastructure and housing needs thus translating into improved construction activities in all sectors including residential, commercial and infrastructure. The construction industry therefore remains a vital element in every country’s economy. Key factors that influence the performance of the construction industry include bank lending rates, level of inflation, role of the government and to a lesser degree, exchange rate fluctuations. Strong construction activity in developing markets such as Asia-Pacific, Latin America and Middle East is currently helping drive significant opportunities for roofing and insulation products market.
In addition to new constructions, building renovations are also expected to drive demand for Roofing and Insulation products in the coming years. Stringent government regulations calling for mandatory renovations or reconstructions of aging buildings, both residential and commercial, will drive demand for re-roofing. Volatile economic outlook in the United States and Europe is also compelling homeowners in these countries to cancel or postpone their new building constructions or purchase plans and opt for renovations and retrofits of their existing homes, thereby driving focus on reroofing. The need to enhance energy efficiency of existing buildings will continue to encourage building owners to use insulation material, thereby driving demand for insulation products.
Roofing and Insulation products have for long remained functionality driven products. Technological advancements remain critical for product success in the marketplace.
Innovation in product development often revolves around efforts aimed at improving performance characteristics, reducing costs, and widening the range of end-uses of the product. Major development efforts are aimed at improving strength, durability and energy efficiency of residential and commercial constructions. Currently, eco-friendly products are attracting strong R&D investments. Over the years, inter-segment competition has warmed-up with development of new products. In the roofing industry the rise of plastics as cheaper and better alternatives to metals and wood have been driving significant competition among manufacturers.
As stated by the new market research report on Roofing and Insulation, Asia-Pacific represents the largest as well as the fastest growing market worldwide. Growth in the region is led by strong economic growth, growing population, urbanization, and heavy government investments in infrastructure development. Roofing Products represents the largest product segment, while Insulation is forecast to emerge as the fastest growing product market, expanding at a CAGR of 4.9% over the analysis period. The growing need to conserve energy and rising energy costs are encouraging investments in energy efficient constructions thus boosting market prospects for insulation products.
Major players in the market include American Hydrotech Inc., Atlas Roofing Corporation, BASF, GAF, Icopal A/S, Johns Manville, Knauf Insulation, MONIER Group Services GmbH, Owens Corning, Royal Group Inc., Saint-Gobain Corporation, CertainTeed Corporation, Sika Sarnafil Inc., SIG Plc., The Garland Company Inc., and The Rockwool Group, among others.
The research report titled “Roofing and Insulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Roofing and Insulation in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East and Latin America. Product segments analyzed in the Roofing market include Asphalt Shingles, Metal, Elastomeric, Roofing Tile, Modified Bitumen, Plastic, and Others. Product segments analyzed in the Insulation market include Foamed Plastics, Fiberglass, Mineral Wool and Others.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Roofing_and_Insulation_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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