Residential Low Slope Roofing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The residential low slope roofing market size has grown strongly in recent years. It will grow from $18.16 billion in 2023 to $19.7 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increase in demand for energy efficient roofing solutions, growth in residential construction activities, increase in focus on reducing cooling costs, increase in focus on improving indoor air quality, and growth in urbanizataion and infrastructure development.
The residential low slope roofing market size is expected to see strong growth in the next few years. It will grow to $27.44 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to rising construction activities in residential sectors, rising preference for low maintenance roofing systems, increasing focus on enhancing property value, rising consumer preference for cost effective roofing solutions, and increasing need for weather resistant roofing materials. Major trends in the forecast period include adoption of reflective roofing materials, integration of smart roofing technologies, implementation of ecofriendly roofing solutions, advancements in roof insulation materials, and adoption of green roof systems.
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Scope Of Residential Low Slope Roofing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Residential Low Slope Roofing Market Overview
Market Drivers –
The growing demand for solar panels is expected to propel the growth of the residential low-slope roofing market going forward. Solar panels are equipment that transforms sunlight into electricity using photovoltaic technology. The need for renewable energy sources, and supportive government regulations drives the increasing demand for solar panels. Residential low-slope roofs provide a relatively flat surface, allowing solar panels to be positioned and angled optimally to capture maximum sunlight. These low-slope roofs are safer and easier for workers to access, making installing solar panels less hazardous and more efficient. For instance, in August 2023, according to the Energy Information Administration (EIA), a US-based government agency, an estimated number of solar photovoltaic panel shipments in the United States increased by 10% in 2022 compared to the previous year, reaching a record of 31.7 million Kilowatt peak (kWp) shipped. Therefore, the growing demand for solar panels drives the residential low-slope roofing market.
Market Trends —
Major companies operating in the residential low-slope roofing market are developing ventilated synthetic roofing to enhance energy efficiency, lower cooling expenses, and improve roof longevity. Ventilated synthetic roofing is a roofing system made from synthetic materials designed to allow airflow beneath the roof. This ventilation helps regulate temperature and reduce moisture buildup, enhancing the roof’s durability and energy efficiency. For instance, in November 2022, CertainTeed, a US-based building materials manufacturing company, launched Roof Runner AIR, a breathable synthetic roof underlayment. Its multilayer design promotes quick drying and prevents moisture damage, while its unique layers enhance grip and reduce fastener pulls. This innovation improves roof durability and protection, making it a valuable addition to the residential low-slope roofing market. The underlayment is made from a synthetic polymer that offers superior water and slip resistance, ensuring safety and durability during installation.
The residential low slope roofing market covered in this report is segmented —
1) By Type: Ethylene Propylene Diene Monomer (EPDM) Roofing, Thermoplastic Olefin (TPO) Roofing, Polyvinyl Chloride (PVC) Roofing, Modified Bitumen Roofing, Other Types
2) By Roofing Material: Bituminous Roofing, Metal Roofing, Tile Roofing, Other Roofing Materials
3) By Application: Commercial, Residential, Industrial
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Regional Insights —
North America was the largest region in the residential low slope roofing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the residential low slope roofing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the residential low slope roofing market are BASF SE, Sika AG, Owens Corning, Kingspan Group plc, Carlisle Construction Materials LLC, Johns Manville Inc., BMI Group Limited, CertainTeed Corporation, CentiMark Corporation, GAF Materials Corporation, Atlas Roofing Corporation, IKO Industries Ltd, The Garland Company Inc., TAMKO Building Products LLC, ProVia LLC, American Hydrotech Inc., GenFlex Roofing Systems LLC, Polyglass USA Inc, Malarkey Roofing Products Co., ATAS International Inc, ARAC Roof It Forward Inc., Hopkins Roofing LLC, Kemper System Inc., Mule-Hide Products Co Inc., Strategic Building Products LLC< /b>
Table of Contents
1. Executive Summary
2. Residential Low Slope Roofing Market Report Structure
3. Residential Low Slope Roofing Market Trends And Strategies
4. Residential Low Slope Roofing Market — Macro Economic Scenario
5. Residential Low Slope Roofing Market Size And Growth
…..
27. Residential Low Slope Roofing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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