Market Research Report
Roofing Underlayment Market Size By Product, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Landscape & Forecast, 2021 - 2027
|Roofing Underlayment Market Size By Product, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend, Competitive Landscape & Forecast, 2021 - 2027|
Published: November 3, 2021
Global Market Insights Inc.
Content info: 190 Pages
Delivery time: 2-3 business days
The roofing underlayment market is estimated to witness notable expansion by 2027 driven by prominent product demand in key regions across the globe. Additionally, mounting awareness pertaining to benefits of roofing underlayment among consumers is slated to further support market growth through the forecast period.
Roof underlayment offers an even, smooth surface on which shingles or other roofing materials can be layered easily, lowering the chances of ice and wind damage to the roof. Notably, rising product utilization in regions with harsh weather conditions has bolstered product demand.
Furthermore, industry players have been employing various strategic initiatives to improve their market standing, which has been favorable for the competitive landscape of the global roofing underlayment market. For instance, in September 2021, GAF, a leading manufacturer of roofing shingles and materials in North America and a Standard Industries subsidiary, inked a definitive agreement to acquire FT Synthetics, a synthetic underlayment provider for the steep slope roofing industry based in British Columbia.
Under the deal, GAF agreed to invest in scaling operations and supporting the sustained growth of FT Synthetics while enabling the continued delivery of high-quality products and services to customers. In addition, companies are also focusing on product innovation and development to extend their customer reach, thereby enhancing roofing underlayment market dynamics.
To cite an instance, in November 2021, Boral Roofing, a key firm in the roofing underlayment space, launched its Sol-R-Skin Blue roofing underlayment. The novel product is a thermal insulation and reflective solution that offers protections against elements while boosting energy-saving capacities. It has been designed to be suitable for nearly all steep-sloped roofing materials as well as any climate and temperature.
The Sol-R-Skin Blue, which is UV-resistant and has an anti-glare coating in cool blue, is a combination of two energy-efficient materials. As a result, increasing availability of novel and innovative roofing underlayment solutions in the market has positively influenced the product landscape in recent years.
For comprehensive assessment, the roofing underlayment market has been segmented in terms of product, application, and region. On the regional spectrum, the Middle East & Africa roofing underlayment industry accounted for a sizable portion of the global market in terms of revenue in 2020 and is estimated to grow at a significant pace over 2021-2027.
Surging demand for residential complexes, commercial spaces, and retail & hospitality facilities is expected to boost the growth of the infrastructure industry in the Middle East, which is set to fuel regional market expansion in the coming years. Moreover, increased spending on infrastructure projects is also speculated to foster MEA roofing underlayment market outlook over the projected period.