The roofing systems most people in the home are quite different from the ones used on commercial buildings. The ones we are talking about are flat roofs. They may be as high as three stories, however usually less than that. Many countries, both developed and emerging economies, have witnessed massive increases in disposable income. As a result of this, construction and infrastructure activities have surged significantly worldwide. As per the Organisation for Economic Co-operation and Development (OECD), the gross disposable income of Germany reached around US$ 43,904 per capita in 2019, increasing from US$ 35,492 per capita in 2015. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022. This, in turn, has increased the demand for roofing systems, which could stimulate growth of the roofing systems market.
Over the years, the roofing technology has improved significantly with technological advancements. Consumers are increasingly preferring eco-friendly roofing materials and drones for a roof inspection, which in turn, has increased the demand for roofing systems. Besides, the non-residential construction sector has witnessed massive expansion in the recent past, which could further augment growth of the roofing market in the near future. Recently, in April 2021, Gaco launched GacoFlex A47 acrylic, UA60 aliphatic urethane coatings, and GacoFlex U91 aromatic urethane for innovative roof coatings.
A residential roofing system is quite different from a commercial one. In a residential roofing system, the materials used are all considered for the sole purpose of providing maximum protection to the roofing. This means that materials such as asphalt shingles, wood shakes, slate tiles, or concrete tiles are never used as long as they are properly installed by a professional roofer. When it comes to regional impact, Asia Pacific seems to be gaining significant traction in the roofing systems market. This is due to rapid urbanization coupled with robust expansion of infrastructure investments across emerging economies such as India and China. On the contrary, Europe is exhibiting a positive outlook since housing development activities have expanded over the years.
Despite these advantageous factors, certain aspects of the market continue to hinder future development. For instance, the installation cost of roofing systems is significantly high. Besides, it requires routine maintenance and repair operations, which incur additional costs. Hence, such factors can potentially impede growth of the roofing systems market in the near future.
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