The North American commercial and residential roofing market is huge. About forty five firms are taking part actively in the market. The market noticed reduced demand during the fiscal downturn of 2008-2009. It has been expanding after 2010. Applications in roof coatings are based on roof substrates and different kinds of roof coatings present in the market. These include thermal polyolefins, modified bitumen, ethylene propylene diene monomer, polyvinyl chloride and many more.
The North American commercial and residential roofing market can be fragmented on the basis of bituminous, polymers, polymer modified and reflective. Few of the components that drive further demand for the North American commercial and residential roofing market are the implementation of green roof technologies and escalating expenditures for air conditioning and heating systems. The market was projected to be around USD 750 million in 2011.
It was anticipated to attain about USD 984 million by 2016. The North American commercial and residential roofing market is predicted to expand at about 5.5 percent CAGR in the future. The bituminous sector was projected at about USD 135 million in 2011. It is expected to grow at around 2.5 percent CAGR and reach about USD 153 million in 2016. The sector of polymers is estimated to climb at about 4 percent CAGR in the years lying ahead.
Growing demand for cool roof technologies and government policies also contribute revenue to the market. Escalating advancements to attain sustainability whilst supervising the costs of products are predicted to be hindrances for the North American commercial and residential roofing market.
Information Source: Radiant Insights