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MarketResearch.biz announces publication of its most recently generated research report titled, “Middle East & Africa Roofing Materials Market by Type (Tile Roof, Metal Roof, Plastic Roof, and Asphalt Shingles), by Application (Residential and Non-residential) and by Country (GCC, Iran, South Africa, and Rest of Middle East & Africa) Forecast to 2028.”, which offers a holistic view of the roofing materials market through systematic segmentation that covers every aspect of the target market.The first five-year cumulative revenue (2019–2023) is projected to be more than US$ 2.1 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period. The Middle East & Africa roofing materials market is estimated to value at nearly US$ 4 Bn in 2019 and is expected to register a CAGR of 2.7%.
The Middle East & Africa Roofing Materials Market: Definition
Roofing material is an additional layer on the roof of a building. This layer of a roof comes with variations in design and sizes, depending upon type of materials, performance, economic reasons, aesthetic, and nature of supporting structure. These type of roofing materials are commercially available in various forms such as slate, thatch, polycarbonate, and tiles sheeting.
The Middle East & Africa Roofing Materials Market: Market Dynamics
Favorable government support and wide applicability of roofing materials in the residential and non-residential sector plays an important role in growth of the market. An increasing number of construction projects, increasing investments in affordable housing schemes and projects, and renovation and remodeling activities of old constructions are some of the factors expected to have a positive impact on the roofing materials market in Middle East & Africa.
In addition, rapid economic growth, rising urbanization, along with population migration from rural areas to cities is also anticipated to drive demand for affordable homes. In order to bridge the gap, government initiatives and undertaking to provide affordable homes has been ongoing, which is expected to boost construction activities in such countries. Moreover, rising investment in infrastructure and increasing re-modeling projects are among other factors supporting growth of the target market. Further, rising tourism activities, innovation in the construction sector, and rapidly increasing residential sector are some of the other factors expected to boost demand for the roofing materials in the near future.
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For instance, the EU Ecolabel and Green Public Procurement (GPP) initiatives are policy instruments designed to encourage the production and use of more environment-friendly products and services through the certification and specification of products or services. They form part of the European Commission’s action plan on Sustainable Consumption and Production and Sustainable Industrial Policy adopted on 16th July 2008.
Middle East & Africa Roofing Materials Market: Market Forecast
The comprehensive research report comprises a complete forecast of the Middle East & Africa roofing materials market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the Middle East & Africa roofing materials market is expected to register a CAGR of 2.7% during the forecast period.
The Middle East & Africa Roofing Materials Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segment includes a tile roof, metal roof, plastic roof, and asphalt shingles. The application segment includes residential and non-residential. Countries include GCC, Iran, South Africa, and Rest of Middle East & Africa.
By Type: The tile roof segment is estimated to account for the highest share contribution in terms of revenue in 2019, as compared to other segments, and is expected to register a CAGR of over 2.9% between 2019 and 2028
By Application: The residential segment in the Middle East & Africa roofing materials market is estimated to account for major revenue share in 2019, and is expected to register the highest CAGR of over 2.7%.
By Region: The market in GCC is expected to register the highest CAGR of over 2.7% in the Middle East & Africa roofing materials market. Increasing investments in the infrastructure sector by both, public and private stakeholders in emerging economies is expected to boost demand for roofing materials market substantially.
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The Middle East & Africa Roofing Materials Market: Competitive Analysis
The research report on the Middle East & Africa roofing materials market includes profiles of some of the major companies such as Compagnie de Saint-Gobain S.A., CSR Limited, Owens Corning, Boral Limited, DowDuPont Inc., Sika AG, Standard Industries Inc., Atlas Roofing Corporation, IKO Industries Ltd., and Tesla, Inc.
Roofing Materials Market: Middle East & Africa Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Middle East & Africa roofing materials market for 2018–2028.
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