Roofing Materials Market is Estimated to Witness High Growth Owing to Opportunity for growth in Residential Construction
Roofing materials are used for waterproofing and protecting buildings from external elements like rain, storms, snow etc. They provide shelter and protection to homes, commercial buildings and infrastructure from harsh weather conditions. The global roofing materials market is growing due increased infrastructural activities across both residential as well as non-residential sectors. Materials like asphalt shingles, concrete & clay tiles, composites and membranes offer durability and cost-effectiveness. The global roofing materials market is estimated to be valued at US$ 170.03 billion in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the global roofing materials market is rising infrastructural developments across both developed and developing regions. Governments across various countries are investing hea...