North America Building & Construction Sheets Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

North America Building & Construction Sheets Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The North American buildings and construction sheets market is anticipated to record a CAGR of approximately 4% during the forecast period 2022-2027.

The COVID-19 pandemic caused immense disruptions in construction works across North America. Manufacturing companies faced a range of challenges owing to the shortage of raw materials. Many small companies operate only in a limited geographic range, while larger producers have many production facilities spread across United States.

Building and construction sheets are meant to provide protection, insulation, cladding, and a variety of other beneficial features at a low cost. Roofing materials include corrugated sheets, polycarbonate sheets, and metal sheets. Governments in United States and Canada are expected to increase construction spending to satisfy expanding industrial and public infrastructure needs, which is expected to drive demand for products in construction applications.

Construction sheets are expected to witness high penetration in roofing applications in United States due to the increasing demand for polymer and metal sheets in industrial and residential applications. Additionally, the demand for metal sheets in HVAC applications to improve overall ventilation abilities is expected to drive the market.

The value of public residential construction spending in United States between 2016 and 2021 varied over time. In 2019, the public sector spent approximately USD 6.6 billion on residential construction projects. Just the year after, the value increased drastically, reaching almost USD 9.15 billion. In 2021, the total new residential construction put in place in United States amounted to over USD 10.70 billion. Due to the increase in the construction of residential property roofing, the industry has grown in the last few years.

Canadian construction was booming in both residential and non-residential construction in 2021. The government announced a plan to invest CAD 2.7 billion (USD 2.1 billion) to build or repair 1.4 million affordable housing units over the next four years and reduce greenhouse gas emissions between 40-45% of the 2005 levels before the end of this decade.

To support affordable housing construction across the country, Canadian financial services provider BMO Financial Group announced a commitment of CAD 12 billion (USD 9.4 billion) to support affordable housing projects across Canada until 2030. Additionally, the long-term output in the Canadian construction industry will also be supported by the government's plan (announced in February 2021) to invest CAD 14.9 billion (USD 12 billion) in public transport projects over the next eight years.

The North American buildings and construction sheets market is highly fragmented, with no player holding a significant share to influence the market. Some of the key players in the North American market include Owens Corning Corporation, Certainteed LLC, Johns Manville Corporation, United States Gypsum Company, and Atlas Roofing Corporation.

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