Self-Adhered Roofing Membranes Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Self-Adhered Roofing Membranes Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The market for self-adhered roofing membranes is expected to register a CAGR of around 6% during the forecast period (2022-2027).

The COVID-19 pandemic had a negative impact on the market. However, with the resumption of major construction activities, the market has now reached pre-pandemic levels, and it is expected to grow steadily in the future.

Increasing private construction expenditure in the North American region acts as a driver to the market studied. On the other hand, the low performance of self-adhered roofing membranes in cold weather conditions is expected to act as a restraint.

North America accounted for the highest market share, and it is likely to dominate the market during the forecast period. Asia-Pacific is likely to witness the fastest growth rate during the same period.

The residential construction application is expected to account for the highest market share during the forecast period.

With the rapid technological advancements, the construction infrastructure developments and maintenance activities are increasing, resulting in the replacement of old materials with new ones.

Over the last few years, the demand for new homes in United States has been increasing consistently, owing to the growing population and rising consumer incomes in the country.

The construction of new private residential buildings in the country has been increasing over the past eight years.

In Canada, various government projects, including the Affordable Housing Initiative (AHI), are set to hugely support the expansion of the sector, thereby driving the market.

Due to all these factors, the demand for self-adhered roofing membranes in residential construction is expected to increase during the forecast period.

The North American region dominated the market share. With the growing construction industry and usage of lightweight and faster construction techniques in countries like United States, Canada, and Mexico, the demand for self-adhered roofing membranes is increasing in the region.

Residential construction in United States is projected to have a growth of almost 6%, as there is an increase in single-family housing and multiple-family housing in the country.

Almost 80% of the individuals prefer single-family housing as an end goal, and almost 70% of people are executing this, due to which the number of houses being constructed every year is increasing.

Non-residential construction in the country is expected to observe tremendous growth with President Biden's trillion-dollar green construction plan.

The construction industry in Mexico reached a value of approximately USD 93 billion in 2018. The industry's value was forecasted to increase annually until 2021, amounting to almostUSD 121 billion that year.

Hence, the North American region is likely to dominate the market during the forecast period.

The self-adhered roofing membranes market is partially consolidated, as the market share is divided among a few key companies. Some of the major players (in no particular order) in the market include Sika AG, GAF, Johns Manville, Firestone Building Products Company LLC, and Owens Corning.

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