Residential Roofing Market - Forecast(2022 - 2027)

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Residential Roofing Market is forecast to reach $11.8 billion by 2025, after growing at a CAGR of 4.5% during 2020-2025. The growth of the global residential roofing market is powered mainly by development of new, effective technologies in roofing materials, investment property, increased popularity of environmentally-friendly hygiene products, growing rubber roofs and increasing building renovations and renovation.

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Key Takeaways

The Asia-Pacific dominated the residential roofing market owing to the increase

adoption of residential roofing

application in newer industrial vertical and emerging economies such as China, India and others.

Increased disposable income and improved affordability have driven customers

spend more on renovation and improvement projects.

Residential Roofing Market Segment Analysis - By Roofing Type

Asphalt shingles are extensively used in residential roofing market. The expected increase in construction expenditure for residential buildings would spur growth. Over the past few years, demand for high-performance laminated asphalt shingles has risen sharply, fueled by growing interest in roofing materials built to withstand high winds, impacts and deterioration caused by exposure to the elements.

Residential Roofing Market Industry Outlook