Market Research Future (MRFR) has announced a new release on the global roofing materials market. The report looks into the type, application, and regional segmentation of the global roofing materials market and presents comprehensive forecasts for the 2017-2023 forecast period. According to the report, the global roofing materials market is expected to grow at a stable 3% CAGR over the forecast period.
Roofing materials play a valuable role in construction, as they impart stability and aesthetic value to the construction. Roofing materials are crucial in ensuring the long-term structural stability of the final construction and play a vital role in preventing the entry of rainwater, ice, and other environmental contaminants. Roofing materials have also taken on a different role in today’s environment-centric age, with several roofing materials being used in energy generation and energy conservation efforts. These active roofing materials have imparted the global roofing materials market a new dimension and are likely to be the heralds of a new age in the global roofing materials market over the forecast period.
Key players in the global roofing materials market include Atlas Roofing Corporation, GAF Materials Corporation, BraasMonier Building Group S.A., Owens Corning Corporation, TAMKO Building Products Inc., Etex, CertainTeed Corporation, Fletcher Building Limited, North American Roofing, and Icopal Holding Aps. Competitive strategies in the global roofing materials market are likely to include the innovation of modern roofing materials that contribute to reducing the energy consumption of the structure and help conserve energy within the building. These roofing materials have come in vogue due to their environmental viability and are likely to remain popular over the coming years.
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The global castor wax market has been broadly segmented on the basis of applications, end use industries, and region. Based on applications the market is segmented into personal care, healthcare, lubricants, grease, polishing agent, and others. Wherein lubricants and grease dominated the market till 2016, particularly in Asia Pacific. In future, during the forecast period, personal care and healthcare are expected to drive the market forward. Additionally, characteristic features of castor wax such as emulsifier, plasticizer, dispersing agent make them the most preferred ingredient in cosmetics personal care industry and paints industry as well. The understanding of masses regarding the vast and ever increasing uses of castor wax is growing swiftly which help boost its demand during forecast period. Strict regulations by developed countries against the use of synthetic waxes in various application such as personal care and food coating would see the rise in the global market of castor wax.
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Regionally, the global roofing materials market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World. APAC is the major growing market for roofing materials and is likely to play a leading role in the growth and development of the global roofing materials market over the forecast period. The rapid urbanization in APAC countries such as India, China, Malaysia, Thailand, Indonesia, Korea, and Japan is likely to be a major factor in the growth of the roofing materials market in APAC over the forecast period.
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