The global Roofing Underlayment Market is set to experience substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period, reaching a market value of US$8.9 billion by 2028.
Market Overview
Roofing underlayment serves as a crucial component in roofing construction, acting as a protective barrier between the roof deck and roofing materials. Its primary function is to prevent water infiltration, safeguarding structures against potential damage from leaks and moisture. Roofing underlayment also enhances durability, protects against wind-driven rain and external elements, and contributes to energy efficiency. Common materials for roofing underlayment include asphalt-saturated felt, synthetic options like polyethylene or polypropylene, and rubberized asphalt membranes.
Over time, roofing underlayment has evolved, transitioning from traditional asphalt-saturated felt to synthetic alternatives that offer improved durability and weather resistance. The introduction of self-adhesive membranes has revolutionized installation methods, eliminating the need for fasteners or torches. Energy efficiency has also gained prominence with the use of reflective underlayment and radiant barriers, reducing heat transfer and enhancing energy conservation.
Market Drivers
Key factors driving the demand for roofing underlayment include aging construction infrastructure, increased housing starts, a growing focus on energy-efficient buildings, and the need for durable roofing solutions. Roofing underlayment has become an essential roofing accessory worldwide, supporting the growth of the market.
Market Trends
Notable trends in the roofing underlayment market include a focus on moisture and ice barriers with advanced waterproofing capabilities, an emphasis on durability and longevity for materials that can withstand harsh weather conditions, an increasing demand for energy-efficient underlayment with insulation properties, a growing interest in sustainable options, and advancements in installation methods for eco-friendly and efficient roofing solutions.
Recent Market JVs and Acquisitions
The market has seen a significant number of mergers and acquisitions (M&A) activities in recent years. Notable acquisitions include Saint-Gobain's acquisition of GCP Applied Technologies in 2022, leading to the integration of GCP's business into CertainTeed and Chryso businesses, resulting in the merger of waterproofing and specialty building materials businesses with CertainTeed.
Market Segments
The market segments based on material types include asphalt and synthetic roofing underlayment. While asphalt holds a larger market share, synthetic underlayment is expected to gain market share due to its superior qualities, including durability and moisture resistance.
End-user segments encompass residential and commercial construction, with residential construction taking the lead due to the demand for specific underlayment features for sloped roofs commonly found in residential buildings.
Installation types include self-adhesive and mechanically fastened underlayment, with self-adhesive underlayment dominating the market due to its moisture resistance, durability, and ease of installation.
Regional Analysis
Asia-Pacific is expected to maintain its position as the largest market for roofing underlayment, with significant growth prospects. Factors such as rapid urbanization, industrialization, economic growth, and building and energy code requirements are driving market growth in the region. China, India, South Korea, Japan, and Indonesia are key contributors to the Asia-Pacific market.
Competitive Landscape
The roofing underlayment market is populated with numerous local, regional, and global players. Major players compete based on factors such as price, product offerings, and regional presence. Key players in the market include Owens Corning, Saint-Gobain, GAF, DuPont, Atlas Roofing, Carlisle Companies, Inc., IKO Group, and Soprema SA.
Report Features
The comprehensive report provides valuable market intelligence and insights, making it a crucial resource for strategic decision-making. Key features of the report include:
Market structure analysis, including industry life cycle and supply chain analysis.
Market environment analysis, covering growth drivers, constraints, Porter's five forces analysis, and SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics, including market share, product portfolios, and new product launches.
Impact of COVID-19 and its recovery curve.
Identification of attractive market segments and growth opportunities.
Emerging trends and strategic growth opportunities for existing and new market players.
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