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Roofing Underlayment Market to Hit USD 43.9 Bn by 2026

Updated: 2020-12-09

The roofing underlayment market from commercial construction is expected to hold a 24% share in 2026, owing to growing commercial construction activities throughout the globe as roofing underlayment protects the roofs from natural hazards and keeps the building safe
Global Market Insights, Inc. has recently added a new report on the roofing underlayment market which estimates the market valuation for roofing underlayment will cross US$ 43.9 billion by 2026. Rising re-roofing and new construction activities to mount up product demand.

Roofing Underlayment Market revenue will likely reach USD 43.9 billion by 2026; according to a new research report by Global Market Insights, Inc.
The construction industry in the U.S. is experiencing re-roofing activities mainly due to roof conditions close to the end of its life span, which is triggering investment by the homeowners and roofing contractors to replace/renovate roofing material. Additionally, roofing underlayment plays a significant role in the construction of residential and commercial buildings in the U.S. owing to harsh climatic conditions in the region as well as sudden changes in the weather.
In the past five years, the roofing contractors in the U.S. have grown by approximately 5% and have reached a revenue of USD 49 billion in 2019. Additionally, the average net profit margins of U.S. contractors has improved significantly; for instance, margins of 4.2% were recorded in 2014, and 2018 saw margins rise to 6.3%. The construction industry growth includes the commercial, residential, and the non-residential market for new and existing buildings. Rising product demand from re-roofing/renovation and new buildings has led to increased margins as contractors are able to improve their prices with rising product demand.
Despite having various growth opportunities in the construction industry, the global roofing underlayment market is projected to experience a downturn in the year 2020 on account of COVID 19 impact on construction and other industrial sectors as well. Due to less cash flow and lack of investment in the construction activity product demand has also seen to be falling in the current year. Although in a long-term perspective, product demand is also projected to gain momentum with the world getting over this global pandemic.
The non-bitumen synthetic underlayment segment is anticipated to generate gains of 5.1% in the forecast timeframe, as they are likely to be preferred over the conventional or traditional underlayment type in the coming years. These underlayments are composed of either polypropylene or polyethylene. The main advantages of synthetics are their lightweight but high strength, typically non-skid, and resistance to fungal growth, along with their wrinkle-free nature so that they don’t absorb moisture.
The commercial construction sector will hold a share of 24% in the global roofing underlayment market in 2026. Commercial construction activities include roofs of the manufacturing plants and warehouses in a plant area. Roofing underlayment protects the roofs from natural hazards and keeps the building safe. Growing Commercial construction activities throughout the globe are driving the segment growth. For instance, growing E-commerce business across the globe is driving the warehouse construction business, which will have a subsequent positive impact on the roofing underlayment demand in the near future.
Some major findings of the roofing underlayment market report include:
The Asia Pacific emerged as the largest market for roofing underlayment on account of increasing construction activities in the region.
Rising government interest in energy-efficient buildings and increasing adoption of eco-friendly products is expected to induce product demand.
Synthetic underlayment demand to gain high momentum in coming years.
COVID-19 impact on the construction sector will keep the demand low in the year 2020.
Europe roofing underlayment market size was over USD 7 billion in 2019, which projected to grow until the forecast time frame on account of increasing construction activities and strict regulations regarding the energy efficiency of buildings. The region has various building codes and regulations limiting VOC emissions and energy consumed by commercial as well as residential buildings. For instance, the Energy Performance of Buildings Directive (EPBD; 2010/31/EC) specifies the energy consumption of buildings should be to a very low level. Various public authorities having a new building also set an example by building or renting ‘nearly zero-energy building’.