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Roofing Underlayment Market is likely to garner massive acclaim from construction sector by 2024

Author : Rahul Varpe | Published Date : 2019-08-27 

With the masses being more aware of the significance of roofing components in construction, it is expected that consumers would exercise caution and mandatorily install high-grade roofing underlays for their homes, which would augment roofing underlayment market to quite an extent. Driven by the dire need for these components across coastal areas, in the face of hazardous climatic mishaps, and the adoption of building codes by contractors for installing flame-resistant and water-resistant underlays in commercial zones, Roofing Underlayment Industry size has been forecast to surpass a valuation of USD 45 billion by 2024.

Inherent realm of the mainstream construction sphere, roofing underlayment market is likely to garner massive acclaim in the forthcoming years. This prominence can be primarily attributed to the robustly expanding construction sector across the globe, subject to the housing requirement for the ever-growing population. Adhering the need for strong roofing components for residential homes, companies partaking in roofing underlayment industry share have been religiously adopting tried-and-tested as well as novel business growth tactics to manufacture a range of products that would prove beneficial for home construction.

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With substantial rise in the requirement for building components across residential and commercial spaces, roofing underlays are expected to register extensive demand in the years to come. As the competition in roofing underlayment market soars to superlative heights, companies constituting this combative business space would be seen adopting highly strategic measures to sustain their position.

The major players involved in roofing underlayment market are: Atlas Roofing Corporation, CertainTeed, GAF Materials, Tarco, Owens Corning, Johns Manville, Duro-Last, Gardner-Gibson, DuPont and Vaproshield. Extensive research & development by industry players will fuel the market share.

Owens Corning, one of the most prominent roofing underlayment market players, inked a deal with the Canada-based roofing underlayment manufacturer, InterWrap, for a valuation of USD 450 million. The transaction, post receiving regulatory clearance, attained closure in the second quarter of 2016, and is expected to prove mutually beneficial for both the parties.

While InterWrap’s brands would help Owens expand its presence further in roofing underlayment market, the latter’s innovations in building technology is expected to help InterWrap penetrate newer markets and expand its consumer base. The agreement was touted by experts to be one of most reciprocally advantageous deals of 2016 witnessed in roofing underlayment industry.

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Roofing Underlayment Market by Product:

  • Asphalt-saturated felt
  • Rubberized asphalt
  • Non-bitumen synthetic

Roofing Underlayment market by Application:

  • Residential construction
  • Commercial
  • Non-Residential construction

Roofing underlayment Market, being an essential vertical of the construction sphere, is governed by the laws applicable for this rapidly expanding sector. However, recently, four major roofing companies aiming to expand the reach of roofing underlayment industry in the overall construction space and manufacture cutting-edge underlayment products for building envelope applications, have formed the Asphalt Underlayment Council (AUC).

Related News: https://www.marketwatch.com/press-release/north-america-industrial-air-filtration-market-is-set-to-register-15-billion-revenue-by-2024-2019-08-27

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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