Modified Asphalt Roofing Underlying Market Research Report, Its History and Forecast 2024 to 2031
Executive Summary
Modified asphalt roofing is a type of roofing material that has been treated with additives to enhance its performance and durability. The underlying market research reports specific to market conditions indicate a growing demand for modified asphalt roofing due to its superior properties compared to traditional roofing materials.
Market trends in the modified asphalt roofing industry include increasing adoption of energy-efficient roofing systems, rising demand for sustainable building materials, and advancements in technology leading to improved product performance.
The geographical spread of the modified asphalt roofing market is significant, with North America, Asia Pacific, Europe, the USA, and China being key regions driving market growth. North America holds the largest market share due to the increasing awareness of the benefits of modified asphalt roofing and stringent building codes that require high-quality roofing materials. Asia Pacific is also a key market for modified asphalt roofing, with rapid urbanization and industrialization leading to the development of new infrastructure projects.
The Modified Asphalt Roofing Underlying Market is expected to grow at a CAGR of % during the forecasted period, driven by factors such as increasing investment in infrastructure projects, growing demand for sustainable building materials, and advancements in technology leading to improved product performance. Overall, the modified asphalt roofing market is poised for significant growth in the coming years, fueled by favorable market conditions and increasing awareness of the benefits of this innovative roofing material.
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Market Segmentation:
This Modified Asphalt Roofing Underlying Market is further classified into Overview, Deployment, Application, and Region.
In terms of Components, Modified Asphalt Roofing Underlying Market is segmented into:
- GAF
- CertainTeed
- Oriental Yuhong
- Owens Corning
- TehnoNICOL
- Atlas Roofing
- Hongyuan Waterproof
- CKS
- TAMKO Building Products
- Bauder
- Jianguo Weiye Waterproof
- Hangzhou Jinwu
- Yuhong Waterproof
- Polyglass
- Yuwang Group
- IKO Industries
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The Modified Asphalt Roofing Underlying Market Analysis by types is segmented into:
- Styreneic Block Copolymers
- Atactic Polypropylene
- Others
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The Modified Asphalt Roofing Underlying Market Industry Research by Application is segmented into:
- Residential
- Non-Residential
In terms of Region, the Modified Asphalt Roofing Underlying Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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Key Drivers and Barriers in the Modified Asphalt Roofing Underlying Market
Key drivers in the Modified Asphalt Roofing Underlying market include increasing demand for high-performance roofing solutions, growth in the construction industry, and advancements in technology. Barriers to market growth may include stringent regulations, volatile raw material prices, and competition from alternative roofing materials.
Challenges faced in the market include addressing environmental concerns related to manufacturing and disposal of asphalt roofing products, navigating complex building codes and standards, and managing the impact of economic fluctuations on construction activity. Additionally, limited knowledge and awareness about the benefits of modified asphalt roofing systems among consumers and contractors can also pose a challenge for market expansion.
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Competitive Landscape
GAF is a leading manufacturer of roofing materials in the United States. The company was founded in 1886 and has since grown to become a trusted name in the industry. GAF offers a wide range of roofing products, including modified asphalt roofing underlying, which are known for their durability and weather resistance. The company has experienced steady market growth over the years, expanding its product offerings and distribution channels.
Owens Corning is another key player in the modified asphalt roofing underlying market. The company has a long history in the construction industry, dating back to 1938. Owens Corning is known for its innovative products and commitment to sustainability. The company's modified asphalt roofing underlying are popular among contractors and homeowners alike for their performance and longevity.
TehnoNICOL is a global manufacturer of roofing materials, including modified asphalt roofing underlying. The company was founded in 1997 and has since established a strong presence in the market. TehnoNICOL is known for its high-quality products and competitive pricing, making it a top choice for customers around the world.
In terms of sales revenue, GAF reported annual revenue of over $3 billion in 2020, making it one of the largest players in the market. Owens Corning also reported strong sales revenue of over $7 billion in 2020. These figures demonstrate the significant market presence and financial success of these companies in the modified asphalt roofing underlying industry.
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