CHICAGO, UNITED STATES, July 5, 2023 /
EINPresswire.com/ -- The
𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 𝐫𝐨𝐨𝐟𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 is projected to reach a valuation of 𝐔𝐒$ 𝟑𝟗.𝟔𝟒 𝐁𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, growing at 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟒.𝟖𝟒% during the forecast period from 2023 to 2031. In 2022, the market revenue was 𝐔𝐒$ 𝟐𝟔.𝟐𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@-
https://www.astuteanalytica.com/request-sample/united-states-roofing-market
The U.S. roofing market is growing by the rising demand for roofing in the building and construction sector. The number of firms active in the world market is enormous. In order to match customer demands, these firms are raising their capital investments and placing more emphasis on R&D activities and higher-quality products. New materials, safety measures, and sustainable business practices contribute to the ongoing evolution of the U.S. roofing market. The demand for energy-efficient roofing choices is growing among homeowners, who are increasingly turning to materials like metal shingles.
The rapid population growth is causing an increase in infrastructure-building activities, which is driving the growth of the U.S. roofing market. Rapid urbanization in developing nations, rising building & construction activity worldwide, and technological developments in roofing materials are the main factors driving the global market. The amount spent on building manufacturing facilities in the U.S. has seen a startling increase. Since the end of 2021, real manufacturing construction spending has increased by half. A seasonally adjusted annual rate of US$ 1,908.4 billion was predicted for construction spending in April 2023, which is 1.2 percent more than the previously forecast US$ 1,885.0 billion in March.
Homeowners who wish to lower their carbon footprint and energy bills are emphasizing sustainability and energy efficiency. Technological development has made possible environmentally friendly roofing options, such as green roofs, which will bring lucrative growth opportunities for the U.S. market. In the summer, green roofs with flora on them can lower surface temperatures by up to 68 degrees Fahrenheit. In the U.S. green (also known as vegetative) roofing systems are anticipated to grow by 5.1% annually to US$ 207 million in 2025, with a need for 11.8 million square feet. In 2020, the U.S. green roofing market spanned 11.3 million square feet and was worth US$ 162 million.
𝐏𝐕𝐂 𝐚𝐧𝐝 𝐒𝐏𝐅 𝐢𝐧 𝐭𝐡𝐞 𝐔.𝐒. 𝐑𝐨𝐨𝐟𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐭𝐨 𝐀𝐭𝐭𝐚𝐢𝐧 𝐌𝐨𝐫𝐞 𝐓𝐡𝐚𝐧 𝟒𝟓% 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
Polyvinyl Chloride (PVC) and Spray Polyurethane Foam (SPF) are the most widely utilized roofing materials in the United States. Astute Analytica estimates that these two materials made up more than 45% of the market share, with SPF dominating over 24% of the revenue and PVC coming in second with over 21%.
SPF's supremacy in the roofing market can be due to characteristics like energy efficiency, waterproofness, seamlessness, longevity, and durability. SPF has excellent insulation and energy-saving qualities that can save building heating and cooling costs.
Due to its numerous benefits, PVC roofing has also significantly increased its market share in the US. PVC is an ideal choice for commercial and industrial applications because of its excellent resistance to abrasive weather, chemicals, and fire.
𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞 𝐌𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟑𝟖% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
Residential activities are expected to account for more than 38% of U.S. revenue, with new independent house construction, residential roofing renovation, and the installation of separate garages and shades accounting for a sizable amount. In May 2023, privately owned housing started at a seasonally adjusted annual pace of 1,631,000. This is 5.7% higher than the May 2022 rate of 1,543,000 and 21.7% higher than the revised April estimate of 1,340,000. May 2023 saw 997,000 single-family dwelling starts, which is 18.5% more than the revised April total of 841,000.
On the other hand, the residential sector also makes significant investments in remodeling and renovation tasks, such as replacing and mending roofs. Homeowners spent an estimated US$ 330 billion on house repairs and improvements in 2021. Over US$ 300 million of that money was spent on roofs. Building individual garages and blinds also increases the need for residential roofing services. According to estimates, 63% of American households have a garage or carport.
𝐓𝐨𝐩 𝟏𝟏 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐇𝐨𝐥𝐝 𝐋𝐞𝐬𝐬 𝐭𝐡𝐚𝐧 𝟓𝟓% 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
Top 11 players in the U.S. roofing market control 55% of the market revenue, which indicates intense competition in the market. In order to meet the increased demand for roofing products, roofing companies are modifying their supply chains and increasing production. With less than 10% of the market share and an established leadership position, 3M has a lot of room to develop.
A diverse international firm, 3M Co. (MMM) produces a variety of goods, including adhesives, building supplies, insulation, lubricants, tools, medical supplies, electronics components, cleaning supplies, and office supplies. The consumer division of 3M sells office supplies, products for do-it-yourself (DIY) home improvements, and other consumer goods.
Companies must concentrate on staying ahead of market trends, spending money on research and development, and growing their product portfolios to meet the needs of various consumer segments if they want to stay competitive in the U.S. roofing market. Gaining and keeping clients in this sector also depends on developing a strong distribution network and brand reputation.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@-
https://www.astuteanalytica.com/industry-report/united-states-roofing-market
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
• 3M Company
• Atlas Roofing Corporation
• BASF SE
• Berkshire Hathaway Inc.
• Carlisle Companies Inc.
• Certain Teed Corporation
• Dow Chemical Company
• Dupont de Nemours Company
• Duro-Last Inc.
• GAF
• IKO Industries Ltd
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 𝐫𝐨𝐨𝐟𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐑𝐨𝐨𝐟 𝐓𝐲𝐩𝐞, 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐓𝐲𝐩𝐞, 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬, 𝐚𝐧𝐝 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫𝐬
𝐁𝐲 𝐑𝐨𝐨𝐟 𝐓𝐲𝐩𝐞
• Low Sloped Roofs
• Flat Roofs
• Pitched Roofs
𝐁𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐓𝐲𝐩𝐞
• Metal Roofing
• Spray Polyurethane Foam (SPF)
• Poly Vinyl Chloride (PVC)
• Thermoplastic Polyolefin (TPO)
• Ethylene Propylene Diene Terpolymer (EPDM)
• Others
𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬
• Roofing Inspection
• Roof Repairs/Maintenance
• Roof Restoration
• Roof Replacement
• Roof Installation
𝐁𝐲 𝐄𝐧𝐝-𝐔𝐬𝐞𝐫𝐬
• Residential
• Healthcare
• Educational Institutes
• Hotels & Restaurants
• Banks & Financial Institutions
• Airports
• Warehouses
• Retail
• Others
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@-
https://www.astuteanalytica.com/request-sample/united-states-roofing-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Aamir Beg
Astute Analytica
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