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ALBANY, NY, March 9, 2022 /PRNewswire/ — Changing requirements of roofing materials in buildings has underpinned the rapid evolution of the roofing market. The commercialization of new materials has expanded the scope of protection from various atmospheric conditions is a key driver for revenue growth, note the TMR analysts in a study of the growth dynamics and promising investment avenues. The global valuation of the roofing market is projected to reach worth of US$ 322 Bn by 2031.
Rise in commercial construction especially in the developing regions of the world has spurred revenue prospects of the roofing market. Evolving technical and aesthetic considerations have driven advancements in various roofing materials such as in ceramic coated granules, bitumen, clay, sand, concrete, polycarbonate, and fiberglass.
Demand for environment-friendly roofing materials has opened up new avenue which players are expected to increasingly capitalize on in the near future, assert the analysts in the TMR study on the roofing market. A recovery in demand for residential construction in recent years since the onset of the COVID-19 pandemic has been creating incremental avenues.
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Key Findings of Roofing Market Study
- Rise in Use in Energy Conservation and Protection Applications Propelling Sales: Energy-efficient cool roofs are gaining popularity in commercial, residential, and other non-commercial applications. Of note, the use of environmental-friendly roofing materials has added a massive impetus to new avenues in the roofing market. A case in point is integration of photovoltaic solar panels into modern residential roofs. On the other hand, roofing materials have advanced to protect buildings from natural damage and offering long-term protection against leakage, observe the analysts in the TMR study.
- Booming Construction Sector to Underpin Vast Lucrative Avenues During Forecast Period: Strides made in the construction sector are propelling revenue gains to companies in the roofing market. They have captured substantial revenues from the booming construction of commercial buildings in urban spaces in emerging economies around the world. Low-maintenance roofing products have opened new avenues, especially to …
Full story available on Benzinga.com
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