Key Residential Low Slope Roofing Market Trend 2024-2033: Innovations In Ventilated Synthetic Roofing

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Experiencing robust growth in recent years, the residential low-slope roofing market is poised to rise from $18.16 billion in 2023 to $19.7 billion in 2024. This represents an impressive compound annual growth rate CAGR of 8.5%. The various factors contributing to this growth include an increased demand for energy efficient roofing solutions, surge in residential construction activities, focus on reducing cooling costs and improving indoor air quality, and growth in urbanization and infrastructure development.

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Continuing this upward trajectory, the residential low slope roofing market size is anticipated to reach a staggering $27.44 billion in 2028, manifesting a CAGR of 8.6%. Key factors promoting this growth include a rise in construction activities in residential sectors, popularization of low maintenance roofing systems, a greater focus on enhancing property values, and an increasing need for weather-resistant roofing materials.

What's propelling the growth of the residential low-slope roofing market?

A marked increase in the demand for solar panels is moving the needle in the residential low-slope roofing market. These panels transform sunlight into electricity using photovoltaic technology. The soaring need for renewable energy sources and supportive government regulations are contributing to the solar panels' increased demand. Residential low-slope roofs, which provide relatively flat surfaces, facilitate the optimal positioning and angling of solar panels to capture maximum sunlight. Ease and safety of access make these roofs a safe choice for solar panel installation. For instance, in August 2023, an estimated number of solar photovoltaic panel shipments in the United States jumped by 10% compared to the previous year, attaining a record 31.7 million Kilowatt peak kWp shipped, as reported by the US-based government agency, Energy Information Administration EIA. This escalating demand for solar panels thus acts as a critical growth driver for the residential low-slope roofing market.

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Leading the charge in the residential low slope roofing market are major companies such as BASF SE, Sika AG, Owens Corning, Kingspan Group plc, Carlisle Construction Materials LLC, Johns Manville Inc., BMI Group Limited, CertainTeed Corporation, CentiMark Corporation, GAF Materials Corporation, Atlas Roofing Corporation, IKO Industries Ltd, The Garland Company Inc., TAMKO Building Products LLC, ProVia LLC, American Hydrotech Inc., GenFlex Roofing Systems LLC, Polyglass USA Inc, Malarkey Roofing Products Co., ATAS International Inc, ARAC Roof It Forward Inc., Hopkins Roofing LLC, Kemper System Inc., Mule-Hide Products Co Inc., Strategic Building Products LLC.

New industry trends are emerging with companies creating ventilated synthetic roofing to promote energy efficiency, minimize cooling expenses, and lengthen roof longevity. Ventilated synthetic roofing uses synthetic materials and allows airflow beneath the roof for temperature regulation and damp prevention. CertainTeed, a US-based manufacturing business, launched Roof Runner AIR in November 2022, a breathable synthetic roof underlayment. This not only endorses quick drying but also prevents moisture damage boosting roof durability and making it an asset to the residential low-slope roofing market.

The residential low slope roofing market is segmented by Type Ethylene Propylene Diene Monomer EPDM Roofing, Thermoplastic Olefin TPO Roofing, Polyvinyl Chloride PVC Roofing, Modified Bitumen Roofing, Other Types, by Roofing Material Bituminous Roofing, Metal Roofing, Tile Roofing, Other Roofing Materials, and by Application Commercial, Residential, Industrial.

As of 2023, North America is the leading region in the residential low slope roofing market. In the forecast period, North America is expected to maintain its rapid growth. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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