Roofing Underlayment Market expanding 5.5% CAGR to cross $45 bn by 2024

Globally, the escalating construction domain will continue to remain one of the principal driving forces of Roofing Underlayment Market. Getting into the intricacies of this business space though, clarifies that there are a lot more factors pertaining to building construction and infrastructure development that are inherently responsible for augmenting the profitability landscape of roofing underlayment industry. Commercial construction for instance, specifically demands the installation of flame and water-resistant underlays, especially in homes with metallic or tiled roofs, diversifying the application landscape of roofing underlayment market.

The stringent norms enforced with regards to environmental safety, especially across the geographies of North America and Europe, have been projected to prompt the regional populace to go in for renovation projects to render homes environment friendly, which would have a considerable impact on roofing underlayment industry, given the extensive prevalence of re-roofing activities. The Tyvek® Protec™ underlays portfolio launched in 2016 garnered quite some repute in roofing underlayment market, and has been touted to emerge as one of the most innovative products introduced by DuPont Protection Solutions.

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The latest innovation in the bunch was introduced at the 2017 International Roofing Expo held at Las Vegas in March 2017, and by all means, offers characteristics similar to its predecessors – the Tyvek® Protec™ 120; Tyvek® Protec™ 160 and Tyvek® Protec™ 200. Endowed with exceptional features such as durability, UV resistance, warranty protection, high quality, and strength, the Tyvek® Protec™ falls under one of the most unique roofing underlays that can be used in the construction arena. The product portfolio has presented quite a challenge for other players in roofing underlayment industry, as it has been deemed suitable to be used for high-grade re-roofing projects or new roof constructions, given its embossed patterns, improved grip, and smooth installation convenience. The launch of Tyvek® Protec™ seems to have considerably strengthened DuPont’s position in roofing underlayment market, which, as per estimates, accumulated a valuation of close to USD 29 billion in 2016.

The Asia Pacific zone has been touted to be one of the most remunerative geographies for roofing underlayment industry. This presumption can rightly be attributed to the continent’s humongous construction sector, which seems to be expanding by the day. As per estimates, Asia Pacific dominated the overall roofing underlayment market share in 2016, boasting of a revenue beyond USD 11 billion, pertaining to the massive number of construction projects across the region.

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Beside domestic projects, another significant factor that has propelled the regional roofing underlayment market is the influx of foreign direct investments in the construction sector of the continent. The countries in APAC have been attracting international investors of late, given that the region has emerged as one of the most lucrative growth avenues in recent years, subject to extensive government funding for huge infrastructure projects and the ever-growing populace demanding eco-friendly, modern, luxurious housing on a large scale. Pertaining to the same, APAC has been forecast to dominate the overall roofing underlayment industry over 2017-2024, both, in terms of volume and value.

The Hebei Construction Group recently announced its plans to boost its construction capacity by five times the current capacity, to meet the surging demand for infrastructural development from the government-aided Xiong’an New Area.  The newly constructed prefabricated buildings are expected to be more environment friendly than the conventional ones, and are likely to demand the requirement of numerous roofing components, inherently impacting the roofing underlayment market trends. Furthermore, the Chinese turf has also witnessed mainland developer LVGEM acquiring the Wharf Group for USD 1.2 billion – in an agreement that has been touted to be one of biggest real estate pacts on the Asian grounds.