Published : Oct-2012
In 2011, the global roofing products market valued US$28.3 billion, of which the European market comprised a 35.5% share, the largest regional market of roofing products in the world. In the same year, the Asia–Pacific and North American markets positioned themselves as the second and the third– largest regional markets,representing respective shares of 34.6% and 21%. The continuing uncertainty in Europe and weak levels of growth in the US are anticipated to reduce the shares of the markets in western regions’. This situation is expected to be compounded by a growth in demand from the Asia– Pacific region, especially China. Timetric projects that the market shares of Europe and North America will decline to 32.2% and 19.3% respectively in 2016.
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Regional markets:
Asia Pacific
The Chinese market represented the largest market share of 57.7% in the Asia-Pacific region, followed by Japan with 2.4%. The remaining share was distributed among the other six Asian countries, which consists of developing economies such as India, and Indonesia. In terms of review-period growth, the market recorded a CAGR of 10.80%, outperforming the global roofing products market.
Europe
The European roofing products market, which comprises 26 countries, valued US$10 billion in 2011 . Collectively, Belgium, France, Germany and Italy represented a market share of 55.6% of the region in 2011. The remaining countries comprised shares ranging from 0.1−7%, demonstrating diverse market dynamics. The global financial crisis in 2009, followed by the European debt crisis, was detrimental to the region’s construction industry, which caused the roofing products market to stagnate and record a CAGR of 0.68% during the review period. However, over the forecast period, it is predicted that the demand for roofing products will improve, as it is anticipated that the debt crisis will ease and construction industry will resume its growth, stimulating the roofing products market to achieve a CAGR of 3.53%.
North America
In 2011, the North American roofing products market valued US$5.9 billion. The US represented a market share of 69.4% and was adversely affected by the country’s recession, which lowered the market’s review period CAGR to 0.94%. Over the forecast period, Timetric expects the North American roofing products market to record a CAGR of 3.81%. The largest category, bitumen roofing felts, constituted a market share of 93.6% share in 2011, and is projected to post a CAGR of 3.87% over the forecast period.
Latin America
In 2011, Brazil was the largest market in Latin America, representing a share of 40.5%, followed by Mexico and Argentina which posted respective shares of 39.4% and 12.9%. Bitumen roofing felts, with a market share of 53.3% share in 2011, was the largest category within the region. Over the forecast period Timetric expects the Latin American market to achieve a CAGR of 8.23%, as against 7.14% recorded during the review period.
Middle East
In 2011, the Middle Eastern roofing products market accounted for a 2.6% share of the global market. The region, which consists of Saudi Arabia, UAE, Qatar and Bahrain, is the smallest market for roofing products in the world. Timetric expects the market to record a CAGR of 5.34% over the forecast period.
Report Details:
Published: October 2012
No. of Pages: 172
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