Market Synopsis of Composite Slate Roofing Market:
Composite slate roofing is made from combining the full surface of at least two different materials. The aim of using various materials together is to increase durability, increase elasticity and to combine the materials’ unique properties. Composite slate roofing is usually made from plastic or rubber, or a combination of both. Some roofing manufacturers use recycled materials, while others use virgin resins. It is also called synthetic slate roofing. The composite slate roofing market is driven by various factors such as growing construction industry across the globe, and low maintenance cost of the composite slate roofing. The composite slate roofing market has various constraints that hinder the growth of the market such as availability of other Salternatives and economic slowdown.
Availability of innovative construction solutions that are durable and require low maintenance, is expected to impact the market, favourably. The increase in the new construction start-ups in the recent years, is leading to an increase in demand for composite slate roofing. They are designed to withstand high wind, fire, freeze-thaw cycles, and other conditions. Some roofing tiles also contain fire retardant and UV inhibitors for extra protection. Many composite slate roofing products are guaranteed to last at least from 20 to 50 years. Hence, such high-performance and low maintenance alternative for roofing is expected to increase the demand of the market.
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The global composite slate roofing market has been segmented based on type, application and region. On the basis of type, it is segmented into shingles, tiles and shakes. On the basis of type, Shingles accounted for the largest market share of 67.42% in 2016 and is projected to grow at the highest CAGR of 4.23% during the forecast period. On the basis of application, residential sector is referred as highest growing segment due to the increasing population and urbanization. With rapid industrialization in countries like India, China and Indonesia, there is seen and increased demand for construction. The market is expected to reach market size of 3,438.1 million by the end of forecast period with CAGR 2.90% between 2017 and 2023.
Market Research Analysis:
The global market for composite slate roofing market is expected to grow over the CAGR of around 2.90 % during the period 2017 to 2023. Asia-Pacific region holds largest share in the global market. Rapid lifestyle changes and economic growth, coupled with rising population in China and India have spiked the growth rate of composite slate roofing in the region. Chinese government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. Europe was the second-largest market for the global composite slate roofing in 2016. Rise in the residential replacement activities, rising environmental concerns and the growing interest in energy saving & cost benefit construction, are the factors driving the growth of the market in European region.
Shingles will be the largest segment
On the basis of type, Shingles accounted for the largest market share of 67.42% in 2016 and is projected to grow at the highest CAGR of 4.23% during the forecast period.
In the roofing industry there are many different types of shingles. It is made up of various materials such as wood, slate, fiber cement, metal, plastic, and composite material such as asphalt shingles. The types of roofing shingles available differs based on size, shape, color, thickness and material. Slate shingles have been known to last anywhere from more than 50 years and have some of the best water and damage resistance properties, which is ideal for frigid winter temperatures.
- DaVinci Roofscapes, LLC
- Ply Gem Roofing
- CertainTeed Corporation
- Enviroshake Quality Engineered Roofing
- EcoStar LLC.
- Moderne Slate Roofing Systems
- Baker Roofing Company
- Colorado Roofing Contractors, LLC
- Inspire Roofing Products
- Brava Roof Tile
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global Composite slate roofing market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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