Composite Slate Roofing Market is predicted to grow at approximately 2.90% by 2023

“Composite Slate Roofing Market”
Global Composite Slate Roofing Market Information, By Type (Shingles, Tiles and Shake), By Application (Residential, Non-Residential) and Region – Forecast to 2023

Market research future published a raw research report on Global Composite slate Roofing Market that contains the information from 2017 to 2023. 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.

Key Players:
The key players of Global Composite Slate Roofing Market include DaVinci Roofscapes, LLC (U.S.), Ply Gem Roofing (U.S.), CertainTeed Corporation (U.S.), Enviroshake Quality Engineered Roofing (Canada), EcoStar LLC. (U.S.), Moderne Slate Roofing Systems (U.S.), Baker Roofing Company (U.S.), Colorado Roofing Contractors, LLC (U.S.), Inspire Roofing Products (U.S.) and Brava Roof Tile (U.S.) others.   

Composite Slate Roofing uses plastic, rubber, and other used in residential and non-residential segment. High demand for these products, rise in purchasing power, which are driving the market towards growth. The growth of Composite Slate Roofing Market is influenced by the growing construction industry, low maintenance cost and rapid industrialization and urbanization in emerging economies. Availability of other alternatives and economic slowdown hinder the growth of the market.

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. Asia-Pacific is the largest & fastest growing market for composite slate roofing, followed by Europe and North America. Increase in industrialization, rising urbanized population, and growth in spending capacity are the factors driving the growth of the market in Asia-Pacific region.

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Market Highlights:
Composite Slate Roofing have been the best roofing material of choice for last few decades for residential and non-residential infrastructure. 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 as synthetic slate roofing. Popular colors for Composite Slate Roofing shades include red, grey-blue, purple-grey, green and black. The growing population, improved standard of living, growing demand for packaged products are expected to drive the growth of the Global Composite Slate Roofing Market. Features such as longer shelf life and user friendly solutions in terms of storage are expected to fuel the market. Composite Slate Roofing is designed to meet all the physical requirement of the supply chain to ensure that the product arrives on time while preserving the texture and convenience to handle.

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.       

Scope of the Report:
This study provides an overview of the Global Composite Slate Roofing Industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Composite Slate Roofing Market as type, application. On the basis of type it is segmented as shingles, tiles and shakes. On the basis of application it is segmented as residential and non-residential.

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