PVC Roofing Market Size, Share, Growth and Industry Analysis by Type (1.2 Mm, 1.5 Mm, 2.0 Mm, and Others) By Application (Non-Residential and Residential), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

PVC Roofing Market REPORT OVERVIEW

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The global PVC roofing market size was USD 1500.3 million in 2022 and market is projected to touch USD 2248.95 million by 2031, exhibiting a CAGR of 8.2% during the forecast period.

There has been an evolution in use of PVC roofing from the past till today. The PVC roofing looks promising and has a lot of growth opportunities in the coming future. These are extensively used in building, and, construction industry which increases the PVC roofing market share.

There have been several developments and discoveries in this field. These discoveries have given rise to many growth opportunities. This product is finding greater demand and application in the market worldwide. They also have many new components that have improved the quality of this product. The roofing is made up high-quality materials. These are identified as the newest and the latest trend in the market. New types of roofing are being launched these days that have various applications in different fields.

The roofings are increasingly being adopted in the building and construction industry. These products also have certain improvised features that can amplify their market growth. They are cheaper and are very energy efficient. These acts as the factors driving the market growth.

COVID-19 impact: Decline in Building and Construction Industry Reduced the Market Growth

COVID-19 was one such deadly disease that affected the entire world and all the industries. The PVC roofing industry also became a victim of the pandemic. During COVID-19 there were many restrictions and lockdowns that were imposed. This was one of the major reasons for the decrease in the market share.

The product is directly dependent on the building and construction industry. The fall of this industry during the pandemic brought down the market share. The disruption in the supply chain and the unavailability of raw materials was also a crucial reason for the downfall of the market. However, post the pandemic the market recovered quickly and is anticipated to grow well in the upcoming years.

LATEST TRENDS

"Introduction Of High-Quality PVC roofing to Increase the Market Growth"

Many creative and innovative changes are being witnessed in the above market recently. New types of roofing are being launched these days that have various applications in different fields. The newly introduced roofing is much more efficient and very accurate. They also have many new components that have improved the quality of this product. The roofing is made up high-quality materials.

These products are finding greater demand and application in the market worldwide. Their role in the construction and building industry is gradually increasing which is creating huge market opportunities for the product. This has been identified as the latest trend in the market.

PVC Roofing Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

1.2 mm, 1.5 mm, 2.0 mm and Others. The 1.2 mm segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Non-Residential, and, residential. The residential segment is predicted to dominate the market during the research and forecast period.

DRIVING FACTORS

"Increasing Usage of PVC Roofing in Building and Construction Industry to Fasten the Market Growth"

The PVC roofing industry has seen a robust growth and expansion in the recent days especially after the pandemic period. Many reasons have contributed to this expansion. The major factor being the extensive use of these for commercial purpose. There has been a rising global demand for these products recently.

The roofings are increasingly being adopted in the building and construction industry. New kinds of products are being introduced increasing their scope of usage.  This acts as a major factor driving the market growth.

"Improvised features of these PVC roofing to Propel Market Growth "

Apart from being used in the building and construction industry this product also has increasing demand from other industries. This has been one of the major reasons for the PVC roofing market growth in the recent years.

These products also have certain improvised features that can amplify their market growth. They are cheaper and are very energy efficient. All of these factors are prone to bring vast growth opportunities for the market in the upcoming years.

RESTRAINING FACTOR

"Fragility of these roofings to Decrease the Market Growth"

These PVC roofings are very handy. They also have a lot of demand in various industries. However, even with all these advantages, these roofings are considered very fragile. This can be considered as one of the major restraining factors for the market share. They shrink over time and deteriorate very easily. The quality can decrease with time. This can be considered as a major factor restraining the industrial growth of the product.

PVC Roofing Market Regional Insights

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"North America to Dominate Market Share in The Upcoming Years"

The region that predominantly dominates the market is North America. It holds the largest market share generating high revenue and profits. After North America Asia Pacific occupies the next position in the market share. North America accounts for more than one-fourth of the market.

Many reasons have contributed to the growth of the market in this region. The most important factor is the growth of the construction and building industry in the region.  The huge investments coming in from the key industry players has also made this region the leading market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Soprema Group (France)
• GAF (U.S.)
• Sika (Switzerland)
• Duro-Last (Michigan)
• Johns Manville (U.S.)
• TECHNONICOL (China)
• Firestone (U.S.)
• Carlisle (U.S.)
• CKS (U.S.)
• Jianguo Weiye Waterproof (China)
• Hongyuan Waterproof (China)
• Fosroc (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations