Global Roofing Underlayment Market Size Aims for $40 Billion Milestone by 2030, with CAGR of 5.42% - Zion Market Research

Portland, OR, May 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Roofing Underlayment Market By Application (Commercial Construction, Residential Construction, And Non-Commercial Construction), By Product (Non-Bitumen Synthetic, Asphalt-Saturated Felt, And Rubberized Asphalt), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Roofing Underlayment Market size & share in terms of revenue was valued at USD 26.60 billion in 2022 and it is expected to surpass around USD 40.06 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.42% during the forecast period 2023 to 2030.”

What is Roofing Underlayment? How big is the Roofing Underlayment Industry?

Report Overview:

Roofing underlayments are building materials that are laid or installed beneath shingles or any other sorts of roofing materials on a roof. Other types of roofing materials may also be laid or installed beneath roofing underlayments. Installing a roofing underlayment serves primarily to give an additional layer of protection against environmental or other elements such as moisture penetration, rain, or snow. This is the primary reason for installing a roofing underlayment. Felt is a type of material that is frequently used in the production of the material. Felt is a textile product that has a gentle and fuzzy consistency.

As an additional layer of defence, the material that has the consistency of felt is strengthened with polyester or fibreglass. It is possible to place it on top of the roof deck or underneath the shingles when it is being utilised as a roofing material. Additionally, it can be utilised in conjunction with other roofing materials such as metal, tile, or slate. Manufacturing, storing, and distributing roofing underlayments for residential and commercial use are the primary activities of this industry. During the period covered by the projections, a favourable growth outlook is anticipated to prevail.

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Global Roofing Underlayment Market: Growth Factors

Increasing the number of residential construction projects in order to accelerate market growth

It is anticipated that the global market for roofing underlayment would expand as a result of the rising number of residential construction projects taking place all over the world. This encompasses the entirety of the real estate industry, both in urban and rural settings, in addition to any architectural or remodelling projects. The urban real estate market in several nations is currently flying at a rapid rate due to the increasing number of people moving to urban centres in search of a better life and due to the increased number of work opportunities available in these areas.

Large sums of money are being invested by regional governments and private construction corporations in urban city planning and the construction of structures in order to meet the housing needs of the population. In addition to this, rural areas are also registering a high rate of home building projects, which is affected by both an increase in the number of families with dual incomes and an increase in the proportion of households with discretionary income. In developed areas, an increase in the frequency of renovation operations may contribute to an increase in the need for roof underlayment.

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Report Scope

Roofing Underlayment Market: Segmentation Analysis

The global roofing underlayment market is segmented based on application, product, and region.

Based on application, the global market segments are commercial construction, residential construction, and non-commercial construction. In 2022, the industry witnessed the highest growth in the residential construction segment as the world is witnessing a surge in demand for effective home solutions as the global population continues to rise. In residential construction, roof underlayment has wide applications. It is used between the roof deck and the shingles where it provides an added layer of protection. Additionally, it is highly recommended in homes that are situated near valleys or other areas that have high water flow since such homes are more prone to water leakage. They are also used around roof penetration such as chimneys and vents. As per the US Bureau of Economic Analysis, the construction industry contributed USD 842.7 billion to the country’s Gross Domestic Product (GDP) in 2020.

Based on product, the roofing underlayment industry divisions are non-bitumen synthetic, asphalt-saturated felt, and rubberized asphalt. The most commonly used product is the asphalt-saturated felt and hence showed maximum CAGR during the forecast period. The growth was mainly due to the decade-old dominance of the product over its counterpart. It provides an excellent layer of protection against moisture and water making it highly desirable. In recent times, non-bitumen synthetics have also gained huge popularity since they can withstand harsh weather conditions and have a longer lifespan. On average, the cost of asphalt-saturated felt for roofing underlayment ranges from $0.15 to $0.40 per square foot.

The global Roofing Underlayment market is segmented as follows:

By Application

• Commercial Construction
• Residential Construction
• Non-Commercial Construction

By Product

• Non-bitumen Synthetic
• Asphalt-Saturated Felt
• Rubberized Asphalt

Browse the full “Roofing Underlayment Market By Application (Commercial Construction, Residential Construction, And Non-Commercial Construction), By Product (Non-Bitumen Synthetic, Asphalt-Saturated Felt, And Rubberized Asphalt), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/roofing-underlayment-market-size

Competitive Landscape

Some of the main competitors dominating the global Roofing Underlayment market include - 

• GAF Materials Corporation
• CertainTeed Corporation
• Owens Corning
• Tarco
• IKO Industries Ltd.
• Atlas Roofing Corporation
• Tamko Building Products LLC
• Henry Company LLC
• Johns Manville
• Firestone Building Products
• Carlisle SynTec Systems
• Sika Sarnafil
• Malarkey Roofing Products
• Polyglass USA Inc.
• DuPont Building Innovations
• Dow Chemical Company
• Grace Construction Products
• Advanced Building Products
• Protecto Wrap Company
• Simpson Strong-Tie Company Inc.
• Duro-Last Roofing Inc.
• Koppers Inc.
• Boral Limited
• Saint-Gobain S.A.
• Beacon Roofing Supply Inc.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Roofing Underlayment market is likely to expand at a CAGR of around 5.42% during the forecast period (2023-2030).                  
• In terms of revenue, the Roofing Underlayment market size was valued at around US$ 26.60 billion in 2022 and is projected to reach US$ 40.06 billion by 2030.
• The roofing underlayment market is projected to grow at a significant rate due to the increasing home development projects
• Based on product segmentation, asphalt-saturated felt, was predicted to show maximum market share in the year 2022.
• Based on application segmentation, residential construction was the leading application in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Roofing Underlayment industry?
• What are the main driving factors propelling the Roofing Underlayment Market forward?
• What are the leading companies in the Roofing Underlayment Industry?
• What segments does the Roofing Underlayment Market cover?
• How can I receive a free copy of the Roofing Underlayment Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Application, By Product, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America to witness the highest growth

The global roofing underlayment market is expected to witness the highest growth in North America. The demand is mainly driven by the extensive construction projects in the US and Canadian region. These countries are highly prone to extreme snow during the winter season. This leads to residential units adding as many extra layers of protection against extreme weather conditions as possible in their home structure. Roofing underlayment is a common product used as an added layer beneath shingles. Furthermore, these regions witness frequently occurring hurricanes and tornadoes, leading to more demand for asphalt-saturated felt as it is the most common type of roofing underlayment used under such circumstances. In Europe, the growth is a result of strict building codes and regulations thus prompting more need for these materials.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In February 2023, Petersen, manufacturer of PAC-CLAD architectural metal cladding systems, is now offering a new range of roofing underlayments that can withstand high temperature and has self-adhering properties. The product called the PAC-CLAD HT is designed to provide extensive protection against water leakage and works well to prevent damage due to ice damming. It can withstand a temperature of up to 250°F
• In November 2022, CertainTeed, a US-based leading manufacturer of quality and sustainable building materials, announced the launch of RoofRunner® AIR acting as a new addition to the company’s existing line of innovative roofing products. The product was launched in the Canadian market. It is a breathable synthetic roofing underlayment promoting quick roof deck drying

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FREQUENTLY ASKED QUESTIONS

• What is roofing underlayment?
• Which key factors will influence the roofing underlayment market growth over 2023-2030?
• What will be the value of the roofing underlayment market during 2023-2030?
• What will be the CAGR value of the roofing underlayment market during 2023-2030?
• Which region will contribute notably towards the roofing underlayment market value?
• Which are the major players leveraging the roofing underlayment market growth?

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