New Report says China Will Surpass U.S as Largest Single Roofing Market by Area by 2012

July 16, 2008 - PRLog -- Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which predicts that as measured by area, China is expected to become the largest single market for roofing by 2012, overtaking the US.

“World Roofing-Industry forecasts for 2012 & 2017” which is available at http://www.reportbuyer.com/go/FED00018 finds that global roofing demand is forecast to expand 2.9% per annum through 2012 with a value of $65 billion.

Authors of the report say that demand for roofing will be driven by accelerating growth in the two largest markets — the US and China. The US market is expected to expand as housing construction bounces back from its current slump. On the other hand, China’s demand will arise from advances in the residential market, which will be driven by rising per capita income levels. The study forecasts that the Chinese market will grow 4 % per year till 2012, reaching 2.7 billion square meters.

Analysts predict that the emerging economies of Asia, including China, will record the fastest growth in demand for roofing materials through the same period. Rapid population growth in countries such as India, the Philippines and Malaysia will generate demand for housing. In the non-residential market, the economic boom in China, India and Malaysia will create demand.

Analysts say that in 2007, bituminous roofing was the most widely used roofing material in the global market. This material is widely used as bituminous shingles in the US and Canada, and is also popular in low-slope bituminous roofing in China and Western Europe. Going forward, the fastest growing markets for bituminous roofing are expected to be the nonresidential construction markets of Asia and Eastern Europe.

Addtionally, the study states that plastic and elastomeric roofing materials are projected to post the fastest gains through 2012.  While plastic roofing (e.g., thermoplastic polyolefin, PVC, spray polyurethane foam) will see its greatest gains the US market, elastomeric roofing (e.g., ethylene propylene diene monomer and chlorosulfonated polyethylene) will Chinese and other Asian markets.

“World Roofing-Industry forecasts for 2012 & 2017” is available from Report Buyer.
For more information, see:
http://www.reportbuyer.com/industry_manufacturing/constru...

Report Buyer product ID: FED00018

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