World Roofing Market

NEW YORK, July 2, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

World Roofing Market

http://www.reportlinker.com/p0923001/World-Roofing-Market.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Home_Building_and_Improvement

World demand to rise 3.7% annually through 2016

World demand for roofing materials is forecast to grow 3.7 percent annually through 2016 to 11.8 billion square meters, a substantial acceleration from the slow growth of the market during the 2006-2011 period. Product sales in dollar terms are projected to grow more quickly, increasing 6.2 percent per year to $108 billion in 2016 as roofing prices rise. Gains in demand will be fueled by a major uptick in residential building construction activity, as construction industries in major developed nations such as the US rebound from their recent weakness. Further growth will be supported by continued gains in developing markets, particularly in the Asia/Pacific region.

US, China to remain key national roofing markets

Two countries, the US and China, will together account for nearly 60 percent of global gains in roofing demand in square meters through 2016. China, the world's largest market for roofing products in 2011, will continue its trend of strong growth and account for more than 30 percent of world market gains. The US, which experienced a collapse in new housing construction that began in 2006, will rebound significantly, but the US roofing market in 2016 will still be slightly below 2006 levels. Strong growth is also expected in a number of smaller developing nations, including India, Indonesia and South Africa. Although some developed countries will see fast rebound-fueled growth similar to the US, market gains will typically be smaller than in developing areas. In fact, Western Europe will be the slowest growing regional roofing market through 2016.

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World Roofing Market