Global demand for roofing materials is forecast to rise 2.9 percent per annum through 2020 to 13.8 billion square meters, valued at $124 billion. An expected recovery in roofing demand in the US and other developed regions will offset decelerating growth in the massive Chinese market and, to a lesser degree, in other developing markets.
China accounted for 29 percent of the global total in 2015, and construction spending and housing completions will continue to slow down there. Still, it remains the world's largest market. Other conclusions in the report, "World Roofing:"
- The Africa/Mideast region will continue to see the most rapid growth of any region through 2020.
- The U.S. roofing market will continue its recovery from the economic recession, while demand for roofing products will return to growth in Europe after an extended period of decline.
- The mix of roofing materials varies by country and region, but in general bituminous and tile roofing are the most popular, accounting for two-thirds of the global market last year.