Roof Cover Boards Market Forecast and CAGR
Roof cover boards are kind of planks that are put between the membrane layers and insulation layers on a roof system and can be built of a number of materials. The market of these boards has grown at a decent pace during 2016-2020 and is expected to grow at a moderate CAGR of 5.8% during the forecast years.
Cover boards have become widely used roof component that provides a number of features to households as well as commercial spaces. They are regularly employed to enhance durability to roof systems and have become a globally recognized roof component that contributes a range of features to roof design.
This detailed research is intended to provide readers a complete grasp of industry dynamics. The report also includes many decision-making frameworks that can assist industry players in making data-driven decisions on growth, expansion, acquisition, and capacity expansion.
What is Driving Demand for Roof Cover Boards Market?
A new roof systems is an investment in the safely of a building structure, its materials, and its people from any kind of hazards or miss happening.
The primary reason driving the market is the need to construct a roof system that can withstand mechanical, natural, and human-caused wear and tear. It adds the durability to the system along with providing the thermal resistance. It is also used as vapor barrier in the system.
Cover boards also act as a fire barrier, keeping the roof safe from the elements. Insulation is extremely flammable, and cover boards providing additional layer of protection to keep the insulation from igniting in the event of a fire. As a result, building are safer since fires are less likely to spread from one to the next.
Cover boards also contribute to a roof assembly’s wind uplift value by offering a sturdy support, with a top layer of protection and avoids any potential damage that may occur due to inclement weather.
Roof cover board contribute more to a roofing system in commercialized spaces than just providing performance. They can make installation easier by providing a level and adequate base for the membrane. In re-roofing situations, cover boards can be put directly on an existing roof system to provide a suitable substrate for the new roof system.
Cover board exist in a range of composition adapted to a variety of uses, just as they are intended to defend against numerous possible hazards. With so many options for cover boards, picking the right one can be difficult at first. The process become easier if the desired outcome is kept in mind.
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Gypsum Fiber Board to Dominate the Market
The walls, ceilings, exterior cover casing, fire resistant structures, and membranes are all made of gypsum boards. In the residential sectors, singe-layer gypsum boards are the most frequently used.
The demand for these boards in the house making is growing rapidly due to their low cost and shorter construction time. Besides, rising building operations in emerging economies, as well as rising population in many nations, this sector will have additional prospects in the future.
Despite of the increase in demand around the world, there is still a scarcity of housing, presenting a significant potential for the investors and developers to adopt alternative construction methods and new collaborations in order to accelerate the growth.
This gives rise to the increase in gypsum board sales altogether. Further, it is projected to register a CAGR of 6% during the forecast period as companies that service gypsum board provide consumers with sturdy housing models while adhering to all essential building rules and regulations.
Asia Pacific Region Roof Cover Boards Market Outlook
Due to the rising number of households and residential buildings in China and India, the Asia Pacific region is likely to see the greatest growth in the residential sector. Countries such as China and India, and number of Southeast Asian countries lead the low cost house construction sector in the this region, which trickles down to increasing the sales of these boards in the region.
The demand for roof cover board in the residential sector is predicted to rise across the Asia Pacific region during the forecast period, owing to rising middle-class population and residential building developments, as well as government initiatives and investments.
Hence, in the medium term, increasing investment in the construction sector in developing countries of the region and renovation in the various developed countries are poised to remain the key market drivers.
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North America Region Roof Cover Boards Market Outlook
North America dominated the global marketplace, with the United States accounting for the majority of consumption in the roof cover board demand. Besides, Canada’s residential as well as commercial sectors are expanding at a rapid pace, owing in the large part to government programs and increased immigrations has led the roof board sales to the greater heights in the region.
Furthermore, changing lifestyles and rising need for ecological, cost effective, and sturdier structures, are driving the demand for roof cover board market. This expansion is linked to the region’s transformation from a natural resource-based economy to a more high-tech, service-based economy. Owing to these factors, North America is expected to maintain its dominance among all other regions in the forecast period.
Who are the Key Players Present in Roof Cover Boards Market?
Some of the leading manufacturers and suppliers are
- Carlisle SynTec Systems
- Versico Roofing System
- Hunter Panels LLC
- Blue Ridge Fiberboard
- Rmax Operating LLC
- Continuus Materials LLC.
With many global and regional players, the market is fiercely competitive in nature. To strength their position in the industry, major players are pursuing strategies such as geographic expansion and products portfolio expansion. Companies are concentrating their efforts on raising awareness about environmentally friendly and zero-waste goods. To meet customer demand, they are expanding their business across different regions. Such initiatives adopted by the player aid in fostering the market development during the forecast era.
An Adaptive Approach to Modern-day Research Needs
The roof cover board market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Roof Cover Board Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Based on product type, the market is segmented into:
- Gypsum Fiber
- Wood Fiber
- High-Density Polyiso
- Mineral Fiber
Based on application, the market is segmented into:
Based on region, the market is segmented as
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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