Roofing Underlayment Market Analysis

Roofing Underlayment Market Analysis

The asphalt-saturated felt segment accounted for more than 52% of the roofing underlayment market share in 2020. Roofing underlayment is used for its various properties such as protecting the sheathing from moisture absorption & adding weather protection by obstructing the entry of wind-driven rain below the shingles and into the house. Furthermore, asphalt-saturated felt is used in both residential housing complexes and commercial spaces.

The roofing underlayment market from residential construction is set to exceed USD 29 billion by 2027. Global residential construction is growing at an unprecedented rate and is estimated to keep growing. According to the World Green Building Council, the world is projected to build over 230 billion square meters in new construction. With the start of new constructions, permits and completions that were stuck up over the last few years are being cleared. Growth in residential construction is impelled by the growing population, the settling down of millennials, and the rising employment & income levels. Mortgage interest rates and migration will contribute to the segment growth.

Asia Pacific roofing underlayment market size is forecast to register growth rate of around 6% through 2027. Emerging markets in Southeast Asia, increasing private investments, and growing business activities in the region will further boost the construction industry size. It is becoming increasingly aware of the significance of roofing components owing to increased adverse climatic conditions, such as heavy rainfalls, cyclones, and increased moisture in the air across coastal areas, and hazardous climatic mishaps. Rapid industrialization in Asia Pacific is enhancing building & construction activities for commercial purposes.