Homeowners across the U.S. are spending heavily on renovating their residence interior and exterior, which includes replacing roofing material. This is expected to give a major boost to product demand. Furthermore, commencement of new residential, non-residential and commercial projects is anticipated to drive the roofing underlayment market during the forecast timespan. The roofing underlayment industry size may exceed USD 43.9 billion by 2026.

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Driven by increasing re-roofing activities and construction projects worldwide, the roofing underlayment market is anticipated to depict considerable growth through 2026. Roofing underlayment holds immense significance in the construction sector. It is particularly gaining traction across the U.S. as the region continues to experience harsh climatic conditions.

The application spectrum of roofing underlayment market is divided into residential, non-residential and commercial construction. Of these, the commercial construction sector is expected to hold a market share of 24% in 2026. Exponential rise in urbanization and increase in commercial construction activities may support product traction in this sector. For example, growth in e-commerce businesses are giving a big boost to the warehouse construction, which in turn is anticipated to give a push to the deployment of roofing underlayment in the coming years.

The roofing underlayment market of Europe was accounted at over USD 7 billion in 2019 and is expected to grow further over the forecast period given to increasing construction activities as well as strict regulations over building energy efficiency. Asia Pacific meanwhile has been one of the largest market for roofing underlayment due to growing urbanization.

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Elaborating on product type, the roofing underlayment market for non-bitumen synthetic underlayment is expected to grow by 5.1% over the forecast period. Rising awareness regarding product features like lightweight, high strength, are resistant to fungal growth as well as its wrinkle free nature may support segment growth. Such features make non-bitumen synthetic underlayment more preferred over traditional roofing underlayment.

However, due to COVID-19 pandemic, demand from the construction industry is expected to be low in 2020. In India, the government has stopped all roofing and construction activities till the situation improves. Globally too, less cash flow and lack of investments have impacted product demand, but the market is expected to gain momentum as the pandemic subsides.

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The competitive landscape of roofing underlayment market comprises of industry players such as Atlas Roofing, Braas Monier Building Group, DowDuPont, among others. These companies have been focusing on enhancing their position in the market by means of various tried-and-tested strategies such as M&As and product launches. Highlighting an instance, in 2020, roofing and waterproofing systems company, Polyglass USA developed a new dual-purpose roof underlayment called Polystick XLR that offers waterproofing as well as fire-resistance across high-temperature applications.

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By sagar.g