Roofing tiles market to grow at 6.96 per cent
The analysts forecast global roofing tiles market to grow at a CAGR of 6.96 per cent during the period 2016-2020. According to the 2016 roofing tiles market report, a key growth driver is the increased construction in the residential sector. The increasing sales of homes and construction of new buildings in developing countries such as China, South Korea, India, and countries in the Middle East, coupled with the increasing construction of skyscrapers worldwide, will impact the roofing tiles market globally. The advanced attributes such as durability and cost-efficiency will drive its demand in the roofing tiles market. China accounts for the majority share of the demand for roofing tiles owing to its fast-growing construction market. Rapid urbanization and industrialization, rising income levels, an increase in population and household income growth, and the government's continuing efforts to expand and upgrade the physical infrastructure are some of the factors that will boost the demand for roofing tiles in China during the forecast period. There has been a significant increase in the adoption of green technology in the manufacture of roofing tiles market. Companies are implementing green building and energy-efficient technologies in the foundation, structure, roofs, and windows of buildings to bring about energy efficiency. As roofing comprises a major area of a building, it will result in the adoption of practices like using fly ash in roofing tiles by companies worldwide.
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