Roofing Material Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The Latin America Roofing Material market reached a value of about USD 6.21 billion in 2021. The industry is projected to grow at a CAGR of around 3.3% in the forecast period of 2022-2027 to reach a value of about USD 7.54 billion by 2027.

The Latin America Roofing, Material industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising construction activities in the region are driving the market's expansion. Brazil and Argentina are the highest category spender by region, driving the Roofing Material industry demand.

Industry Definition and Segmentation

Roofing is the process of adding an exterior covering to a building's roof. Materials for building roofs are necessary for foundations and homes. Roofing materials must meet both technical and financial criteria. The outer coating may be maintained by systems underneath it or may be self-supporting. The Roofing Material industry report comprises segments by Type (Asphalt Shingles, Metal, Concrete, and Clay Tiles, Elastomers and Plastic, and Others), Application (Residential and Non-Residential), and Country (Brazil, Argentina, Mexico, and Others).

Brazil, Argentina, and Mexico Regions are Driving the Growth of the Industry

Brazil and Argentina are the critical areas in the region driving the industry's expansion owing to the advancing construction and manufacturing activities.

The industry is being propelled by the expanding construction activities in the region. The rate of construction is rapidly expanding significantly in Brazil and Argentina, making them a critical market for manufacturing and further boosting the market demand. In addition, tiles and shingles roofing materials are gaining popularity because of their superior insulating capabilities and affordable price, further supporting the industry growth. Furthermore, the increasing demand for roofing materials in the residential sector is significantly boosting the industry. Also, other factors such as rapid urbanisation, growing disposable incomes, and a consumer shift toward the need to renovate are all critical factors that are likely to impact the market positively.

Best Procurement Practices

The Latin America Roofing Material industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major Latin America Roofing Material regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

The outermost layer of a building's roof is its roofing material, which is occasionally self-supporting but is often supported by an underlying structure. The roofing material of a structure protects it from the elements. Depending on the material's availability and the supporting structure, a roof's outer layer might vary considerably. The various roofing materials that are commercially accessible range from naturally occurring materials like thatch and slate to manufactured materials like tiles and polycarbonate sheets. A secondary water-resistant substance known as underlayment may be topped with roofing materials.

Integration of Technology, Further Driving the Latin America Roofing Material Market

The advancements are aiding the industry in technology in the sector. Developing reflective coatings that may be applied to dark-coloured roofing materials propels the industry. In addition, Reflective coatings minimise the overall energy consumption of building structures and offer exceptional heat reflection characteristics. Hence, the market is likely to witness increased sales owing to the following properties like improved dependability, attractiveness, and ease of installation. Additionally, with the introduction of more cutting-edge tools, like drones, which are utilised to inspect rooftops, the industry is expected to expand. Also, the increasing use of 3D printing technology to construct various structural components of roofing systems is further aiding the market's expansion.

The regional markets for the industry can be divided into Brazil, Argentina, and Mexico.

Key Industry Players Mentioned in the Roofing Material Industry Report

• BMI Group
• Owens Corning
• Etex SA
• Megaflex Ltd.
• Dextra Group

Market Landscape

The existence of several small- and large-scale suppliers in the market contributes to the industry's moderate level of concentration. The market is expanding due to the growing need for accurate and dependable roofing solutions. To meet the rising customer demand, industry participants strongly emphasise growing their product range by creating novel solutions and more affordable goods with better qualities in the market for roofing materials.

Key Initiatives by Companies

• June 21, 2022- The pioneering Cortland, Illinois-based spray polyurethane foam insulation producer for building and construction applications, Natural Polymers, LLC, has signed a contract to be acquired by Owens Corning. The acquisition will be completed in the third quarter, subject to regulatory clearances and other usual circumstances.