New from Freedonia Group: Demand for Roofing in China to Reach 2.2 Billion Square Meters in 2008
CLEVELAND--(BUSINESS WIRE)--Jan. 4, 2005--Demand for roofing materials in China is forecast to rise 4.6 percent per annum through 2008 to 2.2 billion square meters. Measured in yuan, roofing demand is expected to climb more than ten percent annually to 39.8 billion yuan. The Chinese roofing market will experience the fastest growth among major economies in the world, driven by strong gains in the country's building construction activity. These and other trends are presented in Roofing in China, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Concrete and clay tiles and bituminous roofing represent by far the dominant roofing materials in China, accounting for nearly 95 percent of demand in 2003, measured in square meters. However, elastomeric (especially ethylene propylene diene monomer) and plastic (thermoplastic polyolefin and polyvinyl chloride) membranes are expected to enjoy some of the strongest market gains through 2008, as they continue to make inroads against conventional built-up roofing (BUR) and asphalt rolls. Among bituminous roofing products, modified bitumen membranes and asphalt shingles will enjoy particularly good prospects.
Demand for roofing in the nonresidential building market will increase 5.0 percent annually through 2008, a faster pace than in the residential building market. The nonresidential building market will benefit from continuing industrialization and sustained strength in foreign direct investment in China. In the residential building market, gains will benefit from the government's continuing efforts to raise average per capita living space, as well as from further increases in private home ownership and rising per capita income levels. In addition, China's Flat to Slope Conversion Project will further spur demand gains for residential roofing. The project, which is targeted mostly at residential apartment buildings, is expected to be implemented in numerous cities in China. It seeks to replace existing flat roofs with steep slope roofs, in order to resolve leakage issues as well as improve the buildings' aesthetic appeal.
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