Roofing Underlayment Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028

Market Highlights

Roofing underlayment plays a vital role in roof construction by providing an additional protective layer between the roof deck and the shingles or roofing materials. Its primary purpose is to serve as a waterproof barrier, effectively preventing water infiltration and safeguarding the underlying structure against potential damage caused by leaks or moisture. Moreover, roofing underlayment enhances the overall durability and lifespan of the roof by acting as a reliable defense against wind-driven rain, ice dams, and various external elements. Additionally, it can contribute to energy efficiency by offering insulation and thermal resistance properties. Common materials used for roofing underlayment include asphalt-saturated felt, synthetic options like polyethylene or polypropylene, and rubberized asphalt membranes.

Over the years, roofing underlayment has witnessed shifts in materials, from traditional asphalt-saturated felt to synthetic options, offering improved durability and weather resistance. The introduction of self-adhesive membranes revolutionized installation methods, eliminating the need for fasteners or torches. Energy efficiency gained importance with the use of reflective underlayment and radiant barriers, reducing heat transfer and enhancing energy conservation. These historical shifts have led to advancements in performance, ease of installation, and sustainability in roofing underlayment.

Roof underlayment demand is driven by various factors, including aging construction infrastructure, a surge in housing starts, a heightened focus on energy efficiency in buildings, and a growing need for roofing solutions that provide exceptional durability and longevity. The global Roofing Underlayment Market is estimated to grow at an adequate CAGR of 3.4% during the forecast period to reach a value of US$ 8.9 billion in 2028. Underlayment is becoming an essential roofing accessory product across the world. Roofing underlayment trends include a strong emphasis on moisture and ice barriers with advanced waterproofing capabilities, a focus on durability and longevity through materials that can withstand harsh weather conditions, an increasing demand for energy-efficient underlayment with insulation properties, a growing interest in sustainable options, and installation advancements for eco-friendly and efficient roofing solutions.

Recent Market JVs and Acquisitions

The market has recorded a good number of M&A activities over the years. There have been some notable acquisitions over the past few years, with the acquisition of GCP Applied Technologies by Saint-Gobain in 2022 being a major one. The acquisition led to the integration of the GCP business across the CertainTeed and Chryso businesses of Saint-Gobain, with the waterproofing and specialty building materials businesses being merged with the CertainTeed business.

Market Segments’ Analysis

Among material types, asphalt holds a larger share of the global roof underlayment market; however, it is continued to be poised to cede market share to synthetic one. Among asphalt types, organic asphalt underlayment holds a larger market share in comparison to fiberglass asphalt underlayment. This is because organic asphalt contains 40% more asphalt than fiberglass, resulting in a thicker and more durable underlayment. However, it is worth noting that fiberglass underlayment is considered more environmentally friendly. Synthetic roof underlayment presents a cutting-edge substitute for traditional asphalt-based underlayment, delivering exceptional durability, moisture resistance, and performance capabilities. Its lightweight nature simplifies the installation process, and its eco-friendly composition adds to its appeal in the market.

Based on the end-user type, the market is segmented into residential construction and commercial construction. Residential construction is anticipated to remain a frontrunner. Sloped roofs, commonly found in residential builds, demand underlayment solutions with specific features to ensure a seamless and effective installation process.

Based on the installation type, the market is segmented into Self-adhesive, and Mechanically Fastened. Self-adhesive underlayment dominates the market, driven by superior moisture or water resistance and enhanced durability, making it a popular choice. Furthermore, ease of installation, increasing demand for waterproof underlayment, and lightweight construction are substantiating the segment’s growth.

In terms of regions, Asia-Pacific is expected to remain the largest market for roof underlayment over the forecast period. In addition to that, the region is also likely to witness the highest growth in the coming years. Major factors, such as increasing construction activities owing to rapid urbanization and industrialization, promising growth in the economy, a shift of manufacturing industries from Western Economies to Asian economies, and mandates of building and energy codes, are driving the growth of the roof underlayment market in the region. China, India, South Korea, Japan, and India are the key economies playing a vital role in the region’s market.

The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc.

Some of the key players catering to the market are as follows:

• Owens Corning
• Saint-Gobain
• GAF
• DuPont
• Atlas Roofing
• Carlisle Companies, Inc.
• IKO Group
• Soprema SA

Research Methodology

This strategic assessment report provides a comprehensive analysis that reflects today’s Roofing Underlayment Market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with the analyst's internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. The analyst conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The roofing underlayment market is segmented into the following categories:

Roofing Underlayment Market, by Material Type

• Asphalt Roofing Underlayment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Synthetic Roofing Underlayment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Roofing Underlayment Market, by End-Use Type

• Residential Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Commercial Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Roofing Underlayment Market, by Installation Type

• Self-Adhesive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Mechanically Fastened (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Roofing Underlayment Market, by Construction Type

• New Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Repair & Remodeling (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Roofing Underlayment Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, South Korea, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)