India Roofing Market Outlook – Industrial and Infrastructure Developments Driving Growth
New York, NY, September 01, 2013 –(PR.com)– Global market intelligence firm, Netscribes, Inc. has released its latest report on the "Roofing Market in India 2013." The growing domestic construction industry and the booming industrial sector are together seen as the major driving forces behind the increased demand for roofing products in India.
Netscribes’ latest market research report titled Roofing Market in India 2013 depicts the current status of the roofing industry with a special focus on the asbestos, tile and metal roofing segments. Currently, the roofing industry is preparing for the next generation of roofing products, helped by infrastructural and industrial growth. Airports, metro rails, Special Economic Zones, industrial cities and IT parks have initiated the need for enhanced construction technology.
Urban consumers are gradually shifting from conventional roofing systems to high quality, more technically advanced roofing systems based on their respective purchasing capacities. Asbestos roofing is becoming increasingly popular in the rural areas owing to the rise in rural income that is supported by government initiatives such as the Mahatma Gandhi National Rural Employment Guarantee Act which promises employment generation for low-income individuals. Affordable housing programs also aid in demand generation for the roofing industry.
The emerging concept of pre-engineered buildings (PEBs) provides a huge opportunity that the metal roofing players can capitalize upon. Manufacturing industries such as power, automobiles, and engineering goods and services, including logistics, warehouses and infrastructure, are large users of PEBs. Presently India’s per capita steel consumption is around 45-50 kg which is way lower than the world average of 175 kg, thereby signifying the massive expansion opportunity for the steel roofing industry, which can also be attributed to the increased level of construction activities across the country.
However, the lack of skilled labor force required for roofing installation and maintenance adversely impacts the roofing market. Further, the presence of unorganized players offering roofing products at relatively low prices poses a major threat to the organized segment of the industry. Currently, there is a prominent trend of installed production capacity expansion, mainly with regard to asbestos roofing sheets, by major players such as Everest, HIL, Ramco and Visaka, which validates the optimistic outlook held by industry experts for the domestic roofing market.
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