Between 2013 and 2023, the market for roofing asphalts and pitches, coatings, and cements in the US exhibited a general upward trend, with a significant spike in 2014. The value in 2023 stood at 3.2103 billion USD. The period saw varied year-on-year fluctuations, with the highest increase of 50.34% in 2014 and occasional declines, notably a -10.22% dip in 2015. The average CAGR over the last 5 years was 3.07%, indicating stable growth.
From 2024 onwards, forecast data suggests a continued growth trajectory with an anticipated average annual growth rate of 2.07% over the next five years, indicating a total growth rate of 10.79% by 2028.
Future trends to watch include the impact of environmental regulations on manufacturing processes and product formulations, advancements in roofing technologies, and potential market shifts due to economic conditions or changes in construction industry dynamics.
