A new report by Research and Markets forecasts strong world-wide growth over the next five years for roofing manufacturers, including Berkshire Hathaway’s Johns Manville.
The report, “Roofing Systems Market by Material (Asphalt, Metal, Plastic, Clay, Concrete), Product (Shingles & Plates, Tiles), Construction Type (New Construction & Reform Construction), End-Use Sector (Residential & Non-Residential) – Global Forecast to 2021,” notes that the global market for roofing systems is projected to grow from USD 109.72 billion in 2016 to reach USD 157.56 billion by 2021.
The compound annual growth rate is estimated to be a robust 3.06% from 2016 to 2021.
The report cites growth in the construction industry throughout the world as well as government regulations regarding zero energy building codes and green roofing have played a huge role in providing the necessary momentum to the roofing systems market, after the economic slowdown between 2007 and 2009.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.