Executive Summary

The global underlayment market is expected to grow at a CAGR of 4.5% from 2021 to 2026. The demand for underlayment materials is driven by the growing construction industry and increasing demand for sustainable and energy-efficient buildings. The roofing segment dominates the market due to the high demand for waterproof and moisture-resistant materials. The residential sector is the largest end-use segment, followed by the non-residential sector. North America and Europe are the largest regional markets, followed by Asia-Pacific. Key players operating in the market include GAF Materials Corporation, Owens Corning, CertainTeed Corporation, Johns Manville, and Carlisle Companies Inc.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global underlayment market is driven by the growing construction industry and increasing demand for sustainable and energy-efficient buildings. The use of underlayment materials in roofing, flooring, and walls provides insulation, noise reduction, and protection against moisture and other elements. The roofing segment dominates the market due to the high demand for waterproof and moisture-resistant materials. The residential sector is the largest end-use segment, followed by the non-residential sector. North America and Europe are the largest regional markets, followed by Asia-Pacific.

Market Analysis

The global underlayment market is expected to grow at a CAGR of 4.5% from 2021 to 2026. The market is driven by the growing construction industry and increasing demand for sustainable and energy-efficient buildings. Underlayment materials are used in various applications such as roofing, flooring, and walls, among others. They provide insulation, noise reduction, and protection against moisture and other elements.

The roofing segment dominates the market due to the high demand for waterproof and moisture-resistant materials. The residential sector is the largest end-use segment, followed by the non-residential sector. North America and Europe are the largest regional markets, followed by Asia-Pacific. The key players operating in the market include GAF Materials Corporation, Owens Corning, CertainTeed Corporation, Johns Manville, and Carlisle Companies Inc.

Market Drivers

The global underlayment market is driven by the following factors:

1. Growing construction industry: The construction industry is a major driver of the underlayment market. The increasing demand for new buildings and infrastructure projects is driving the demand for underlayment materials.
2. Increasing demand for sustainable and energy-efficient buildings: The demand for sustainable and energy-efficient buildings is increasing due to growing concerns about climate change and energy conservation. Underlayment materials play a key role in achieving these goals by providing insulation and reducing energy consumption.

3. Rising demand for waterproof and moisture-resistant materials: The roofing segment is the largest end-use segment in the underlayment market due to the high demand for waterproof and moisture-resistant materials. Underlayment materials provide an additional layer of protection against water damage and moisture.
4. Advancements in technology: The development of new and advanced underlayment materials with improved properties such as higher strength, durability, and moisture resistance is driving the market growth.

Market Restraints

The global underlayment market is restrained by the following factors:

1. Fluctuating raw material prices: The prices of raw materials used in underlayment manufacturing can be volatile and subject to market fluctuations, which can affect the profitability of manufacturers.
2. Stringent regulations: The underlayment market is subject to various regulations related to environmental and safety standards. Compliance with these regulations can be costly and time-consuming.
3. Intense competition: The underlayment market is highly competitive, with a large number of players competing for market share. This can lead to pricing pressures and reduced profit margins for manufacturers.

Market Opportunities

The global underlayment market offers the following opportunities:

1. Growing demand for eco-friendly and sustainable materials: The demand for eco-friendly and sustainable underlayment materials is increasing due to growing environmental concerns. Manufacturers can tap into this market by developing and promoting green underlayment materials.
2. Increasing demand for underlayment in emerging markets: The underlayment market in emerging markets such as Asia-Pacific and Latin America is expected to grow due to the increasing demand for new buildings and infrastructure projects in these regions.
3. Rising demand for lightweight materials: Lightweight underlayment materials are in high demand due to their ease of installation and transportation. Manufacturers can focus on developing lightweight materials to cater to this demand.

Market Dynamics

The global underlayment market is characterized by the following dynamics:

1. Intense competition: The underlayment market is highly competitive, with a large number of players competing for market share. Key players in the market include GAF Materials Corporation, Owens Corning, CertainTeed Corporation, Johns Manville, and Carlisle Companies Inc.
2. Technological advancements: The development of new and advanced underlayment materials with improved properties such as higher strength, durability, and moisture resistance is driving the market growth.
3. Growing demand for sustainable and energy-efficient buildings: The demand for sustainable and energy-efficient buildings is increasing due to growing concerns about climate change and energy conservation. Underlayment materials play a key role in achieving these goals by providing insulation and reducing energy consumption.
4. Fluctuating raw material prices: The prices of raw materials used in underlayment manufacturing can be volatile and subject to market fluctuations, which can affect the profitability of manufacturers.

Regional Analysis

North America and Europe are the largest regional markets for underlayment, followed by Asia-Pacific. The North American market is driven by the growing construction industry and increasing demand for energy-efficient buildings. The European market is driven by the increasing demand for sustainable and eco-friendly materials. The Asia-Pacific market is expected to grow due to the increasing demand for new buildings and infrastructure projects in the region.

Competitive Landscape

Leading companies in the Underlayment Market:

1. USG Corporation
2. James Hardie Industries PLC
3. Armstrong World Industries, Inc.
4. Dow Inc.
5. Saint-Gobain S.A.
6. Schluter Systems L.P.
7. QEP Co., Inc.
8. MP Global Products LLC
9. Leggett & Platt, Inc.
10. H.B. Fuller Construction Products Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Report Segmentation

The global underlayment market can be segmented based on material type, type of application, end-use sector, and region.

Based on material type, the market can be segmented into asphalt-saturated felt, rubberized asphalt, synthetic, and others. Asphalt-saturated felt is the most commonly used underlayment material due to its affordability and ease of installation.

Based on type of application, the market can be segmented into roofing, flooring, walls, and foundations, among others. The roofing segment is the largest end-use segment due to the high demand for waterproof and moisture-resistant materials.

Based on end-use sector, the market can be segmented into residential and non-residential. The residential sector is the largest end-use segment, followed by the non-residential sector.

Based on region, the market can be segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

Category-wise Insights

1. Asphalt-saturated felt is the most commonly used underlayment material due to its affordability and ease of installation.
2. The roofing segment is the largest end-use segment due to the high demand for waterproof and moisture-resistant materials.
3. The residential sector is the largest end-use segment, followed by the non-residential sector.
4. North America and Europe are the largest regional markets, followed by Asia-Pacific.

Key Benefits for Industry Participants and Stakeholders

1. The growing demand for underlayment materials presents an opportunity for manufacturers to expand their product portfolio and increase their revenue.
2. The increasing demand for sustainable and energy-efficient buildings presents an opportunity for manufacturers to develop and promote eco-friendly underlayment materials.
3. The underlayment market offers a high potential for growth in emerging markets such as Asia-Pacific and Latin America.

SWOT Analysis

Strengths:

1. Growing demand for sustainable and energy-efficient buildings
2. Technological advancements in underlayment materials
3. Increasing demand for underlayment in emerging markets

Weaknesses:

1. Fluctuating raw material prices
2. Stringent regulations related to environmental and safety standards

Opportunities:

1. Growing demand for eco-friendly and sustainable materials
2. Increasing demand for underlayment in emerging markets
3. Rising demand for lightweight materials

Threats:

1. Intense competition in the market
2. Economic slowdowns and fluctuations in the construction industry
3. Impact of the COVID-19 pandemic on the market

Market Key Trends

1. Growing demand for eco-friendly and sustainable materials
2. Increasing focus on energy efficiency in buildings
3. Rising demand for lightweight underlayment materials

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the underlayment market. The construction industry has been negatively affected due to the disruption of supply chains and a decline in demand. This has resulted in a slowdown in the underlayment market. However, the market is expected to recover in the post-pandemic period, driven by the growing demand for sustainable and energy-efficient buildings.

Key Industry Developments

1. In March 2021, Owens Corning introduced an underlayment product called TruDefinition Duration FLEX, which provides improved flexibility and durability.
2. In January 2021, GAF Materials Corporation introduced an underlayment product called StormGuard MAX, which provides improved protection against wind-driven rain.

Analyst Suggestions

1. Manufacturers should focus on developing new and advanced underlayment materials with improved properties such as higher strength, durability, and moisture resistance.
2. Manufacturers should tap into the growing demand for eco-friendly and sustainable materials by developing and promoting green underlayment materials.

Future Outlook

The global underlayment market is expected to grow at a CAGR of 4.5% from 2021 to 2026. The market is driven by the growing construction industry and increasing demand for sustainable and energy-efficient buildings. The roofing segment is the largest end-use segment, followed by the flooring and walls segments. The residential sector is the largest end-use segment, followed by the non-residential sector. North America and Europe are the largest regional markets, followed by Asia-Pacific.

The key players operating in the market are focusing on developing new and advanced underlayment materials to cater to the growing demand for sustainable and energy-efficient buildings. The market is expected to offer opportunities for growth in emerging markets such as Asia-Pacific and Latin America. However, the market is restrained by the fluctuating prices of raw materials and stringent regulations related to environmental and safety standards.

Conclusion

The global underlayment market is driven by the growing construction industry and increasing demand for sustainable and energy-efficient buildings. Underlayment materials provide insulation, noise reduction, and protection against moisture and other elements. The roofing segment is the largest end-use segment, followed by the flooring and walls segments. North America and Europe are the largest regional markets, followed by Asia-Pacific.

The market is highly competitive, with a large number of players competing for market share. Key players in the market include GAF Materials Corporation, Owens Corning, CertainTeed Corporation, Johns Manville, and Carlisle Companies Inc. The market offers opportunities for growth in emerging markets such as Asia-Pacific and Latin America.