Impact of COVID-19 on the Global Roofing Materials Market
The COVID-19 pandemic has substantially spread across the globe and has impacted the growth of the global roofing materials market considerably. Governments worldwide have imposed lockdowns, which has affected most of the industrial players across the globe and forced people to stay within their homes, which, in turn, has reduced the physical contact among people. Most companies have allowed employees to work remotely from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hamper the growth of the global roofing materials market over the forecast timeframe. The restrictions imposed on construction activities to comply with the social distancing norms are likely to hamper the growth of the construction industry, which, in turn, is expected to limit the growth of the Global Roofing Materials Market.
Operations in the construction sector have been interrupted due to the COVID-19 crisis across the globe. The shift in consumer preference towards essential products is likely to influence the global roofing materials market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the sealing of international borders, which has caused a severe decline in the demand for roofing materials and related products across the globe. Government authorities worldwide have enforced restrictions on travel. Hence, the market is also expected to be affected due to the decrease in the installation of roofing materials in the construction sector. Additionally, the restrictions on public gatherings along with travel bans in several countries are expected to hinder the growth of the global roofing materials market over the projected period.
Roofing materials are being increasingly adopted in new buildings and construction projects owing to their ability to withstand high corrosion along with high resistance to extreme temperature variations. The increased focus on social distancing and personal care, is likely to affect the demand for construction-related products, including roofing materials over the forecast timeframe. According to MRFR analysis, the covid-19 pandemic have affected the demand for roofing materials severely and the market is expected to gain pace in the Q4 of 2020.