Global Roofing Tiles Market is Anticipated to Witness Strong Growth Owing to Increasing Demand from Residential Segment
Market Overview
Roofing tiles are important building material used widely in residential and commercial construction for waterproofing and aesthetic roof coverings. Roof tiles are manufactured using materials such as clay, concrete, slate and metal. Clay and concrete tiles are the most popular and affordable roofing materials. Clay tiles have better durability, can withstand extreme weather conditions and adds aesthetic value to roof and exteriors of buildings. Concrete tiles have properties similar to clay tiles and are cost effective. Slate roof tiles provides strength, durability and fire resistance but have higher costs. Metal tiles are also gaining popularity due to their long life span and ability to replicate other material's looks at lower costs. The need for robust and aesthetically appealing roofing continues to drive the demand for roof tiles from residential and commercial construction industry. The Global Roofing Tiles Market is estimated to be valued at US$ 19.77 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Roofing Tiles market are IKO Global, Etex, Standard Industries Inc, Trevis Perkins, Boral roofing, BMI group, Wienerberger AG, Fornace Laterizi Vardanega Isidoro , Vande Hey Raleigh , Eagle Roofing Products, TC Roof Tiles, Jindal Mechno, Kerala Tiles Company, Raja Tiles Company, KPG Roofing, Sri Vijaya Lakshmi Tiles, Sirex, AV Roofing, and Simeyon.
The key opportunities in the market include expanding distribution networks in emerging economies, increasing use of eco-friendly roof tiles, and launching innovative roof tile designs catering to residential and commercial roof aesthetics.
The major global players are expanding their business overseas through acquisitions and partnerships with local players to gain access to high growth markets such as Asia Pacific, Middle East, Africa and Latin America where construction industry is growing rapidly.
Market Drivers
Increasing residential & commercial construction activities across regions is the key market driver. Rapid urbanization and rising disposable incomes are increasing housing construction globally which is propelling the demand for roofing tiles. Additionally, growing rural housing schemes by various governments is also boosting the consumption of roof tiles.
Market Restrain
Volatility in raw material prices can hamper the profit margins of roof tiles manufacturers. Fluctuations in prices of clay, slate and petroleum-based components increases the production costs of roof tiles. Additionally, growing popularity of alternate roofing materials such as metal sheets, membranes, and asphalt shingles pose challenges for traditional roof tiles market.
Segment Analysis
The Roofing Tiles Market Demand is dominated by clay tiles segment. Clay tiles offer durability and longevity. The natural textured finish of clay provides an aesthetic appeal to roofs. Clay tiles have resistance to fire, impact, wind and rain, which makes them suitable for various climatic conditions. Different textures and designs available in clay tiles allow them to blend well with architectural styles of buildings. Advancements in clay tile manufacturing have reduced their costs.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191)
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