Roofing Materials Market Size, Growth Analysis, Leading Players and Forecast 2024-2032
Roofing Materials Industry
Summary:
- The global roofing materials market size reached USD 135.5 Billion in 2023.
- The market is expected to reach USD 192.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest roofing materials market share.
- Asphalt shingles account for the majority of the market share in the product segment due to their cost-effectiveness, ease of installation, and long-lasting performance in a variety of weather conditions.
- New construction represents the leading construction type segment, owing to the growing need for roofing materials in the latest building courtyard and commercial spaces.
- Residential accounts for the majority of the market share in the application segment due to their easy-to-install process.
- The demand for energy-efficient roofing materials and sustainable solutions is a key factor driving the market size, especially in light of growing environmental awareness.
- Urbanization and construction growth, combined with technological advancements in roofing material manufacturing, are major market trends that continue to support the market’s expansion.
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Industry Trends and Drivers:
- Increasing Demand for Sustainable and Energy-Efficient Roofing Solutions:
A significant driver of the roofing materials market size is the growing preference for sustainable and energy-efficient roofing solutions. With rising awareness about environmental sustainability, both residential and commercial property owners are opting for eco-friendly roofing materials that help reduce energy consumption. Products such as cool roofs, solar roofing tiles, and reflective coatings are becoming increasingly popular as they reduce heat absorption and improve energy efficiency. These materials not only help lower cooling costs but also contribute to a reduction in the overall carbon footprint of buildings. As governments and consumers continue to prioritize environmental responsibility, demand for these energy-efficient roofing materials is expected to rise, further driving market growth.
- Rising Urbanization and Construction Activities:
Urbanization and rapid infrastructure development in emerging economies are key factors contributing to the expansion of the roofing materials market trends. The increasing construction of residential, commercial, and industrial buildings requires durable and cost-effective roofing solutions. As cities grow, both in terms of population and infrastructure, the demand for new buildings and the renovation of older structures drives the need for high-quality roofing materials. Materials like asphalt shingles, metal roofing, and concrete tiles are being widely adopted due to their longevity, affordability, and ability to withstand varying weather conditions. The construction boom in developing nations, alongside the modernization of existing structures in developed regions, is a major contributor to the growing demand for roofing materials.
- Technological Advancements in Roofing Material Manufacturing:
Technological innovations in the manufacturing of roofing materials are fueling the growth of the market. The development of lightweight, highly durable, and weather-resistant materials is expanding the range of options available to consumers. For example, advancements in synthetic materials and the introduction of new composite roofing systems have made roofs more energy-efficient, resistant to extreme weather conditions, and easier to maintain. Innovations in roofing technology also include smart roofs that integrate solar panels, sensors, and monitoring systems, offering enhanced energy management and roof health monitoring. As these advancements make roofing materials more versatile and functional, they are expected to drive significant market growth
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Roofing Materials Market Report Segmentation:
Breakup By Product:
- Asphalt Shingles
- Concrete and Clay Tiles
- Metal Roofs
- Plastics
- Others
Asphalt shingles account for the majority of shares due to their affordability, durability, and wide availability, making them the preferred choice for both residential and commercial roofing.
Breakup By Construction Type:
- New Construction
- Reroofing
New construction accounts for the majority of shares due to the increasing demand for residential and commercial building projects that require roofing materials.
Breakup By Application:
- Residential
- Non-Residential
Residential accounts for the majority of shares due to the increasing trend of homeownership, renovations, and new home constructions that prioritize durable and cost-effective roofing options.
Breakup By Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Asia Pacific holds the leading position owing to the increase in the construction sector.
Top Roofing Materials Market Leaders: The roofing materials market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- Atlas Roofing Corporation (Hood Companies Inc.)
- Boral Roofing LLC (Boral Industries Inc.)
- Carlisle Companies Inc.
- CertainTeed Corporation
- Crown Building Products LLC
- CSR Limited
- Eagle Roofing
- Etex
- GAF (Standard Industries Inc.)
- Johns Manville (Berkshire Hathaway Inc.)
- North American Roofing Services Inc
- Owens Corning
- TAMKO Building Products LLC
- Wienerberger AG
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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