Portland, OR, Jan. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global metal roofing market generated $23.8 billion in 2020, and is estimated to reach $33.5 billion by 2030, witnessing a CAGR of 3.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for metal roofing with its benefits in different industries and support from governments for construction projects drive the growth of the global metal roofing market. However, availability of alternatives restrains the market growth. On the other hand, growth of the construction industry in developing countries presents new opportunities in the coming years.
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Covid-19 Scenario:
- Owing to lockdown measures implemented in different countries during the Covid-19 pandemic, there has been stoppage of construction activities and new projects. This impacted the demand for metal roofs in the construction industry.
- There have been disruptions in the manufacturing activities of metal roofs due to raw material shortage, unavailability of laborers, and supply chain disruptions during the lockdown. However, the manufacturing activities will get back on track post-lockdown.
The report offers detailed segmentation of the global metal roofing market based on metal type, product type, end-user, and region.
Based on metal type, the steel segment accounted for the largest share in 2020, contributing to more than two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. However, the zinc segment is expected to witness the highest CAGR of 4.4% from 2021 to 2030.
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Based on end-user, the commercial segment contributed to the largest share in 2020, accounting for nearly two-fifths of the total share of the global metal roofing market, and is projected to continue its dominance during the forecast period. However, the residential segment is estimated to manifest the highest CAGR of 4.2% from 2021 to 2030.
Based on region, Asia-Pacific held the highest share in 2020, contributing to nearly two-fifths of the total market share, and is estimated to continue its leadership status by 2030. Moreover, this region is projected to register the fastest CAGR of 3.9% during the forecast period.
List of companies profiled of the global metal roofing market analyzed in the research include Metal Sales Manufacturing Corporation, Ideal Roofing Co. Ltd., Jinhu Color Aluminum Group, Central States Mfg, Boral Roofing, MBCI, Lifetite Metal Products LLC, ATAS International, Inc., McElroy Metal, and Aditya Profiles.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
