Global Roofing Materials Market Size Ascendance: Anticipating USD 168.07 Billion Growth by 2030 With 4.32% CAGR

New York, NY, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Roofing Materials Market By Products (Plastics, Metal Roofs, Concrete & Clay Tiles, And Asphalt Shingles), By Types Of Constructions (Reroofing And New Construction), By Applications (Residential And Non-Residential), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Roofing Materials Market size & share in terms of revenue was valued at USD 119.86 Billion in 2022 and it is expected to surpass around USD 168.07 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.32% during the forecast period 2023 to 2030.”

What are Roofing Materials? How big is the Roofing Materials Industry?

Roofing materials encompass the construction elements employed for crafting the outermost layer of roofs in commercial, industrial, and residential spaces. The process involves a diverse range of materials, including plastic, elastomers, metals, clay tiles, concrete, bituminous substances, and more. These roofing materials confer various benefits to structures, such as waterproofing and temperature regulation, among others.

Roofing Materials Report Coverage & Overview:

Roofing materials refer to the substances employed for the uppermost layer of roofs in residential, commercial, or industrial buildings. These encompass a variety of options, including concrete and clay tiles, bituminous materials, elastomers, metals, and plastics. These materials confer several advantages to the construction, such as effective temperature management and water resistance.

Factors such as increased disposable income, enhanced affordability, and simplified access to financing have spurred homeowners to allocate more resources toward home restoration and maintenance. The growing interest in home renovation and the enhancement of structural aesthetics present numerous opportunities for bolstering product sales. This trend is anticipated to be reinforced by stringent energy-efficient home regulations and a rising consumer affinity for environmentally-friendly buildings, thus driving product adoption in the foreseeable future.

Furthermore, the industry is poised to benefit from advancements in reflective coating techniques that can be applied atop dark-colored roofing materials. These coatings possess exceptional heat reflection properties, contributing to reduced overall energy consumption within the building. The market's growth is expected to be driven by the attractiveness, durability, and ease of installation associated with these coated materials.

As the domain evolves, the integration of 3D printing technology to produce various roofing structural components is projected to amplify the demand for roofing materials during the forecasted period.

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Global Roofing Materials Market: Growth Dynamics

Metal roofing is poised for rapid expansion, driven by an escalation in wildfire occurrences. Renowned for its exceptional fire-resistant properties, metal roofing has become a favored choice to align with contemporary fire codes and to fortify structures against potential infernos. This roofing option comes in a variety of materials, including copper, aluminum, stainless steel, and zinc, available in two primary forms: panels and shingles. Among these, cost-effective options like galvanized steel and aluminum are prevalent.

Noteworthy for its longevity, metal roofing outlasts many other materials, standing as a durable choice. It adeptly harnesses the sun's UV rays, ensuring a cooler internal environment during scorching summer months. Furthermore, metal roofing contributes an added layer of insulation, ensuring consistent temperatures and comfort throughout both winter and summer seasons. The surge in metal roofing sales has become particularly evident in commercial construction and residential refurbishment endeavors. Esteemed architects and property owners have embraced metal roofing as an enduring and dependable solution within the roofing realm. Its lightweight nature, in comparison to bituminous shingles or tiles, alleviates structural stress while also boasting qualities such as fire resistance and minimal maintenance requirements.

The global construction industry, a prominent consumer of raw materials, holds a pivotal role in the market. Projected to maintain a 4.32% annual growth rate in market value, this industry's progress is rooted in the expansion of residential, non-residential, and infrastructure projects. In Europe, the construction sector is experiencing an upswing, attributed to advancements in residential, non-residential, and civil engineering domains.

Nevertheless, the construction arena is not immune to the impact of COVID-19-induced shutdowns. Even ventures permitted to continue operations face indirect repercussions. The disruption is aggravated by the importation of construction materials from nations grappling with the pandemic, leading to factory closures and a supply chain strain.

Undoubtedly, a building's roof stands as a vital structural component, providing protection while enhancing aesthetic appeal. This crucial element consists of an intricate interconnection of diverse materials, engineered to deliver weatherproof fortification. Beyond waterproofing, roofs act as shields against rain, heat, snow, and various environmental elements. The array of roofing materials varies, contingent upon factors such as roof design, location, and purpose—whether for commercial or residential applications. Bituminous shingles are popular in residential contexts for their affordability and commendable lifespan. Meanwhile, commercial constructions often feature metal, EPDM, and built-up roofs, a preference amplified by the prevalence of flat roofs in such settings.

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Report Scope

Roofing Materials Market: Segmentation Analysis

Categorized by materials, the market is divided into bituminous, tile, metal, elastomeric, and other segments. Notably, the bituminous segment holds a substantial market share and is projected to sustain its leading position over the forecast period. Among these, bituminous shingles stand as a prominent choice for residential roofing due to their cost-effectiveness and ease of installation. These shingles can incorporate reinforcements like fiberglass or synthetic materials, all while preserving their original appearance.

Clay and concrete tiles introduce texture and aesthetic appeal to architectural structures. Flat and ribbed clay tiles exemplify robustness and sturdiness, often recommended for secure installation due to their substantial weight. On the other hand, concrete tiles offer versatility and affordability compared to authentic clay, yet they also bear a significant weight.

Anticipated to experience rapid growth in the projected timeframe, the metal roof segment offers heightened resilience against harsh climatic conditions. Distinguished by their resistance to severe weather, metal roofs come in various materials such as aluminum, copper, stainless steel, and zinc. These roofing options are available in two primary forms: panels and shingles. When properly installed, metal roofing can endure the lifespan of the building, adeptly repelling water, enduring strong winds, and efficiently shedding snow.

In 2021, the residential application segment dominated the market, accounting for higher percentage of worldwide revenue

The global Roofing Materials market is segmented as follows:

By products 

• Plastics
• Metal Roofs
• Concrete & Clay Tiles 
• Asphalt Shingles

By Types Of Constructions 

• Reroofing  
• New Construction 

By applications 

• Residential 
• Non-Residential

Browse the full “Roofing Materials Market By Products (Plastics, Metal Roofs, Concrete & Clay Tiles, And Asphalt Shingles), By Types Of Constructions (Reroofing And New Construction), By Applications (Residential And Non-Residential), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/roofing-materials-market

Competitive Landscape

Some of the main competitors dominating the global Roofing Materials market include - 

• IKO Industries Ltd
• Braas Monier Building Group
• Johns Manville
• TAMKO Building Products LLC
• Atlas Roofing Materials Corporation
• Owens Corning
• CertainTeed Corporation
• Carlisle Companies Inc.
• Boral Ltd.
• Owens Corning
• GAF Materials Corporation.
• Fletcher Building Limited
• Metal Sales Manufacturing Corporation
• Wienerberger AG
• Etex
• IKO Industries Ltd
• Carlisle Companies Inc.
• Crown Building Products LLC
• Braas Monier Building Group

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Roofing Materials market is likely to expand at a CAGR of around 4.32% during the forecast period (2023-2030).                  
• In terms of revenue, the Roofing Materials market size was valued at around US$ 119.86 Billion in 2022 and is projected to reach US$ 168.07 billion by 2030.
• Based on product type segments, the plastic roof segment is projected to grow linearly, during the forecast period.
• Based on application segmentation, In 2021, the residential application segment dominated the market, accounting for higher percentage of worldwide revenue
• On the basis of geography/region, the “Leading region” region was the leading revenue generator in {2019}.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Roofing Materials industry?
• What are the main driving factors propelling the Roofing Materials Market forward?
• What are the leading companies in the Roofing Materials Industry?
• What segments does the Roofing Materials Market cover?
• How can I receive a free copy of the Roofing Materials Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Products, By Application, By Types Of Constructions, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia Pacific region commands the largest share within the global roofing materials market, attributed to the swift pace of urbanization and industrialization in the area. Notably, major economies like India and China are experiencing substantial industrial sector expansion. The region's marked surge in investment for both new construction and renovation endeavors has considerably elevated the demand for roofing materials. Additionally, the burgeoning need within the residential sector is poised to provide an added impetus to the regional market.

In North America, a remarkable growth trajectory is anticipated throughout the forecast period, fueled by incessant technological advancements in roofing material technology. This region's dedicated focus on research and development activities is poised to further invigorate robust growth within the regional market in the foreseeable future.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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