Roofing Materials Industry Overview
The global roofing materials market size is estimated at USD 120.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. Increasing expenditures in the renovation and redevelopment of commercial and residential building are expected to propel market growth.
The global construction sector is undergoing limited growth as a consequence of the economic recession caused by the COVID-19 crisis, which has resulted in low investor confidence and a decline in construction activities, as a result, the market has also experienced a catastrophic setback.
Gather more insights about the market drivers, restrains and growth of the Global Roofing Materials Market
The spread of the COVID-19 in the U.S. affected the growth of the engineering and construction industries. The increasing costs of construction materials and equipment, along with supply chain disruptions, are the major factors limiting the growth of this industry. However, the use of aerial measurement and 3D modelling technologies had increased during the pandemic, which supported the market growth.
According to the State of the Industry Report for Roofing Contractors, U.S., roof replacements in North America accounted for a share of approximately 94% of the overall roofing projects in 2020. Several properties in North America and Europe are more than 25-30 years old. Hence, they are expected to undergo roof replacements in the coming years.
The advent of reflective coatings that can be applied to dark-colored roofing materials is expected to have a positive influence on the industry. Reflective coatings have excellent heat reflection properties and help to reduce the overall energy consumption of the building structure.
The power of suppliers is expected to be moderate owing to the presence of a large number of suppliers of raw materials in the market used for developing various roofing materials. A diversified product range, coupled with high-quality services, is anticipated to play a crucial role for suppliers to attain a competitive edge in the market.
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
- Green Roof Market - The global green roof market size was valued at USD 1.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 17% from 2020 to 2027. A Green roof, also known as a living or vegetated roof, incorporates multiple layers, such as waterproofing membrane and protective layer, on the traditional roof. Rising awareness about these systems across various application areas is driving the growth of this market.
- Waterproofing Membranes Market - The global waterproofing membranes market size was estimated at USD 22.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030. Growing demand from the waste and water management sector coupled with the increasing development in water conservation infrastructure is anticipated to positively impact market growth.
Roofing Materials Market Segmentation
Grand View Research has segmented the global roofing materials market on the basis of product, application, and region:
Product Outlook (Volume, Billion Square Feet; Revenue, USD Billion; 2017 - 2030)
- Asphalt Shingles
- Concrete Clay Tile Roofs
- Metal Roofs
- Plastic Roofs
- Others
Application Outlook (Volume, Billion Square Feet; Revenue, USD Billion; 2017 - 2030)
- Residential
- Non-residential
Regional Outlook (Volume, Billion Square Feet; Revenue, USD Billion; 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa
Key Companies profiled:
Some prominent players in the global roofing materials market include
- GAF Materials Corporation
- Atlas Roofing Corporation
- Owens Corning
- TAMKO Building Products, Inc.
- CSR Ltd.
- Carlisle Companies Inc.
- Crown Building Products LLC
- Metal Sales Manufacturing Corporation
- Wienerberger AG
- Etex
- CertainTeed Corporation
- Johns Manville
- Fletcher Building Limited
- Eagle Roofing Products
- Boral Roofing
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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