PUBLISHER: Allied Market Research | PRODUCT CODE: 1446910
PUBLISHER: Allied Market Research | PRODUCT CODE: 1446910
The global steel roofing market was valued at 10,720.3 million in 2020 and is projected to reach $17,541.7 million by 2032, registering a CAGR of 4.2% from 2023 to 2032. A steel roof is a part of the roof covering that forms a physical separation between the interior and exterior of a building and is designed to resist wind, moisture, heat, and sound. The roof also helps support the structure and contributes greatly to the overall aesthetics of a building.
The global population along with globalization is rising at a significant rate. Various organizations such as United Nations and The World Bank have estimated that the world population will reach above 9.5 billion in 2050, from about 8 billion in 2022. This will increase the demand for residential and commercial buildings across the world, especially in developing nations such as China. India, Brazil, South Africa, and others. Moreover, a rise in awareness regarding the benefits of steel roofs is also driving the market growth. Custom steel roofing provides homeowners with a cost-effective and durable solution. Requiring minimal maintenance and boasting a lifespan exceeding 30 years, steel roofs save on annual maintenance costs. They act as a protective barrier against water, wind, and fire damage, averting potentially significant repair expenses. The energy-efficient properties of steel roofing contribute to lower cooling demands and reduced energy costs. With the majority being recyclable, steel roofs offer an environmentally conscious choice.
However, fluctuations in raw material prices may hinder market growth. Contrarily, an increase in the construction of green buildings across various regions offers lucrative growth opportunities for the market player during the forecast period.
The steel roofing market is segmented on the basis of fastening type, distribution channel, end user, and region. By fastening type, the market is divided into exposed fastened, and concealed fastened. By distribution channel, it is categorized into online and offline. By end user, it is categorized into residential and non-residential. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the steel roofing market report include Cornerstone Building Brands Inc. (MBCI), Ideal Roofing, Lifetite Metal Product LLC, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co., Ltd, Central States Mfg, ATAS International, Inc., Tata BlueScope Steel, Bansal Roofing Products, ProVia, and Stellar Buildtech.
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