PUBLISHER: 360iResearch | PRODUCT CODE: 1471233
PUBLISHER: 360iResearch | PRODUCT CODE: 1471233
[189 Pages Report] The Roofing Materials Market size was estimated at USD 136.78 billion in 2023 and expected to reach USD 144.09 billion in 2024, at a CAGR 5.42% to reach USD 197.96 billion by 2030.
Roofing materials refer to the surface layer substances used for constructing the roof of a building. Roofing materials are essential in ensuring the structural integrity and safety of a building while also offering aesthetic appeal. Growing urbanization, rising awareness about green construction, and significant investments in building and construction activities are accelerating the use of roofing materials in construction projects globally. However, the volatility of raw materials cost used for manufacturing roofing materials may adversely influence the cost of roofing materials. Moreover, the introduction of novel materials with enhanced properties is expected to encourage the use of roofing materials across end-use applications globally.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 136.78 billion |
Estimated Year [2024] | USD 144.09 billion |
Forecast Year [2030] | USD 197.96 billion |
CAGR (%) | 5.42% |
Material Type: Significant penetration of metal roofing solutions
Asphalt Shingles offer durability and versatility at an affordable cost. Manufacturers provide many options in color, design, and texture, making asphalt shingles a preferred choice for homeowners desiring aesthetically tailored roofs. Bitumen or modified bitumen is a reliable low-slope roofing solution known for its enhanced tensile strength and waterproofing characteristics. Manufacturers offer polymer-modified bitumen roofing systems that extend the life expectancy of roofs. Metal Roofing is widely used due to its robustness, durability, and heat dispersion properties in residential and commercial sectors. Companies offer a range of styles, colors, and finishes in metal roofing. Plastic Roofing is low-cost, lightweight residential roofing and is preferred due to its easy installation, low maintenance, and variety of finishes. Tile Roofing has enhanced longevity and classic aesthetics and offers improved fire resistance. Manufacturers provide various materials, styles, and colors and highly durable, slate-like tile roofing.
Installation: Substantial use of roofing materials in new installations
New installation of roofing materials is common in new home constructions or when replacing deteriorating roofs. This process's main consideration involves choosing materials that provide longevity, weather resistance, and aesthetic appeal. Materials range from asphalt shingles to metal roofs, each having a specific need-based advantage. Retrofitting refers to the process of updating a roof structure with new technologies or materials to improve its existing performance. It focuses on improving energy efficiency, mitigating leaks, and enhancing aesthetics. New installations are ideal for new constructions and cases of significantly worn-out roofs. In contrast, retrofitting is meant for situations where a roof is renovated with materials or technology and aesthetic upgrades.
Application: Rapidly expanding commercial infrastructure projects propelling use of roofing materials
In the commercial sector, with considerations for longevity, durability, and design, Built-Up Roofing (BUR) made from several layers of asphalt and ply sheets is utilized. Residential roofing primarily focuses on aesthetics and cost-effectiveness. Asphalt shingles, one of the most common materials, offer a balance of durability, design variety, and affordability. In the industrial sector, roofing materials are selected for their durability, resistance, and practicality. Metal roofing systems are commonly used in the industrial sector owing to their high resistance to fire, wind, and other harsh environmental situations. Roofing materials offering superior energy efficiency and weather resistance are also preferred in the industrial sector.
Regional Insights
The roofing materials market is evolving in the Americas owing to the rising building and construction activities and demand for construction materials that are durable and resistant to weather conditions. The Asia-Pacific region is experiencing a significant surge in the demand for roofing materials due to rapid urbanization and a surge in construction activities in countries including India, China, and the Philippines. In the EMEA region, the demand for roofing materials is more diversified, with the use of traditional materials such as clay and slate along with innovative, energy-efficient materials such as green roofs. The Middle East and Africa are witnessing a rise in demand due to massive infrastructure and construction projects, predominantly using metal roofing materials due to their heat-reflecting properties. Besides, ongoing R&D for the development of sustainable roofing materials is anticipated to propel their use across the end-use sectors worldwide.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Roofing Materials Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Roofing Materials Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Roofing Materials Market, highlighting leading vendors and their innovative profiles. These include American Building Components, ArcelorMittal S.A., ATAS International, Inc., Atlas Roofing Corporation, BEMO Systems GmbH, Berridge Manufacturing Company, BMI Group, Building Products of Canada Corp., Carlisle Companies Incorporated, Fletcher Building Group, GAF Materials LLC, Herbert Malarkey Roofing Company, Holcim Ltd., IKO Industries Ltd., Isaiah Industries, Inc., Johns Manville by Berkshire Hathaway Company, Kingspan Group, Onduline Group SAS, Owens Corning, Saint-Gobain S.A., Sika AG, Stay Dry Roofing, TAMKO Building Products LLC, Tata BlueScope Steel Limited, and Wienerberger AG.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Roofing Materials Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Roofing Materials Market?
3. What are the technology trends and regulatory frameworks in the Roofing Materials Market?
4. What is the market share of the leading vendors in the Roofing Materials Market?
5. Which modes and strategic moves are suitable for entering the Roofing Materials Market?