The metal roofing market was valued at $23.8 billion in 2020, and is projected to reach $33.5 billion by 2030, growing at a CAGR of 3.5% from 2020 to 2030.
Metal roofing system is made up of metal or tile components, which are designed to last longer than other roofing materials. Many people choose metal roofing as it is long-lasting and resilient in buildings and homes. Metal roofing is made up of several different types of metals and the durability of metal roofing is determined by the type of metal utilized. Other materials, such as wood, plastic, or glass have their own set of advantages, but metal outperforms them all. Metal is the most durable of all materials, and it is capable of dealing with any challenge. Metal roofing is made to withstand severe winds, snow, rain, and other elements. If metal roofing is properly installed in a home or building, it requires very little maintenance.
Factors that contribute toward the metal roofing market include increase in demand for metal roofing owing to its beneficial properties. Metal roofs offer numerous advantages such as solid performance for around of 40 years, interlocking panels for maximum wind resistance, excellent fire resistance, and others. For instance, an aluminum-based roof offers easy maintenance, long life, and comes in a wide range of colors.
In addition, aluminum does not corrode, it’s a perfect choice for climates with heavy rainfall. However, availability of the alternatives is some of the factors expected to hinder the metal roofing market growth. In addition, volatility in raw material prices is also one of the factors expected to hinder the metal roofing market. On the contrary, rise in consumer base in developing regions such as Asia-Pacific and LAMEA is expected to offer lucrative opportunities for the industry participants during the forecast period. Residential and industrial sector are some of the fastest growing end users for metal roofing in the developing regions.
The metal roofing market is segmented on the basis of metal type, product type, end-user, and region. By metal type, the market is classified into copper, aluminum, zinc, steel, and others. By product type, it is segmented into panel, corrugated, tile, shingle, and others. By end-user, it is divided into residential, commercial, agricultural, and industrial. On the basis of region, the metal roofing market is studied across North America, Europe, Asia-Pacific, and LAMEA. The metal roofing market analysis covers in-depth information of the major industry participants.
Metal Roofing Market, by Metal type
By metal type, the steel segment garnered 44.2% share in terms of revenue in 2020 and expected to grow at CAGR of 3.0% during the forecast period. This is attributed to its dominant application in end users such as industrial, commercials, and others. In addition, development of infrastructure in emerging economies with supportive government policies boosts the demand for steel roofing.
By Metal Type
Steel holds a dominant position in 2020 and Zinc is projected as the most lucrative segment.
Metal Roofing Market, by Product type
By product type, the panel segment garnered 38.2% share in terms of revenue in 2020 and expected to grow at CAGR of 3.0% during the forecast period. Contractor demand for insulated roofing panels for ceilings and walls has surged in recent years because sandwich panels improve thermal insulation, weather protection, and reduce interstitial condensation and cold bridging.
By Product Type
Shingle is projected as the most lucrative segment.
Metal Roofing Market, by End user
By end user, the commercial segment garnered 38.0% share in 2020, in terms of revenue. In addition, residential segment garnered 36.0% share in 2020 this is attributed to the development of infrastructure in the developed and emerging countries, the residential sector, have witnessed significant investments especially in India. Some of the projects were halted in early 2020 owing to outbreak of COVID-19. Moreover, participation of developing countries in the commercial and industrial sector is expected to boost the growth of the metal roofing market during the forecast period.
By End User
Residential is projected as the most lucrative segment.
Metal Roofing Market, by Region
Region-wise, Asia-Pacific is expected to grow at a CAGR of 3.9% during the forecast period. This is attributed to presence of emerging economies such as India, China, South Korea, and Thailand. These emerging economies has rapidly growing consumer base such as agricultural, residential, industrial, commercial, and others. China is one of the major contributors to the market owing to huge consumer base and presence of key players in the metal roofing market.
Asia-Pacific holds a dominant position in 2020 and expected to register the highest CAGR during the forecast period.
Key benefits for stakeholders
- The report outlines the current metal roofing market trends and future scenario of the metal roofing market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The metal roofing market size is provided in terms of revenue.
- The report provides in-depth analysis of the market along with the current and future metal roofing market trends.
- This report highlights the key drivers, opportunities, and restraints of market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The study provides a comprehensive analysis of the factors that drive and restrain the market growth.
Impact of COVID-19 on the metal roofing market
- The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, inventory, sales,
- business and manufacturing operations, and others.
- As per the companies operating in the market there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause.
- Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.
Metal Roofing Market Report Highlights
By Metal type
By Product Type
By End user
Key Market Players
ATAS INTERNATIONAL, INC., ADITYA PROFILES, IDEAL ROOFING, MBCI, LIFETITE METAL PRODUCT LLC, LINYI JINHU COLOR COATING ALUMINUM INDUSTRY CO., LTD, CENTRAL STATES MFG, MCELROY METAL, METAL SALES MANUFACTURING CORPORATION, BORAL ROOFING
According to insights of CXOs of leading companies, adoption of metal roofing is highest in Asia-Pacific, owing to rise in urban population and industrialization. However, there is availability of alternatives for metal roofs such as bitumen roofing, tile roofing, reinforced cement concrete, and plastics. One of the most popular alternatives are polycarbonate sheets. Polycarbonate sheets are being widely used in many end-use industries. This is attributed to its exceptional physical and chemical properties such as high toughness, high impact strength, chemical & heat resistant, transmittance, and UV resistant. On the contrary, in the coming years, it is expected that the progress of COVID-19 vaccination activities may boost construction activities and boost the construction industry. This might increase demand for metal roofs.