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2021
Roofing Market

Roofing Market

by Roofing Material (Bituminous Roofing, Metal Roofing, Tile Roofing, and Others), Roofing Type (Flat Roof, and Slope Roof), and Application (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A01551
Pages: 233
Oct 2021 | 41330 Views
Author(s) : Amar C , Onkar S
Tables: 114
Charts: 62
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COVID-19

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The global roofing market size was valued at $102.4 billion in 2020, and is projected to reach $156.0 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030. Roofing offers protection from heat, rain, and other atmospheric conditions. Bitumen, ceramic coated granules, clay, sand, fiberglass, concrete, and polycarbonate are used for the construction of roofs in residential and commercial buildings, such as offices, hotels, and educational institutes.

The COVID 19 outbreak has affected the growth of the roofing industry owing to the lockdown measure in the countries and delay in manufacturing and production of roofing products which are utilized in residential and commercial spaces, and others.

Advancement in construction industry, rapid urbanization, and innovations in technology are the key factors that drive the growth of the roofing market. In addition, technological innovations such as green roofing, eco-friendly roofing materials, and drones for roof inspections have increased the demand for roofing products. However, the high installation cost of roofing systems is expected to hamper the roofing market growth.

Roofing-market-2021-2030

Major players in this roofing market focus on designing efficient roofing systems to ensure long-term performance even in the harshest weather conditions. Such factor offers lucrative opportunities for the roofing market growth during the forecast period. For instance, in March 2020, Standard Industries has launched roof integrated solar product, Solaria panels, which are 16% more powerful than standard solar integrated roof and allow homeowners to fit more roof-integrated solar capacity in a similar amount of space. Similarly, Johns Manville has launched wide range of high-performance commercial roofing products, which have the lowest fastening rates in the market for a HD polyiso cover board for which up to 50% fewer fasteners are needed to achieve FM I-90.

The rise in the number of non-residential projects in the emerging economies, such as hotels, schools, hospitals, and industrial buildings, is expected to increase the demand for bituminous roofing in the coming years. Energy efficient roofing systems are available in the market owing to the introduction of new roofing technologies. New technologies, such as green roofing, increase in roof life & safety, improved air quality, and reduced noise & cost of air-conditioning help to aid the growth of the roofing market. Introduction of advanced technologies results in aesthetics improvement, which is expected to strengthen the roofing market in the future. The effect of new technologies is moderate; however, its impact is expected to increase in the future, owing to the rise in adoption of bituminous roofing in residential and commercial buildings.

In addition, governments of countries such as India and China have invested heavily in infrastructure development, which also fuels the demand for bituminous roofing in the global roofing market. By application, residential segment is expected to witness the highest growth due to popularity of eco-friendly roofing technologies and increased investments in the real-estate sector.

Roofing Market
By Material Type

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Bitunumous segment is projected to grow at a highest CAGR

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Furthermore, the roofing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the roofing market during the analysis period due to growth in urbanization and increase in infrastructure investments. China leads the Asia-Pacific roofing market in 2020. This growth is attributed to rise in income levels, rapid urbanization & industrialization, and increase in government initiative to invest in infrastructural development.

The roofing market is classified on the basis of roofing material, roofing type, application, and region. By roofing material, the market is divided into bituminous roofing, metal roofing, tile roofing, and others. By application, the market is classified into residential, commercial, and industrial. By roofing type, the roofing market is bifurcated into flat roof, and slope roof. Region wise, the roofing market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Roofing Market
By Application

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Commercial segment holds dominant position in 2020

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Competition Analysis

The key players profiled in the roofing market report include3M Company, Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company.

The major players operating in the global roofing market have adopted key strategies such as product launch and business expansion to strengthen their market outreach and sustain the stiff competition in the market.

Roofing Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020 and is expected to grow at a significant rate during the forecast period.

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Key Benefits for Stakeholders

  • The report provides an extensive analysis of the current and emerging roofing market trends and dynamics. 
  • In-depth market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.
  • Extensive analysis of the roofing market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global roofing market forecast analysis from 2021 to 2030 is included in the report.
  • The key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the roofing industry.

Global Roofing Market Segments

By Roofing Material

  • Bituminous Roofing
  • Metal Roofing
  • Tile Roofing
  • Others (RCC & Plastics)

By Roofing Type

  • Flat Roof
  • Slope Roof

By Application

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • 3M Company
  • Atlas Roofing Corporation
  • BASF SE
  • Johns Manville
  • Duro-Last Inc.
  • E. I. Du Pont De Nemours, Inc.
  • Owens Corning
  • Sika AG
  • Standard Industries Inc.
  • The Dow Chemical Company
 

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The utilization of roofing systems is on a rise owing to increase in focus on energy efficient construction and the ever-increasing demographic shift toward urbanization. The consumption of roofing market is highest in Asia-Pacific due to rise in urban population and industrialization. Market players have focused on designing advanced roofing system, which ensures high durability and long-term performance. For instance, in March 2021, Atlas Roofing launched StormMaster Hip and Ridge roofing with core4, which allows the roof to provide extra strength, flexibility, durability, and extreme weather resistance. They have focused on delivering reliable and customer-driven solutions for a wide range of applications such as residential, commercial, and other constructions.

Furthermore, key players have implemented various strategies such as business expansion, acquisition, collaboration, and partnerships to strengthen its market position and to improve its product portfolio. For instance, in August 2020, Sika AG has acquired Modern Waterproofing Group, which is the leading manufacturer of roofing and waterproofing system in Egypt. The acquisition supplements & rounds off the product portfolio of Sika Egypt and offers new opportunities for growth in the Egyptian construction market.

Countries such as China and India have become a favorable destination for exporting construction materials such as roofing tiles mainly due to the ongoing demand from the residential and commercial construction sectors. In addition, residential and infrastructure segments are dominant in Asia-Pacific, owing to the continuous growth of urban demographics and better infrastructure. Asia-Pacific is expected to grow at a high CAGR during the forecast period, with notable growth in the developing nations. Key players operating in the market are Owens Corning, Brass Monier Building Group, Etex, Saint-Globain, Wienerberger AG, Beacon Roofing Supply, Inc., Atlas Roofing Corporation, Duro-Last, Inc., and Carlisle.

 

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FREQUENTLY ASKED QUESTIONS?

A. The Roofing market size was valued at $1,02,400.0 million in 2020.

A. Based on roofing material, the bituminous hold the maximum market share of the Roofing market in 2020.

A. The Roofing market is projected to reach $ 1,56,005.5 million by 2030.

A. Rapid rise in construction sector and renovation and replacement of buildings are the key trends in the Roofing market.

A. The product launch is key growth strategy of Roofing industry players.

A. The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.

A. High cost of renovation and replacement are the effecting factor for Roofing market.

A. The end users of Roofing include in residential, commercial and industrial.

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