Roofing Market

Market Definition:

The Roofing Market size was valued at USD 101.5 billion in 2020 and is predicted to reach USD 151.7 billion by 2030 with a CAGR of 4.1% from 2021-2030. 

Roof is the top most layer of the building which provide protection against wind, sunlight, rain, snow, and extremes temperature. Materials used for the construction of roofs in residential and commercial buildings include polycarbonate, bitumen, clay, ceramic coated granules, sand, concrete, and fiberglass. Roofing adds significant value to buildings, improves durability, and offers protection against harsh environmental conditions. Also, there are many benefits of modern roofs such as air cooling, ventilation, and aesthetic improvements of the infrastructure, among others.

Market Dynamics and Trends:

The demand for roofing is rising due to availability of diversified products such as eco-friendly roofs, solar friendly roofs, flat roofs, and metal roofs among others. Also, factors such as advancements in construction industry, and rapid urbanization are expected to propel the growth of the market during the forecast period.

Moreover, increasing preference towards clear roofing panels in patios, sunrooms, and places that need natural light through the roof is contributing towards the growth of the market. Furthermore, corrugated roofing sheets are strong, durable, eco-friendly, offer reliable utility and enhanced strength. Therefore, these roofs are finding extensive applications in the agricultural sector for protecting garages, porches, and sheds.

However, lack of skilled manpower for installation, and high installation cost are factors expected to restrain the market growth to some extent. On the other hand, increased use of advanced materials and emerging green building concept is increasing public awareness about climate change, which is expected to create ample opportunities for the key players of the roofing market.

Market Segmentations and Scope of the Study:

The roofing market share has been segmented based on material, type, application, and geography. Based on material, the market is bifurcated into bituminous roofing, metal roofing, tile roofing, and others. Based on type, the market is classified into flat roof, and slope roof. Based on application, the market is bifurcated into residential, commercial, and industrial. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

Asia-Pacific region holds the lion share of roofing market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as growing construction activities in both the residential and commercial sectors, especially in countries like India, China, Indonesia, and Vietnam. Also, China is the biggest leader of roofing market due to rise in income levels, rapid urbanization & industrialization, and increase in government initiative to invest in infrastructural development.

However, North America is expected to show a steady rise in this market due to rapid urbanization and technological innovations. Moreover, rise in standard of living, new construction, and retrofitting activities in buildings are factors expected to drive the roofing market in this region. On the other hand, Middle East is also showcasing promising growth in the roofing market as governments in the UAE and Qatar have increased their expenditure in commercial and industrial construction projects.

Competitive Landscape:

The market comprises of various players such as are Atlas Roofing Corporation, CertainTeed Corporation, BMI Group Services GmbH, Carlisle Companies Inc., Duro-Last Inc., Etex SA, GAF Materials Corporation, North American Roofing Services Inc., Standard Industries and BASF SE. These manufacturers are actively indulging in R&D initiatives, product & technology innovations, and industrial collaborations to enhance their product as well as increase their growth and geographical reach. 

For instance, in March 2020, GAF energy had launched brand new super high-efficiency roof integrated solar product and Solaria panels. These roofs are 16% more powerful than standard solar integrated roof and allows homeowners to fit more roof-integrated solar capacity in a similar amount of space. Also, in March 2021, Atlas Roofing Corporation announced the release of their Storm Master Hip & Ridge shingle that incorporates the company's unique Core4 Enhanced Polymer Technology that provides strength, flexibility, durability, and extreme weather protection.

KEY BENEFITS:

• The roofing market report provides the quantitative analysis of the current market and estimations through 2021-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the roofing market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the roofing market is provided in the report.

• The competitive analysis of the market players along with their market share in the roofing market

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Material

• Bituminous Roofing

• Metal Roofing

• Tile Roofing

• Others

By Type

• Flat Roof

• Slope Roof

By Application

• Residential

• Commercial

• Industrial

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Australia

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle east

  • Africa

KEY PLAYERS:

• Atlas Roofing Corporation

• CertainTeed Corporation

• BMI Group Services GmbH

• Carlisle Companies Inc.

• Duro-Last Inc.

• Etex SA

• GAF Materials Corporation

• North American Roofing Services Inc.

• Standard Industries

• BASF SE

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2020–2030
Base Year Considered	2020
Forecast Period	2021–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Material (Bituminous Roofing, Metal Roofing, Tile Roofing, and Others), by Type (Flat Roof, and Slope Roof), by Application (Residential, Commercial, and Industrial)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), Rest of the World (Latin America, Middle east, Africa)
Companies Profiled	Atlas Roofing Corporation, CertainTeed Corporation, BMI Group Services GmbH, Carlisle Companies Inc., Duro-Last Inc., Etex SA, GAF Materials Corporation, North American Roofing Services Inc., Standard Industries, BASF SE, The Dow Chemical Company, and Sika AG.