Global Roofing Materials Market By Product , By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Roofing Materials Market Overview:

The Roofing Materials Market size is expected to be worth around USD 184.03 billion by 2032 from USD 122.1 billion in 2021, growing at a CAGR of 3.8% during the forecast period from 2022 to 2032.

Market growth will be driven by increasing spending on the renovation and redevelopment of residential and commercial buildings.

Global Roofing Materials Market Analysis

Product Analysis

The concrete and clay tiles market was the largest and contributed more than 33% to the total global market revenue in 2021. These tiles are highly sought after because of their aesthetic appeal, durability, and ease of recycling. But, the rising preference for stone-coated steel roofing will limit product demand.
Metal roofs held a significant revenue share in 2021.

Metal roofs can be modified into any type of shape, including shingles and slates, to suit different buildings’ surface structures. They are also expected to be in high demand due to their low lifecycle costs, lower weight, and fire resistance.

Due to its ease of use and low maintenance, the plastic roof segment will grow at a rate of 3% during the forecast period. Plastic roofs have a lower aesthetic appeal than traditional roofing materials. Plastic roofs are also more susceptible to UV radiation damage, which restricts their use. Waterproofing and temperature control are a wide range of advantages to the structure that offers the material.

Application Analysis

The residential application segment dominated the market, accounting for a high revenue share. Homeowners use asphalt shingles for residential purposes because it is easy to install and requires less maintenance than metal or concrete. You can choose from a variety of colors and textures, which can provide a wood-like appearance or even cedar or slate. They also improve the aesthetic value and aesthetic appeal of roofing structures.

The global demand for non-residential commercial buildings is expected to rise due to new business models and growing office space requirements. In addition, major players in technology companies like Amazon, Google, and Microsoft are expected to increase their expenditures on building data centers. This will likely boost the demand for roofing materials that can be used in nonresidential structures.

Rising investment in the renovation and replacement of commercial roofs, such as hospitals and educational institutions, government offices, sporting facilities, and recreational buildings, is expected to increase the penetration of roofing materials into various non-residential uses.

Key Market Segments

By Product

• Concrete & Clay Tile Roofs
• Asphalt Shingles
• Plastic Roofs
• Metal Roofs
• Other Products

By Application

• Residential
• Non-residential

Market Dynamics

The U.S. spread of COVID-19 had a negative impact on the growth of engineering, construction industry, and related industries. The major barriers to growth in this industry are the rising costs of construction materials, equipment, and disruptions in supply chains. The market growth was supported by the increased use of 3D modeling and aerial measurement technologies during the pandemic.

Many European and North American properties are over 25-30 years of age. These properties will need roof replacements over the next several years. Reflective coatings can be applied to dark-colored roofing industry materials and have excellent heat reflection properties. They also help to lower the overall energy consumption of the building structure.

Because there are many suppliers of raw materials on the market, the power of suppliers will be limited. This is due to the fact that there are many suppliers for various demands for roofing materials. For suppliers to have a competitive edge on the market, they will need a broad product line and top product quality services.

Regional Markets Analysis

The Asia Pacific led the market with 33.7% of global revenues in 2021. Construction activity is expected to increase due to the sustained economic growth of the countries in the region. This will drive the demand for roof materials.

The growth of markets in tourism, retail trade, and turnover in businesses across the EU member states is expected to drive the demand for common roofing materials.

The South American construction industry and commercial sectors were mostly resilient in the face of the economic slump that resulted from the pandemic. The region’s economy will be affected by key major factors such as uncertainty regarding Brazil’s reforms and economic policy, and recent unrest in Ecuador, Colombia, and Chile.

Flitch Rating, IMF, and IMF expect that robust government spending in GCC countries will boost construction expenditure on hospitals, leisure projects, and schools. This, in turn, should propel the growth and demand for construction products in the region.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Globally, there are many small- and large-scale vendors. This creates a relatively low concentration in the market. The market is growing because of the increasing demand for accurate and reliable roofing solutions. Market leaders in roofing materials focus on creating durable, rigid demand for roofing materials.

A large number of roofing product producers are focused on backward Integration to ensure product superior quality. To meet the growing consumer demand, industry participants focus on increasing their product line by offering innovative solutions and more affordable products.

Маrkеt Kеу Рlауеrѕ:

• GAF Materials Corp.
• Atlas Roofing Corporation
• Owens Corning
• TAMKO Building Products Inc.
• CSR Ltd.
• Carlisle Companies Inc.
• Crown Building Products LLC
• Metal Sales Manufacturing Corp.
• Other Key Players