Roofing Materials Market to Exhibit 3.6% CAGR from 2023-2030; Superior Safeguarding Properties of Roofing Materials to Augment Market Growth

The global roofing materials market size was valued at USD 138.43 billion in 2022. The market is projected to grow from USD 135.08 billion in 2023 to USD 173.23 billion by 2030, exhibiting a CAGR of 3.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Roofing Materials Market Size, Share & COVID-19 Impact Analysis, By Material (Bituminous, Tile, Metal, Elastomeric, and Others), By End-use Industry (Residential, Non-Residential, and Industrial), and Regional Forecast, 2023-2030”.

Roofing materials are essential components of a building's roof, providing protection against weather and environmental factors. The outer layer varies based on material availability and structural complexity, ranging from natural products such as slates to commercial options including bituminous tiles and plastic roofs. Increasing investments in commercial and residential construction and renovation projects are expected to fuel the growth of the market.

Stringent Transportation Regulations in the Wake of the Pandemic Constrained Growth

This market may be negatively affected during the COVID-19 pandemic due to the disruptions in the supply chain. Furthermore, the sudden inclination in COVID-19 infections may impede industry progress. Moreover, restrictions imposed on construction activities may decline demand. Also, transportation restrictions may lead to lack of raw materials. However, resumption of manufacturing activities, reduced capacities, automated production techniques, and part-time shifts may enhance industry growth.

Cornerstone Building Brands Expands Market Presence with Union Corrugating Acquisition

Cornerstone Building Brands, Inc. successfully finalized the purchase of Union Corrugating Company Holdings, Inc., in December 2021, a company known for its provision of metal roofing, roofing components, and accessories. Through this acquisition, Cornerstone Building Brands aims to broaden its range of solutions available to customers, particularly in the fast-growing residential metal roofing market.

Increased Demand in Commercial and Residential Sectors Drive Sales and Market Expansion

Roofing materials are the outermost layers of a building used to construct and repair roofs. The rapidly progressing construction industry may boost product demand. Furthermore, increasing demand for the product due to its ability to deflect UV rays and maintain a cool living environment may enhance the materials’ demand. Moreover, the rising adoption of roofing-material products for commercial and residential construction remodeling may bolster sales. Additionally, strong infrastructure development is expected to enhance sales. These factors may propel the roofing materials market growth.

Players in Fragmented Market Strategize Quality and Growth to Sustain Edge

Global players integrate raw material production and sales for quality control and regional expansion. The market is fragmented, with competition based on price and product application. They also collaborate with certified contractors for high-quality installations and employ backward integration to manage production costs.

Key Industry Development

• July 2021: Sika completed the acquisition of American Hydrotech Inc. and its Canadian affiliate, Hydrotech Membrane Corporation. This strategic move is aimed at bolstering Sika's roofing and waterproofing portfolio in the U.S. and Canada.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/roofing-materials-market-102859

List of Key Players Profiled in the Report:

• Owens Corning (U.S.)


• CertainTeed Corporation (U.S.)


• Atlas Roofing Corporation (U.S.)


• BMI Group (U.K.)


• Johns Manville (U.S.)


• IKO Industries Ltd. (U.S.)


• GAF (U.S.)


• TAMKO Building Products, Inc. (U.S.)


• Carlisle Companies Incorporated (U.S.)


• Firestone Building Products Company, LLC (U.S.)

Further Report Findings:

• Asia Pacific is expected to gain substantial roofing materials market share in the coming years. The region’s market was valued at 54.87 billion in 2022. Increasing disposable incomes, growing population, and rising industrial operations in India and China may enhance the demand for these materials.


• In North America, increasing residential, industrial, and commercial roofing projects may enhance sales.


• The residential segment dominates and is expected to lead the market during the projected period. Rising population and inclination toward purchasing single family house structures are the leading causes for the segment’s growth. 

Table of Segmentation