"Innovative Market Solutions to Help Businesses Make Informed Decisions"

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

Region : Global | Format: PDF | Report ID: FBI102859

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global roofing materials market size was valued at USD 138.43 billion in 2022 and 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.


Roofing materials are the outermost layers of a building’s roof used to construct or repair a roof. The roof is a vital part of a house that offers protection against climatic conditions and natural elements. The exterior layer of a roof varies according to the available material and the complexity of the supporting structure. Roofing materials vary from natural products, such as slates and thatches, to commercially available products, such as bituminous tiles and plastic roofs. Rising investments in the development and renovation of commercial and residential buildings are anticipated to drive the roofing materials market growth.


COVID-19 IMPACT


Supply Chain Disruptions Impeded Market Progression Amid Pandemic


The global pandemic and lockdown restrictions imposed by various governments caused major disruption in the entire construction materials supply chain. Additionally, companies suffered from labor scarcity, both skilled and unskilled, resulting in massive losses.


Furthermore, the movement limitations enforced during the lockdown created logistical issues, making it difficult to obtain raw materials for manufacturing. Since roofing is a hands-on job that requires close contact between workers, social distancing norms imposed by various governments created additional challenges. Contractors working in the roofing sector had to adopt additional safety measures and follow COVID-19 protocols to safeguard their employees.


Construction material shortages also resulted in severe price fluctuation. According to the National Roofing Contractors Association, building material prices increased dramatically during the epidemic. This factor has been accompanied by construction contractors' inability to complete construction projects on time due to various factors, such as a shortage of skilled workers, supply route shutdowns and other supply chain disruptions, and increased demand for construction materials in the residential and commercial sectors.


LATEST TRENDS


Increasing Demand for Bituminous Roofing to Augment Market Growth  


Bituminous is affordable compared to other common roofing materials. In bituminous, shingles & plates are commonly used. Bituminous shingles are a cost-effective roofing alternative and provide excellent protection. Available in a vast array of colors and designs, it is easy to find a choice to complement the design of the building and improve its appeal. The bituminous shingles are coated with asphalt and covered with colored mineral granules that help protect the shingles from the elements. Bituminous shingles are available in different thicknesses or grades; roofing lasts 25 to 30 years, depending on the local climate and how well it is maintained. Bituminous is a durable building material adapting to most environmental conditions and can withstand harsh weather conditions, including strong winds, without wear and tear.


However, wind resistance scores are measured from the lowest (Class D) to the highest (Class H). Bituminous shingles can meet the Class H grade, which stands against winds up to 150 mph, with proper installation and support from fasteners and bonds. Instead of absorbing solar heat, it reflects bituminous shingles. As a result, buildings can stay cool without relying on a heating and cooling system. Shingles made from bituminous have an effective resistance level of 1-4, making them suitable for inclement weather conditions, such as hail storms. Bituminous shingles retain a fire classification of class A, thereby reducing accidents in case of a disaster.


Request a Free sample to learn more about this report.


DRIVING FACTORS


Excellent Fire Resistant Property of Metal Roofing to Drive Industry Growth


Metal roofing is expected to expand rapidly due to increasing cases of wildfires. Metal roofing is an excellent fire-resistant roofing choice, which many have used to adapt to modern fire codes and fireproof their buildings. It can be produced using copper, aluminum, stainless steel, and zinc and is available in two forms, panels & shingles. The most common cost-effective metals among them are galvanized steel and aluminum.


Metal roofing is a durable material that lasts longer than other materials. It captures the sun's UV rays and keeps the building cooler during summer. The metal roofing adds extra insulation to the building, maintaining steady temperatures during the winter and summer. Metal roofing sales are on the rise in commercial construction and residential remodeling. Experienced building architects and property owners have embraced metal roofing as one of the roofing industry's most durable solutions. Metal roofing weighs less compared to bituminous shingles roofing or tiles. Similar to other roofing materials, it does not stress the building’s structure due to its strength, durability, flame resistance, and low maintenance.


Growing Construction Industry to Drive Roofing Materials Market Share


The global construction industry is the largest consumer of raw materials. The industry is projected to expand due to growth in residential, non-residential, and infrastructure projects. Europe’s construction market is increasing due to residential, non-residential, and civil engineering sectors.


Roof is an important building structure, providing protection and enhancing appeal. A roof structure consists of different materials interconnected to weatherproof and waterproof buildings from rain, heat, snow, and other elements. Roofing materials differ depending on roof form, position, environment, and commercial or residential use. Bituminous shingles are common as they are relatively inexpensive and have a good lifespan for residential use. Metal, EPDM, and built-up roofs are widely used in commercial construction, where flat roofs are more common. Thus, the growing construction industry is driving the demand of the market. However, the widespread pandemic affected construction and detained market growth.


RESTRAINING FACTORS


Higher Price of Roofing Materials to Hinder Market Growth


A massive investment of time, electricity, and money is involved in resurfacing worn-out roofs. Climatic conditions may affect product quality. For example, certain materials lack properties to withstand extreme heat and ultraviolet radiation from sunlight, though they easily succumb to prolonged freeze-thaw cycles. Shingles made from bituminous can be weakened if built during freezing temperatures. Since they are not as high quality as other materials, they are vulnerable to wind lifting and can quickly break at varying temperatures. The initial cost of metal roofing is typically higher than that of other materials.


Durable, slate, concrete, and clay tiles can be broken if they have a strong effect, such as falling tree branches or even walking pressure. Repairs can be costly when needed. Roofing materials' durability comes with a higher repair cost and maintenance, as shakes and shingles of untreated wood require high maintenance. The amount of natural resources and electricity used, and toxicity caused by emissions should be considered while manufacturing roofing materials. These materials are made from scarce or ecologically-sensitive materials.


SEGMENTATION


By Material Analysis


Bituminous Material to be Leading Segment Due to Wide Usage in Residential Construction


In terms of material, the market is segmented into bituminous, tile, metal, elastomeric, and others.  


The bituminous segment accounted for a major share of the market and is likely to maintain its dominance during the forecast period. Shingles made from bituminous are preferred for residential roofing due to their cost-effectiveness and easy installation. These shingles may be reinforced with fiberglass or synthetic materials without altering the shingle’s appearance.


Tiles made of clay and concrete display texture that enhances the visual aesthetics of a building. Tiles of flat, ribbed clay are extremely durable and heavy and, thus, are advised to be mounted. Concrete tiles are heavy and flexible compared to real clay.


The metal segment is expected to expand rapidly during the forecast period. Metal roofs are immune to severe weather. Metal roofs in aluminum, copper, stainless steel, and zinc are available in two forms, panels and shingles. Properly mounted metal roofing can last as long as the building, seal off the water, withstand high winds, and shed snow easily.


By End-use Industry Analysis


Residential Segment to Account for the Major Market Share Due to Rise in Infrastructure Projects


In terms of end-use industry, the market is segmented into residential, non-residential, and industrial.


The residential segment held the key market share in 2022 and is estimated to register a significant growth rate during the forecast period. The segment’s growth is attributed to a rise in policy and institutional support for building housing infrastructure in emerging economies. Residential roofing demand is growing due to the rising population and preference for single-family housing structures. In addition, ease of credit access and low-interest rates play an important role in the overall demand for residential structures.


The investment to construct and renovate social infrastructures, such as hospitals, educational buildings, government offices, and correction facilities, is anticipated to fuel the non-residential construction sector.


To know how our report can help streamline your business, Speak to Analyst


REGIONAL INSIGHTS


Asia Pacific Roofing Materials Market Size, 2022 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The Asia Pacific roofing materials market size was valued at USD 54.87 billion in 2022. In Asia Pacific, the high product demand is due to the rise in the construction sector, including new construction and renovation activities. The increase in industrial operations, especially in China and India, coupled with a growing population and rising disposable incomes, has increased demand for construction and building activities, thus boosting the industry growth in the region. Residential construction is India's leading segment of the construction industry. The Indian government has set a target of 29.5 million houses by March 2024, which is expected to significantly impact the regional market.  


To know how our report can help streamline your business, Speak to Analyst


The North America market growth is owed to its increasing re-roofing project activities for commercial, industrial, and residential projects in the U.S. The rise in construction activities of residential and commercial projects in the U.S. and Canada, along with infrastructure spending by the government for construction projects, is anticipated to drive market growth. The U.S. construction industry declined during the COVID-19 pandemic due to labor shortages and the government’s shutdown of various manufacturing plants, thus hampering the construction supply chain.


In the Middle East & Africa, roofing materials demand is majorly driven by the rapid growth of the residential building sector in Kenya, Nigeria, Egypt, and Ethiopia. In addition, the ongoing construction boom in Qatar, Saudi Arabia, and UAE creates considerable demand for the market.


In the U.K., the government has set a goal to provide annual residential homes to address the acute housing shortage. Thus, the increasing emphasis on housing construction activities is projected to surge the demand in Europe.


KEY INDUSTRY PLAYERS


Key Players Blend Effective Strategies, Acquisition, and New Product Launch to Boost Market Stance


The market is substantially fragmented. Key players include Owens Corning, GAF, and Carlisle Companies Inc., among others. Industry players compete primarily based on the price and application characteristics of the product. Most global companies have integrated raw material production and sales activities to maintain product quality and expand regional influence.


In addition, these firms have built a robust network of certified roofing contractors to ensure the quality of the roof installation to expand their client base. Major market players depend on backward integration to preserve quality and control production costs.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • January 2022 - Owens Corning acquired Natural Polymers LLC, a company that specializes in the manufacturing of spray polyurethane foam insulation for building and construction applications.

  • February 2022 - Johns Manville, a Berkshire Hathaway company, announced two new products for bituminous roofing systems to help improve productivity on the roof.

  • February 2022 - Carlisle Companies Incorporated acquired MBTechnology, Inc. (MBT). This acquisition will expand CWT’s modified bitumen roofing offerings and provide additional capacity for roofing underlayment.

  • December 2021 - Cornerstone Building Brands, Inc. completed the acquisition of Union Corrugating Company Holdings, Inc., a provider of metal roofing, roofing components, and accessories. This acquisition will expand Cornerstone Building Brands’ solutions offerings to customers in the growing residential metal roofing market.

  • January 2021 - ProVia launched a metal roofing product line that combines the luxury and beauty of slate or cedar shakes with the durability and longevity of a galvanized, highly-engineered steel roof system.


REPORT COVERAGE


An Infographic Representation of Roofing Materials Market

To get information on various segments, share your queries with us



The research report thoroughly examines key factors such as major firms, goods, and services. It also provides market trends, competitive landscape, and highlights important industry advancements. The study includes different variables that have contributed to the market's growth in recent years and the factors listed above. It examines the industry's newest market dynamics and opportunities and historical data and revenue growth estimates at the global, regional, and country levels.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation






















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 3.6% from 2023 to 2030



Unit



Value (USD Billion), Volume (Million Square Meters)



Segmentation



By Material, End-use Industry, and Region



By Material




  • Bituminous

  • Tile

  • Metal

  • Elastomeric

  • Others



By End-use Industry




  • Residential

  • Non-residential

  • Industrial



By Region




  • North America (By Material, By End-use Industry, By Country)





    • U.S. (By End-use Industry)

    • Canada (By End-use Industry)





  • Europe (By Material, By End-use Industry, By Country)





    • Germany (By End-use Industry)

    • U.K. (By End-use Industry)

    • France (By End-use Industry)

    • Italy (By End-use Industry)

    • Spain (By End-use Industry)

    • Russia & CIS (By End-use Industry)







    • Rest of Europe (By End-use Industry)





  • Asia Pacific (By Material, By End-use Industry, By Country)





    • China (By End-use Industry)

    • Japan (By End-use Industry)

    • India (By End-use Industry)

    • ASEAN (By End-use Industry)

    • Rest of Asia Pacific (By End-use Industry)





  • Latin America (By Material, By End-use Industry, By Country)





    • Brazil (By End-use Industry)

    • Mexico (By End-use Industry)

    • Rest of Latin America (By End-use Industry)





  • Middle East & Africa (By Material, By End-use Industry, By Country)





    • GCC (By End-use Industry)

    • South Africa (By End-use Industry)

    • Rest of Middle East & Africa (By End-use Industry)





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 138.43 billion in 2022 and is projected to reach USD 173.23 billion by 2030.

In 2022, the Asia Pacific market size stood at USD 54.87 billion.

The market will exhibit a CAGR of 3.6% during the forecast period (2023-2030).

The bituminous segment is expected to lead the market during the forecast period.

The growing construction industry and infrastructure spending are factors driving the market.

Owens Corning, GAF, and Carlisle Companies Inc. are major players in the global market.

Asia Pacific dominated the market in terms of share in 2022.

The increasing demand for bituminous roofing due to its wide application usage in residential and commercial construction projects aids the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Aug, 2023
  • 2022
  • 2019-2021
  • 300

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

Mckinsey
Citibank
Mobil
Petronas
GM

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X