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Roofing made of steel is highly durable. Prepainted steel roofs will comfortably last as many as 30 years. Steel won't break, shrink or otherwise succumb to the impact of moisture and heat, expanding the life of the roofing structure beyond most materials. Steel is non-combustable, increases protection in the event of lightning strikes or other sources of fire, and is not an attractive environment for termites or others insects. Light weight steel roofing decreases internal structural reinforcement needs in new building projects, reducing material and labor costs.
Steel Roofs play an significant part in achieving sustainable roofing, as they are constructed from a high proportion of recycled materials. Steel Roofs is a durable and long-lasting construction material which can save the roof sheathing substantially in energy. They have a singnificant application in construction industry. Therefore, significant development of the construction sector and growing usage of environmentally friendly roofing materials in end-use industries propel the demand.
Key Market Driver -
Significant growth of the construction industry and increase in usage of eco-friendly roofing materials in end-use industries are driving the market
Key Market Restraint -
- High installation cost and the requirement of the timely maintenance, due to its corrosive properties are likely to restrain the market.
However, the high installation cost involved in the fitting of steel roofing is expected to restrain the market. Also, steel roofing led to corrosion of the metal and thus the coating is also need to be done which results in the high cost of steel roofing.
Based on type, the market for steel roofs is further segmented into color coated roofing sheets, profile sheets, galvanized sheets, curving sheets, tile roof sheets, louvers, roof ventilators, C & Z purlins and others.Based on application, the market for steel roofs is further segmented into residential,commercial and industrial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global steel roofing market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the steel roofing market includes The OmniMax International, Inc., Jinhu Color Aluminum Group, Metal Sales Manufacturing Corporation Ideal Roofing Co. Ltd, Inc., ATAS International, Inc., Reed’s Metals, Inc., Firestone Building Products Company, Inc., BlueScope Steel Limited, DECRA Roofing Systems, Inc., Carlisle SynTec Systems., and others.
In terms of Geography, the Steel Roofing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of both consumption and output Europe dominates the Steel Roofing market. Asia Pacific is expected to see strong growth in the steel roofing market, pertaining to the growing development of infrastructure in the commercial and industrial sectors, particularly in developing nations like India and China. In turn, the movement of the community from rural to urban areas in these regions is projected to raise demand for steel roofs, contributing to increased demand for steel roofs thus expected to propel the demand for steel roofs, thereby leading to the growth of the steel roofing market during the forecast period. The steel roofing industry is expected to see substantial growth for North America. It can be attributed to the high living standards in these regions which add to the regeneration of construction projects. Europe holds a prominent share across Germany, the U.K., Italy, France, and Russia due to increased investments in construction sector. Owing to the growth of the construction industry and increased government spending on commercial and manufacturing sectors in the region, Middle East & Africa is projected to become a prominent area of the global steel roofing market during the forecast period.
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