Roofing Materials Market Size By Material (Bituminous, Concrete & Clay Tiles, Metal, Elastomer, Plastics), By Type Of Construction (New Construction, Reroofing), By Application (Residential, Non-Residential) & Forecast, 2023 – 2032

Roofing Materials Market Size

Roofing Materials Market size surpassed USD 125 billion in 2022 and is slated to witness 4% CAGR from 2023 to 2032, backed by the surging infrastructure investments and the flourishing construction sector globally.
 

The constant growth in world population and the accelerating pace of urbanization have pushed the demand for adequate housing and commercial spaces across developed as well as developing economies. As a result, governments and regulatory bodies have been investing heavily on developing infrastructure to suffice the growing demand. The roofing materials market players are actively exploring opportunities to accelerate industry presence and profitability in this growing sector through strategic partnerships and acquisitions.
 

For instance, according to IBEF, the Government of India, through the National Infrastructure Pipeline (NIP), intends to expend a sum of US$ 1.4 trillion on infrastructure projects from 2019 to 2023 and announced US$ 9.85 billion to the Ministry of Housing and Urban Affairs in the budget 2022-23. Although fluctuating prices of raw materials and stringent building safety norms may hamper the industry revenue streams, the ongoing expansion of the real estate sector is poised to create a favorable growth in the industry outlook by 2032.

Roofing Materials Market Analysis

The metal roofing materials market is projected to cross a valuation of USD 20 billion by 2032. These materials comprise all sorts of metals, including tin, copper, steel, zinc, and aluminum, used in shingles, roofing tiles and shakes. Metal roofing materials have superior fire resistance, are lightweight, and require relatively lesser installation time than their counterparts. Besides, their longevity and the ability to reflect heat from the sun help homeowners save significantly on energy bills and tax credits, bolstering their demand during 2023-2032.
 

The reroofing segment is expected to be worth more than USD 90 billion by 2032. The increasing focus on enhancing aesthetics and ambiance through modern designs and textures has resulted in a surge in restoration and renovation projects. This can be credited to the consistent rise in disposable incomes and positive economic outlook across several economies. Nevertheless, the rapid integration of advanced renovation techniques will further facilitate market expansion by 2032.
 

The residential sector is expected to expand at 4% growth rate through 2032. The rapid growth in the construction of residential establishments, such as private dwellings or individual houses, due to continued demand for housing may drive the roofing materials market revenues. Governments in the numerous economies have introduced several flagship initiatives to boost residential construction.
 

Asia Pacific roofing materials market is slated to attain 4.5% gains between 2023 and 2032. The increasing infrastructure investments in countries such as Japan, India, and China and the subsequent rise in the construction of residential and non-residential buildings will fuel the regional industry. Besides, the growing collaborations and strategic interactions related to infrastructure development among several regional and global economies will augment the regional demand for roofing materials.
 

Roofing Materials Market Share

Leading companies participating in the roofing materials industry include :

• Carlisle Companies
• Johns Manville
• Bansal Roofing Products Limited
• CertainTeed
• IKO Industries, Ltd
• Owens Corning
• Atlas Roofing Corporation
• Etex Group
• Braas Monier Building Group
• TAMKO Building Products LLC
• GAF Materials Corporation
• Inc, Boral Ltd
• Fletcher Building
• North American Roofing Services, Inc

 These firms have been emphasizing on strengthening their strategic landscape through partnerships, M&As, collaborations, etc., to make the most of the available growth opportunities.
 

Impact of the COVID-19 pandemic

The sudden onset of the COVID-19 pandemic caused havoc in the roofing materials business scenario. The construction sector, which was already going through a liquidity crisis, faced numerous disruptions in its entire value chain due to stringent lockdown measures and trade barriers on non-essential commodities. Besides, price inflation, labor migration, and non-availability of construction materials resulted in a lack of timely execution, cost overruns and delays, halts, and cancellation of several construction projects.
 

However, with the eased regulatory measures, resuming industrial operations throughout several economies, and the rising demand for residential and commercial properties, the industry is expected to recover gradually in the foreseeable future.
 

The market research report on roofing materials includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Foot and revenue in USD Billion from 2017 to 2032 for the following segments:

Click here to Buy Section of this Report

Market, By Materials

• Bituminous
• Concrete & clay tile
• Metal
• Elastomer
• Plastics
• Others

Market, By Construction Type

• New Construction
• Reroofing

Market, By Application

• Residential
• Non residential

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa