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Roofing Material Market Size

Report ID: GMI1335
Published Date: Nov 2024
Report Format: PDF

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Roofing Material Market Size

The roofing material market was valued at USD 133.2 billion in 2023 and is estimated to grow at a CAGR of 4.6% during 2024 to 2032, as more people need roofs that support solar technology., as more people need roofs that support solar technology. Homeowners and businesses are choosing solar energy to save on electricity costs and be more eco-friendly, which boosts the demand for solar-compatible roofs. This has led to the development of special roofing materials like solar shingles and tiles with built-in solar power, eliminating the need for extra mounting structures.

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Additionally, the focus on energy-efficient building practices has increased the demand for roofing materials that enhance solar panel performance. Examples include 'cool roofs' that reflect sunlight and insulation materials that improve energy efficiency. Governments worldwide are supporting this trend by offering incentives and tax rebates for solar panel installations and energy-efficient roofing, speeding up the adoption of solar technologies.

Roofing Material Market Report Attributes
Report Attribute	Details
Base Year:	2023
Roofing Material Market Size in 2023:	USD 133.2 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	4.6%
2024 – 2032 Value Projection:	USD 199.3 Billion
Historical Data for:	2021 – 2023
No. of Pages:	230
Tables, Charts & Figures:	397
Segments covered:	Material, Type of Construction, Design, Application, Sales Channel, Region
Growth Drivers:	Increased solar panel installations Increasing construction of nonresidential building activities Increase in Residential Construction
Pitfalls & Challenges:	Expensive Nature of Tile Roofing Prevalence of supply chain disruption

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for roofing material was reached USD 133.2 billion in 2023 and is estimated to grow at a 4.6% CAGR from 2025 to 2032, driven by the increasing adoption of solar-compatible roofs.

The bituminous segment reached USD 57.1 billion in 2023 and is anticipated to grow at a 5.2% CAGR up to 2032, due to its cost-effectiveness, durability, and versatility.

The residential and home improvement segment accounted for over 59.7% of the market share in 2023 and is expected to grow at a 5.3% CAGR till 2032, led by increased home purchases, renovations, and a focus on energy efficiency.

The U.S. roofing material market held approximately 92.31% share in 2023 and is expected to grow at a 4.7% CAGR through 2032, propelled by a large construction industry, technological innovation, and a strong manufacturing base.

Major players in the roofing material industry include Atlas Roofing, Boral Roofing, Carlisle Companies, CertainTeed, Crown Building Products, CSR, Eagle Roofing Products, Etex, Fletcher Building, GAF Materials, Johns Manville, Metal Sales Manufacturing, Owens Corning, TAMKO Building Products, and Wienerberger.