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Roofing Material Market Trends

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

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Roofing Material Market Trends

The roofing material industry is growing due to the rise in residential construction. More new homes, renovations, and replacements are increasing the demand for roofing materials. Population growth and urbanization are key factors driving this demand, leading to more single-family and multi-family homes. Home renovations also boost the need for new roofs or upgrades. Governments help this market grow by offering subsidies, incentives, and funding programs.

For example, energy-efficient roofing materials like cool roofs and solar panels often get tax credits or financial support. This helps reduce energy use and promotes sustainability. In areas prone to natural disasters, governments may fund resilient roofing materials to make buildings stronger against extreme weather. Affordable housing projects and green building standards also encourage the use of advanced roofing technologies. These government programs not only increase demand but also make sustainable and energy-efficient roofing options more accessible.

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.