Residential Roofing Market: Global Industry Analysis and Forecast (2024-2030)

The Residential Roofing Market size was valued at US$ 10.84 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 4.7% from 2024 to 2030, reaching nearly US$ 14.96 Bn.
Global Residential Roofing Market Overview:
Residential Roofing Market is expected to reach US$ 14.96  Bn. by 2030. Residential roofing is intended to protect homes and other small structures that are used as primary living quarters. The segments of the Residential Roofing market are examined in this report (Type, Application, and Region). This report provides in-depth analysis of the leading market players and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a comprehensive examination of today's rapid advancements in all industry sectors. The major data analysis for the historical period from 2018 to 2023 is shown using facts and numbers, visuals, and presentations. This report looks at the market drivers, restraints, opportunities, and challenges for Residential Roofing. The investment recommendations in this MMR report are based on a careful assessment of the current competitive landscape in the Residential Roofing market.To know about the Research Methodology :- Request Free Sample Report
Residential Roofing Market Dynamics:
The key growth driver for the global residential roofing market is rising demand for residential roofing due to its high re-resistant roofing advantages from end-use applications such as re-codes and standards. In addition, the metal used in roofing absorbs UV radiation from the sun, keeping the structure cooler in the summer. Additional growth drivers for the global residential roofing market are high strength, durability, and low maintenance. Climate change, on the other hand, may have an impact on product quality, which is expected to limit the residential roofing market's growth during the forecast period.

The development of new, effective roofing materials, rising adoption of environmentally friendly hygiene products, investment property, and rubber roofs, as well as higher building rehabilitation, are expected to drive the global residential roofing market forward. Increased demand for hard coating from a variety of end-use applications is also expected to boost the growth of the market.

Roof leaks are a major source of concern for all homeowners because they shorten the lifespan of the roof and cause damage to other areas of the home. Regular roof maintenance allows you to identify the source of a leak before it happens and saves the time it takes to fix it. This aids in the secure and water-free maintenance of your roof.

The roof is an important construction structure because it protects the building and adds to its aesthetic appeal. Increased government and institutional support for the construction of housing infrastructure in emerging nations is driving demand for roofing materials for residential use. Rising population and an increasing desire for single-family housing constructions are two major factors boosting demand for residential roofing materials.

Furthermore, easy finance and low interest rates contribute significantly to the overall demand for residential constructions. Furthermore, as the population grows, so will the number of residential construction units such as single-family homes and flats. Increasing homeowner investments in green construction is expected to have a positive impact on future demand for roofing materials.
Residential Roofing Market Segment Analysis:
Based on the Type, the market is segmented into Asphalt Shingles, Metal Roofing, Solar tiles, Clay and Concrete tiles, Build roofing, and others. Asphalt Shingles segment is expected to hold the largest market share of xx% by 2030. In the residential roofing market, asphalt shingles are widely used. Residential construction spending is expected to rise, which will help the economy grow.

Demand for high-performance laminated asphalt shingles has risen dramatically in recent years, driven by increased interest in roofing materials that can withstand high winds, impacts, and deterioration from exposure to the weather. Single-family dwellings, in particular, are the source of new housing. Their high gains would boost the market for asphalt shingles, which builders choose because of their low pricing and ease of installation. Residential reroofing, which is a considerably larger section, would also see changes as homeowners fix older roofs that have worn out or have outlived their expected lifespan.

Based on the Application, the market is segmented into Reroofing, and New Construction Roofing. Reroofing segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024 -2030. As multiple incidences of adverse weather events were seen in several places of various regions, residential reroofing activities caused huge demand for asphalt shingles from past years. Residential reroofing is expected to continue to be the largest market for asphalt shingles during the forecast period.

The United States has a large number of older homes, many of which feature three-tab shingles that do not comply with contemporary construction requirements. Prior to a policy renewal, insurers may require homeowners to replace outdated shingles with newer, more durable laminated asphalt shingles as a condition of keeping coverage. As a result, rising demand for reroofing is expected to drive the residential roofing market forward during the forecast period.

New Construction Roofing segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. This is due to the growing number of applications in the construction industry. The Indian government has set a goal of 20 million adaptable houses by 2023, which will have a significant market influence. According to the International Trade Administration, China's construction industry is expected to grow by 5% on an annual average in real terms between 2024 and 2030.
Residential Roofing Market Regional Insights:
Asia Pacific region is expected to dominate the Residential Roofing Market during the forecast period 2024-2030. The Asia Pacific region is expected to hold the largest market share of xx% by 2030. This is due to the rapid growth in the construction sector, increased manufacturing, strong government rules to improve household energy performance, greater durability, ease of installation, and increased urbanisation in developing nations such as China and India in the region. According to the Japanese government, Japan is stepping up efforts to incorporate innovative building technologies into the construction sector by collaborating with private companies.

North America region is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. This is due to the growing demand for the residential roofing in the United States, Canada, and Mexico in the region.

The objective of the report is to present a comprehensive analysis of the Global Residential Roofing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Residential Roofing Market dynamic and structure by analyzing the market segments and projecting the Global Residential Roofing Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Residential Roofing Market make the report investor’s guide.
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Global Residential Roofing Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 10.84 Bn.


Forecast Period 2024 to 2030 CAGR:
4.7%
Market Size in 2030:
US $ 14.96 Bn.


 Segments Covered:
by Type
Asphalt Shingles
Metal Roofing
Solar tiles
Clay and Concrete tiles
Build roofing
Others


by Application
Reroofing
New Construction Roofing


by Roofing Pattern
Flat Roof
Slope Roof



Residential Roofing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Residential Roofing Market Key Players
1 GAF Materials Corporation
2 Atlas Roofing Corporation
3 Owens Corning
4 Braas Monier Building Group
5 Etex
6 Boral Ltd.
7 TAMKO Building Products
8 Saint Gobain SA
9 Johns Manville
10 Carlisle Companies Inc.
11 Knauf Insulation Inc.
12 BASF SE
13 Certain Teed
14 Royal Group Inc.
15 Rockwool Group
16 Lapolla
17 Bayer
18 Sika Sarnafil Inc.

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Market?
Ans. Asia Pacific is expected to hold the highest share in the Residential Roofing Market.

2] Who are the top key players in the Market?
Ans. GAF Materials Corporation, Atlas Roofing Corporation, Owens Corning, Braas Monier Building Group, and Etex are the top key players in the Residential Roofing Market.

3] Which segment is expected to hold the largest market share in the Market by 2030?
Ans. Asphalt Shingles type segment is expected to hold the largest market share in the Residential Roofing Market by 2030.

4] What is the market size of the Residential Roofing Market by 2030?
Ans. The market size of the Residential Roofing Market is expected to reach US $ 14.96 Bn. by 2030.

5] What was the market size of the Residential Roofing Market in 2023?
Ans. The market size of the Residential Roofing Market was worth US $ 10.84 Bn. in 2023.