Roof Cladding Market: Surge in Global Demand for Green Buildings, Government Initiatives, and Manufacturer Investments

Roof Cladding Market was valued at USD 82.5 Billion in 2021, and is expected to reach USD 119.13 Billion by 2029, exhibiting a CAGR of 4.7 % during the forecast period (2022-2029) Although it is more customary for building owners to use cladding material for walls, there is an increasing adoption of cladding material for roofing systems as well. Roof cladding is used to give roof a weatherproof layer and to stop water and other elements from entering the building. Although the primary application of roof cladding is to provide a weatherproof surface, it is also used to provide a decorative element. This is one of the factor driving the growth of roof cladding market. Roofs are among one of the largest exterior parts of the buildings and increasing their appeal improves the overall aesthetics of the building. There is a wide range of materials available for roof cladding both residential and non-residential constructions. Metal claddings are one of the most preferred types of cladding material as they are highly flexible and can be used in all types of architectural designs. Some of the other major materials used for roof cladding include terracotta, concrete, clay, slate, and others. The market for roof claddings is largely driven by the growing residential and commercial construction activity across the world. The roof cladding market is also driven by the growing consumer disposable income. Global Roof Cladding MarketTo know about the Research Methodology :- Request Free Sample Report

Roof Cladding Market Dynamics

Growing Roof Renovation and Replacement Activities across the World The global construction industry witnessed a stable growth till 2019 before the pandemic due to the rising usage of drones, 3D printing, and building information modeling (BIM) technology. Residential and commercial construction activities grew moderately across the world in 2019. However, the COVID-19 pandemic resulted in significant changes in the global construction industry as well as roof cladding market. Delay in new construction activities and intensification of shortage of labor, along with an inadequate supply of raw materials have been some effects of the pandemic on the global construction industry. As the global economy is recovering from the impact of the COVID-19 with several governments announcing relief packages to revive their economies, the residential and commercial construction industries have started witnessing an increase in roof renovation and replacement activities, further driving the growth of roof cladding market. The preference for roof replacements is expected to continue over the forecast period as homeowners are preferring renovating existing buildings instead of new homes. This trend is expected to continue boosting the roof cladding market during the forecast period. Millennials are expected to opt for home renovations instead of buying new homes due to the economic uncertainty across the world resulting from the COVID-19 pandemic. This is expected to increase the demand for roof cladding over the forecast period. Roof Cladding Market 1 Surging Global Demand for Green Buildings and Government Initiatives New buildings are a significant source of future emissions, particularly in rapidly developing economies with growing populations. Existing building stocks are expected to account for the majority of building floor areas in a number of middle- and high-income countries by 2050 to improve existing buildings for their sustainable transition to green buildings. Efficiency and decarbonization standards are becoming highly stringent with technological advancements. This, in turn, is expected to result in the existing buildings being regularly monitored and retrofitted to meet new high-efficiency standards, while new buildings have to comply with ever-improving standards and norms. This is expected to drive the roof cladding market during the forecast period. As an increasing number of companies and governments aim to become carbon neutral by 2050, green buildings play a key role in promoting low-carbon economic growth and ensuring a clean energy transition. Green buildings will provide a USD 24.7 trillion investment potential in emerging market cities by 2030 with a population of more than 500,000 people. Stimulus programs initiated by governments of different countries for the global construction industry are effective tools for its economic recovery from the impact of the pandemic. Investments for the development of green buildings enable market players to mitigate potential risks associated with the global transition to low-carbon economies. Factors such as increasing number of stringent regulations and changing consumer preferences have increased the risk of resource-inefficient buildings losing their economic value. Non-compliant buildings may face legal actions and fines, making them highly expensive to operate and insure, as well as difficult to lease or sell. All these factors are expected to fuel the construction of green buildings, thereby driving the growth of the roof cladding market over the forecast period. Roof Cladding Market 2High Material and Installation Costs of Roof Claddings The installation of roof cladding systems can occasionally be very expensive, depending upon the material. While timber or metal cladding can be relatively inexpensive, concrete cladding can result in high costs mainly due to the increased amount of labor required. Depending upon the size of the structure and the material used, the installation of roof cladding can take significant amount of time. The time required for roof cladding depends on the quality of the original structure, which must be comprehensive enough to support the roof cladding. While cladding is low-maintenance and requires just a simple wash on a regular basis, it would have significant repercussions in cases where it is broken or dented, as its aesthetic qualities are reduced and it may be difficult to repair the damaged part. This is especially common with metal roof cladding, which can easily be dented. Also, if the roof cladding is not installed properly, the underlying structure can be damaged. These factors are expected to restraint the roof cladding market growth during the forecast period.

Roof Cladding Market Segment Analysis

Based on Material Type, Concrete and Clay segment held the largest roof cladding market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Concrete & clay tiles offer durability, superior aesthetics, and versatility, along with the ease of recycling. The high durability of these tiles and their ability to last for more than 50 years, as well their easy availability in a variety of colors, finishes, and styles, are expected to drive the demand for concrete & clay tiles to be used as roofing materials across the world over the forecast period. The earthen and dense composition of tiles offers ventilation properties and increased thermal mass that help in reducing energy consumption and costs of buildings. This, in turn, drives the demand for concrete & clay tiles over the forecast period. Moreover, they can be recycled entirely after their end use or damage, thereby leading to increased demand for concrete & clay tiles over the forecast period. However, growing consumer preference for stone-coated steel roofs is expected to restrain the demand for these tiles during the forecast period. Based on Application, Residential segment held the largest roof cladding market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Increasing institutional and government support for the development of housing infrastructures in emerging economies is expected to augment the demand for roof cladding used in residential buildings. Factors such as the increasing global population and rising preference of consumers for single-family housing structures are expected to fuel the growth of residential segment of roof cladding market during the forecast period. The easy availability of credit and the low-interest rates play significant roles in the overall demand for new residential structures such as individual houses or private dwellings, lodging or rooming houses, dormitories, and apartments or condominiums. The increasing willingness of residential building owners for transforming their buildings into green buildings is expected to drive the demand for roof cladding used in these buildings.

Roof Cladding Market Regional Insights

Asia Pacific region dominated the global roof cladding market in 2021 and is expected to hold the largest market share during the forecast period. Asia Pacific is the fastest-growing region in the world, contributing over two-thirds to global economic growth. The increasing trade conflicts between the U.S. and China, coupled with regional tensions such as the bilateral relationship between South Korea and Japan, are expected to impact the overall economic growth of Asia Pacific during the forecast period. Asia Pacific is home to emerging economies such as China, India, Thailand, and Indonesia. It also has developed countries such as Japan and Australia. Ongoing urbanization in the region and growing population in several countries, including China and India, are expected to drive industrial growth in Asia Pacific. The construction industry in the region is expected to witness significant growth during the forecast period thanks to the rising per capita income, ongoing urbanization, and growing population. The economies in Asia Pacific are expected to flourish over the forecast period thanks to massive investments by governments of different countries of the region for the development of public infrastructures and the growth of their residential construction industries. These factors are expected to contribute to the growth of roof cladding market in Asia Pacific over the forecast period. The growth of residential, commercial, and industrial sectors in the region due to the sustainable economic growth of Asia Pacific is expected to fuel construction activities, thereby driving the growth of roof cladding market in the region over the forecast period. The flourishing tourism sector in Asia Pacific has also led to an increasing requirement of restaurants, resorts, and food chains in the region. In addition, ongoing urbanization and improving standard of living of the masses are expected to contribute to the increase of residential and commercial construction activities in Asia Pacific, including the development of shopping malls and retail chains. This is expected to contribute to the growth of roof cladding market in Asia Pacific over the forecast period.

Global Roof Cladding Market Scope: Inquiry Before Buying

Roof Cladding Market
Base Year 2021 Forecast Period 2022-2029
Historical Data CAGR Market Size in 2021 Market Size in 2029
2017 to 2021 4.7% US$ 82.5 Bn US$ 119.13 Bn
Segments Covered
by Material Type • Asphalt and Slate • Concrete and Clay • Tiles • Metal • Fiberglass • Others by Roof Type • Flat Roof • Slope Roof by Application • Residential • Commercial • Industrial
Regions Covered
North America • United States • Canada • Mexico Europe • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe Asia Pacific • China • S Korea • Japan • India • Australia • Indonesia • Malaysia • Vietnam • Taiwan • Bangladesh • Pakistan • Rest of APAC Middle East and Africa • South Africa • GCC • Egypt • Nigeria • Rest of ME&A South America • Brazil • Argentina • Rest of South America

Global Roof Cladding Market Key Players

• Cembrit Holdings A/S • Owens Corning • CertainTeed Corporation • Decra Roofing Systems Inc. • BMI Group • Everest Industries Limited • IKO Industries Ltd. • Firestone Building Products • Johns Manville • Kingspan Group • Reed's Metal Inc. • GAF • Shildan Group • TAMKO Buildings Products, Inc. • Sika AG • Carlisle Companies Incorporated • Westlake Corporation • Atas International, Inc. Frequently Asked Questions: 1] What is the growth rate of the Global Roof Cladding Market? Ans. The Global Roof Cladding Market is growing at a significant rate of 4.7% during the forecast period. 2] Which region is expected to have the highest growth rate in the Global Roof Cladding Market? Ans. The Asia Pacific region is expected to hold the highest growth rate in the Roof Cladding Market during the forecast period. 3] What is the market size of the Global Roof Cladding Market by 2029? Ans. The market size of the Roof Cladding Market by 2029 is expected to reach USD 119.13 Bn. 4] What are the major key players of the Global Roof Cladding Market? Ans. The major key players of the Global Roof Cladding Market are Cembrit Holdings A/S, Owens Corning, CertainTeed Corporation, Decra Roofing Systems Inc., and BMI Group. 5] What factors are driving the growth of the Global Roof Cladding Market in 2021? Ans. Boost in the wealth of emerging economies and availability of low-cost raw materials are the major factors expected to drive the Global Roof Cladding Market during the forecast period.
1. Global Roof Cladding Market Size: Research Methodology 2. Global Roof Cladding Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Roof Cladding Market Size 2.2. Summary 2.2.1. Absolute Opportunity 2.2.2. Key Findings 2.2.3. Industry Recommendations 3. Global Roof Cladding Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region 3.12. COVID-19 Impact on the Market 4. Global Roof Cladding Market Size Segmentation 4.1. Global Roof Cladding Market Size, by Material Type (2021-2029) • Asphalt and Slate • Concrete and Clay • Tiles • Metal • Fiberglass • Others 4.2. Global Roof Cladding Market Size, by Roof Type (2021-2029) • Flat Roof • Slope Roof 4.3. Global Roof Cladding Market Size, by Application (2021-2029) • Residential • Commercial • Industrial 5. North America Roof Cladding Market (2021-2029) 5.1. North America Roof Cladding Market Size, by Material Type (2021-2029) • Asphalt and Slate • Concrete and Clay • Tiles • Metal • Fiberglass • Others 5.2. North America Roof Cladding Market Size, by Roof Type (2021-2029) • Flat Roof • Slope Roof 5.3. North America Roof Cladding Market Size, by Application (2021-2029) • Residential • Commercial • Industrial 5.4. North America Roof Cladding Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Roof Cladding Market (2021-2029) 6.1. Europe Roof Cladding Market, by Material Type (2021-2029) 6.2. Europe Roof Cladding Market, by Roof Type (2021-2029) 6.3. Europe Roof Cladding Market, by Application (2021-2029) 6.4. Europe Roof Cladding Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 7. Asia Pacific Roof Cladding Market (2021-2029) 7.1. Asia Pacific Roof Cladding Market, by Material Type (2021-2029) 7.2. Asia Pacific Roof Cladding Market, by Roof Type (2021-2029) 7.3. Asia Pacific Roof Cladding Market, by Application (2021-2029) 7.4. Asia Pacific Roof Cladding Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest of APAC 8. Middle East and Africa Roof Cladding Market (2021-2029) 8.1. Middle East and Africa Roof Cladding Market, by Material Type (2021-2029) 8.2. Middle East and Africa Roof Cladding Market, by Roof Type (2021-2029) 8.3. Middle East and Africa Roof Cladding Market, by Application (2021-2029) 8.4. Middle East and Africa Roof Cladding Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest of ME&A 9. South America Roof Cladding Market (2021-2029) 9.1. South America Roof Cladding Market, by Material Type (2021-2029) 9.2. South America Roof Cladding Market, by Roof Type (2021-2029) 9.3. South America Roof Cladding Market, by Application (2021-2029) 9.4. South America Roof Cladding Market, by Country (2021-2029) • Brazil • Argentina • Rest of South America 10. Company Profile: Key players 10.1. Cembrit Holdings A/S 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Owens Corning 10.3. CertainTeed Corporation 10.4. Decra Roofing Systems Inc. 10.5. BMI Group 10.6. Everest Industries Limited 10.7. IKO Industries Ltd. 10.8. Firestone Building Products 10.9. Johns Manville 10.10. Kingspan Group 10.11. Reed's Metal Inc. 10.12. GAF 10.13. Shildan Group 10.14. TAMKO Buildings Products, Inc. 10.15. Sika AG 10.16. Carlisle Companies Incorporated 10.17. Westlake Corporation 10.18. Atas International, Inc.

About This Report

Report ID 171422
Category Material & Chemical
Published Date Jan 2023
Updated Date
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