Roofing Market: Global Market Analysis Growth and Forecast 2022-2029

Global roofing market was valued at US $212.67 Bn. in 2021, and it is expected to reach US $ 312.30 Bn. by 2029 with a CAGR of 4.92% during the forecast period.

Roofing Market Overview:

Rain, heat, and other environmental factors are all protected by roofing. Roofs in residential and commercial buildings, such as hotels, offices, and educational institutions, are made of bitumen, ceramic coated granules, sand, clay, fiberglass, concrete, and polycarbonate. The development of new, effective roofing materials, investment property, the increased popularity of environmentally-friendly hygiene products, growing rubber roofs, and increasing building upgrades and renovations are all driving the global roofing industry forward. Also, because of the growing need for hard coatings from a variety of end-user applications. Global Roofing Market To know about the Research Methodology :- Request Free Sample Report

Global Roofing Market Dynamics:

Excellent Fire Retardant Property of Metal Roofing: As the number of wildfires rises, metal roofing is anticipated to grow dramatically. Metal roofing provides good re-resistant roofing benefits, making it a popular alternative for re-codes and standards. Metal roofing comes in two forms: panels and shingles, and is made of copper, aluminium, stainless steel, and zinc. The most prevalent cost-effective metals are galvanized steel and aluminium. Metal roofing is a long-lasting material that outlasts other options. In the summer, metal roofing absorbs the sun's UV rays, keeping the building cooler. The metal roofing also adds to the building's insulation, allowing it to maintain consistent temperatures in both the winter and summer. Metal roofing is becoming more popular in both industrial and residential construction. Metal roofs have been one of the most difficult choices for landowners and professional design architects in the roofing sector. Metal roofing is lighter than bituminous shingle roofing or tiles. Because of its strength, longevity, and low maintenance, it does not put a strain on the building's structure like other roofing materials. The Most Of Demand is Likely to be Met by Re-Roofing: As multiple incidences of adverse weather events were seen in several places of various regions, residential re-roofing activities caused a huge demand for asphalt shingles from prior years. Residential reroofing is expected to continue to be the largest market for asphalt shingles in the future. 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. Before 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 likely to move the roofing market forward over the forecast period.

Roofing Materials Have a Variety of Effects:

Climate change may have an impact on product quality. Some materials, for example, are unable to survive intense heat and ultraviolet radiation from sunshine but are quickly damaged by repeated freeze-thaw cycles. Bituminous shingles can be damaged if installed in freezing temperatures, and because they aren't of the highest quality, they are more susceptible to wind lifting and can break easily in different temperatures. The roofing materials' durability and repair criteria should be taken into account. Raw wood shakes and shingles, for example, require a lot of upkeep. Power, natural resources, and the toxicity of the emissions emitted should all be considered while making roofing products. These are made of limited-supply or environmentally sensitive materials.

Global Roofing Market Segment Analysis:

Based on Type, the roofing market is segmented as, chemicals, and materials. In 2021, the chemicals segment was dominant and held almost xx% of the overall market share in terms of revenue thanks to chemical roofing enhanced and value-added characteristics. Chemical roofing features corrosion resistance, toughness, and high-temperature stability. Detailed information about each segment is covered in the MMR’s report. Roofing MarketBased on Application, the roofing market is segmented as follows, residential, commercial, industrial, and others. In 2021, the residential segment was dominant and held almost xx% of the overall market in terms of revenue. 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 are generating demand for roofing materials for residential use. The rising population and an increasing desire for single-family housing constructions are two major factors driving the need for residential roofing materials. Likewise, easy finance and low-interest rates contribute significantly to the overall demand for residential constructions. Detailed information about each segment is covered in the MMR’s report.

Global Roofing Market Regional Insights:

In 2021, Asia Pacific had the largest share of the roofing market, accounting for 39.21%. Thanks to a rapid increase in the construction industry, an increase in the manufacturing sector, strict government regulations to uplift household energy performance, increased durability, easy installation, and increased urbanization in developing countries such as China and India in the region, Asia Pacific is expected to have the highest growth. Thanks to the surge of all applications in the building industry, new construction roofing has the biggest market share in the global roofing sector. The objective of the report is to present a comprehensive analysis of the 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 have 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 report also helps in understanding the global market dynamics, structure by analyzing the market segments and projecting the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.

Global Roofing Market Scope: Inquire before buying

Global Roofing Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2021-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 212.67 Bn.
Forecast Period 2021 to 2029 CAGR: 4.92% Market Size in 2029: US $ 312.30 Bn.
Segments Covered: by Type • Chemicals • Materials
by Application •Residential • Commercial • Industrial • Others

Global Roofing Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Global Roofing Market Key Players

GAF Materials Corporation • Atlas Roofing Corporation • Owens Corning • Braas Monier Building Group • BASF SE • 3M • The Dow Chemical Company • Duro Last Roofing • Sika AG • Standard Industries Inc. • Johns Manville • Saint Gobain • Boral Ltd. • Etex • Tamko Building Products • Carlisle Company Inc. • Others

Frequently Asked Questions:

1. What is the forecast period considered for the Roofing market report? Ans. The forecast period for the global roofing market is 2021-2029. 2. Which key factors are hindering the growth of the Roofing market? Ans. The changing quality of roofing products because of varying climatic conditions across the globe is the key factor expected to hinder the market growth during the forecast period. 3. What is the compound annual growth rate (CAGR) of the Roofing market for the next 6 years? Ans. The global roofing market is expected to grow at a CAGR of 4.92% during the forecast period (2021-2029). 4. What are the key factors driving the growth of the Roofing market? Ans. The excellent fire retardant property of metal roofing and increase in the roofing product demand because of re-roofing are the key factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered for the Roofing market report? Ans. GAF Materials Corporation, Atlas Roofing Corporation, Owens Corning, Braas Monier Building Group, BASF SE,3M, The Dow Chemical Company, Duro Last Roofing, Sika AG, Standard Industries Inc., Johns Manville, Saint Gobain, Boral Ltd., Etex, Tamko Building Products, Carlisle Company Inc., and Others.
1. Global Roofing Market: Research Methodology 2. Global Roofing Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Roofing Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Roofing Market: 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 • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Roofing Market Segmentation 4.1. Global Roofing Market, by Type (2021-2029) • Chemicals • Materials 4.2. Global Roofing Market, by Application (2021-2029) • Residential • Commercial • Industrial • Others 5. North America Roofing Market (2021-2029) 5.1. Global Roofing Market, by Type (2021-2029) • Chemicals • Materials 5.2. Global Roofing Market, by Application (2021-2029) • Residential • Commercial • Industrial • Others 5.3. North America Roofing Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Roofing Market (2021-2029) 6.1. European Roofing Market, by Type (2021-2029) 6.2. European Roofing Market, by Application (2021-2029) 6.3. European Roofing Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Roofing Market (2021-2029) 7.1. Asia Pacific Roofing Market, by Type (2021-2029) 7.2. Asia Pacific Roofing Market, by Application (2021-2029) 7.3. Asia Pacific Roofing Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Roofing Market (2021-2029) 8.1. The Middle East and Africa Roofing Market, by Type (2021-2029) 8.2. The Middle East and Africa Roofing Market, by Application (2021-2029) 8.3. The Middle East and Africa Roofing Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Roofing Market (2021-2029) 9.1. Latin America Roofing Market, by Type (2021-2029) 9.2. Latin America Roofing Market, by Application (2021-2029) 9.3. Latin America Roofing Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. GAF Materials Corporations 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. Atlas Roofing Corporation 10.3. Owens Corning 10.4. Braas Monier Building Group 10.5. BASF SE 10.6. 3M 10.7. The Dow Chemical Company 10.8. Duro Last Roofing 10.9. Sika AG 10.10. Standard Industries Inc. 10.11. Johns Manville 10.12. Saint Gobain 10.13. Boral Ltd. 10.14. Etex 10.15. Tamko Building Products 10.16. Carlisle Company Inc. 10.17. Others

About This Report

Report ID 13593
Category Material & Chemical
Published Date sep 2019
Updated Date Sep 2022
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