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Roofing Market Research Report 2024
Roofing Market Global Industry Analysis and Forecast (2024- 2032) By Product Type (Metal, Elastomeric, Roofing Tiles, Modified Bitumen, Asphalt Shingles, Plastic), Roofing Type (Flat Roof, Slope Roofs), Application (Residential, Commercial, Industrial) And Region
Global Roofing Market Synopsis
The Global Roofing Market was worth USD 81.3 Billion in 2023. As such, the forecast is that the market is expected to reach USD 130.4 Billion by 2032 with a CAGR of 5.39% from 2024 to 2032.
Roofing refers to the process of covering the top of a building with materials designed to protect the structure from environmental elements such as rain, snow, and sunlight. It involves the selection and installation of various materials that ensure the durability, insulation, and aesthetics of the building's roof.
- The Roofing market is a segment of the broader mental health therapeutics industry, focused on addressing the needs of individuals diagnosed with schizoaffective disorder. This condition, characterized by a combination of symptoms from both schizophrenia and mood disorders, presents unique challenges for treatment. The market is driven by a growing recognition of the condition's complexity and the need for specialized therapies that address both psychotic and mood-related symptoms.
- Advancements in pharmacological treatments, including the development of new antipsychotic and mood-stabilizing medications, are contributing to market growth. Companies are investing in research and development to create more effective and personalized treatment options. Additionally, increasing awareness and improved diagnostic techniques are expanding the patient base, further fueling demand for innovative therapies.
- The Roofing market is led by established pharmaceutical companies and emerging biotech firms focusing on targeted therapies. Regionally, North America dominates due to advanced healthcare infrastructure, while Europe and Asia-Pacific are also important markets seeing increasing investments in mental healthcare. Challenges include high treatment costs and patient response variability, but ongoing research is expected to drive future growth.
Top Key Players Involved Are:
"GAF (USA), Owens Corning (USA), CertainTeed (USA), IKO Industries (Canada), Johns Manville (USA), TAMKO Building Products (USA), Atlas Roofing (USA), Euroshield (Canada), Sika AG (Switzerland), Boral Roofing (Australia), Braas Monier (Germany), Velux (Denmark), Saint-Gobain (France), Duro-Last Roofing (USA), Firestone Building Products (USA), Kingspan Group (Ireland), MBCI (USA), Soprema (France), Giant (Japan), VELUX (Denmark), Owens Corning (USA), CEMEX (Mexico), CPG Consultants (Australia), Hanwha (South Korea), Shingle Manufacturer Inc. (USA), Other Active Players."
Global Roofing Market Trend Analysis:
Increased Urbanization
- Urbanization is a key driver of the roofing market. As more people move to urban areas, the demand for residential and commercial buildings rises, leading to a greater need for roofing solutions. Urbanization is accompanied by significant infrastructure development, including new housing projects, commercial spaces, and public buildings, all of which require robust and reliable roofing systems.
- The increasing population density in urban areas puts pressure on existing infrastructure, necessitating renovations and upgrades to older buildings. This creates a substantial market for roofing replacements and refurbishments. Additionally, urban environments often have stricter building codes and standards, further driving the demand for high-quality roofing materials.
- Urbanization also drives the demand for innovative roofing solutions that offer energy efficiency, durability, and aesthetic appeal. As cities become more densely populated, there is a growing emphasis on sustainable building practices, including the use of eco-friendly and energy-efficient roofing materials.
Green Roofing Technologies
- Green roofing technologies present a significant opportunity in the roofing market. As environmental concerns continue to grow, there is increasing interest in roofing solutions that contribute to sustainability and energy efficiency. Green roofs, which involve the installation of vegetation on building rooftops, offer benefits such as improved insulation, reduced stormwater runoff, and enhanced urban biodiversity.
- The adoption of green roofing technologies is supported by various government incentives and regulations aimed at promoting sustainable building practices. These incentives can include tax credits, grants, and subsidies for incorporating green roofs into new and existing buildings. This support helps offset the initial costs and encourages more widespread adoption of green roofing solutions.
- Advancements in green roofing technologies are making them more accessible and cost-effective. Innovations in lightweight growing mediums, efficient irrigation systems, and durable plant varieties are enhancing the practicality and longevity of green roofs.
Global Roofing Market Segment Analysis:
The Global Roofing Market is Segmented into Product Type, Roofing Type, Application, and Region.
By Product Type, the Metal segment is expected to dominate the market during the forecast period.
- The metal segment is set to lead the growth of the roofing market due to its numerous advantages over traditional materials. Metal roofs, including those made of aluminum, steel, and copper, offer superior durability, longevity, and resistance to extreme weather conditions. These properties make metal roofs highly desirable for both residential and commercial applications. The increasing demand for energy-efficient and low-maintenance roofing solutions is further propelling the popularity of metal roofing, as these materials reflect solar heat, thereby reducing cooling costs.
- Metal roofing technology has enhanced their aesthetic appeal and performance. Modern metal roofs come in a variety of styles and colours, allowing for greater design flexibility while maintaining high functionality. The growing focus on sustainable construction practices also supports the rise of metal roofing, as these materials are often recyclable and contribute to reduced environmental impact. As a result, the metal segment is expected to dominate the roofing market's growth trajectory.
By Application, the Residential segment held the largest share in 2023.
- The residential segment emerged as the largest contributor to the growth of the roofing market, driven by a surge in new home constructions and renovations. The increasing emphasis on enhancing the aesthetic appeal and durability of residential properties has fueled demand for advanced roofing solutions. Homeowners' growing interest in energy-efficient and sustainable roofing materials also played a significant role in this trend, as they sought options that offer long-term benefits and lower energy costs.
- The rise in disposable incomes and changing lifestyles have led to higher investments in home improvements, including roofing upgrades. This trend was supported by favourable economic conditions and government incentives for energy-efficient home enhancements. As a result, the residential segment not only led in market share but also set the pace for innovations and advancements within the roofing industry.
Global Roofing Market Regional Insights:
Asia Pacific Expected to Dominate the Market Over the Forecast Period
- The Asia Pacific region is poised to lead the growth of the roofing market, driven by rapid urbanization and infrastructural development. Countries such as China, India, and Japan are experiencing a construction boom, with new residential and commercial projects significantly boosting demand for roofing materials. The region’s expanding middle class and increasing investments in real estate contribute to the rising need for modern, durable roofing solutions that enhance property value and performance.
- Government initiatives and policies promoting sustainable building practices are further fueling the market. The push for eco-friendly and energy-efficient roofing materials aligns with global trends toward sustainability, making Asia Pacific a key player in the industry's advancement. As the region continues to develop economically and technologically, its dominance in the roofing market is expected to grow, driven by both new construction and renovation projects across various sectors.
Global Roofing Market Top Key Players:
- GAF (USA)
- Owens Corning (USA)
- CertainTeed (USA)
- IKO Industries (Canada)
- Johns Manville (USA)
- TAMKO Building Products (USA)
- Atlas Roofing (USA)
- Euroshield (Canada)
- Sika AG (Switzerland)
- Boral Roofing (Australia)
- Braas Monier (Germany)
- Velux (Denmark)
- Saint-Gobain (France)
- Duro-Last Roofing (USA)
- Firestone Building Products (USA)
- Kingspan Group (Ireland)
- MBCI (USA)
- Soprema (France)
- Gient (Japan)
- VELUX (Denmark)
- Owens Corning (USA)
- CEMEX (Mexico)
- CPG Consultants (Australia)
- Hanwha (South Korea)
- Shingle Manufacturer Inc. (USA), Other Active Players
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Global Roofing Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 81.3 Bn. |
|
Forecast Period 2024-32 CAGR: |
5.39% |
Market Size in 2032: |
USD 130.4 Bn. |
|
Segments Covered: |
By Product Type |
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|
|
By Roofing Type |
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By Application |
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By Region |
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Frequently Asked Questions
What would be the forecast period in the Roofing Market research report?
The forecast period in the Roofing Market research report is 2024-2032.
Who are the key players in the Roofing Market?
GAF (USA), Owens Corning (USA), CertainTeed (USA), IKO Industries (Canada), Johns Manville (USA), TAMKO Building Products (USA), Atlas Roofing (USA), Euroshield (Canada), Sika AG (Switzerland), Boral Roofing (Australia), Braas Monier (Germany), Velux (Denmark), Saint-Gobain (France), Duro-Last Roofing (USA), Firestone Building Products (USA), Kingspan Group (Ireland), MBCI (USA), Soprema (France), Giant (Japan), VELUX (Denmark), Owens Corning (USA), CEMEX (Mexico), CPG Consultants (Australia), Hanwha (South Korea), Shingle Manufacturer Inc. (USA), and Other Active Players.
What are the segments of the Roofing Market?
The Roofing Market is segmented into Product Type, Application, and region. By Type, the market is categorized into Metal, Elastomeric, Roofing Tiles, Modified Bitumen, Asphalt Shingles, and Plastic. By Roofing Type, the market is categorized into Flat Roof and Slope Roof. By Application, the market is categorized into Residential, Commercial, and Industrial. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Roofing Market?
Roofing refers to the process of covering the top of a building with materials designed to protect the structure from environmental elements such as rain, snow, and sunlight. It involves the selection and installation of various materials that ensure the durability, insulation, and aesthetics of the building's roof.
How big is the Roofing Market?
Global Roofing Market was worth USD 81.3 Billion in 2023. As such, the forecast is that the market is expected to reach USD 130.4 Billion by 2032 with a CAGR of 5.39% from 2024 to 2032.
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Base Year:2023
Historical Data:2017-2022
No of Pages:240
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