India Roofing Market Report and Forecast 2024-2032

India Roofing Market Outlook

The India roofing market size is anticipated to grow at a CAGR of 7% in the forecast period of 2024-2032 to reach a value of USD 14,669.58 million by 2032. The market is being driven by the robust growth of the construction sector in the country.

Key Takeaways

• In July-September 2023, the construction sector in India grew by 13.3% from a year earlier, marking its strongest quarter in over a year.

• In Feb 2024, the Minister of Housing & Urban Affairs stated that India’s construction sector is poised to become the third largest in the global market.

• Reportedly, in 2023, the demand for luxury properties increased by 112% in India, especially in metro cities.

Roofing is defined as the process of covering the top of a house, building or any residential or commercial structure to protect it from external environment or hazards such as storms, rain, theft, and others. Roofing comprises different sections, including the framework that supports it, the design aspects that ensure its effectiveness and durability, and the materials used for the protective layer. Roofing is typically done with a strong material that is durable and provides safety and security to the people or objects inside the structure.

Technological advancements and the introduction of new roofing technologies are likely to be the major factors driving the India roofing market growth in India. These advancements include green roofing, which provides various advantages such as absorption of rainwater, insulation, and an aesthetically pleasing landscape. Additionally, the easy installation of roofing components and the upgradation of previous infrastructure owing to the presence of advanced machinery is anticipated to further boost the market in the forecast period.

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Key Trends and Developments

Rapid urbanisation, government housing initiatives, increased commercial and industrial construction, and a shift towards technological innovations and sustainable materials are positively impacting the India roofing market growth

India Roofing Market Trends

The market has been driven by various factors such as rapid urbanisation, increased construction activities, government initiatives for infrastructure development, and a growing preference for sustainable and durable roofing materials. Government initiatives aimed at infrastructure development and affordable housing projects, such as the "Pradhan Mantri Awas Yojana" (PMAY), have significantly contributed to the India roofing market growth.

The expansion of commercial spaces, industrial facilities, and infrastructural projects such as airports, metro stations, and factories has further propelled the demand for durable and high-quality roofing materials. The need for specialised roofing solutions that offer thermal insulation, energy efficiency, and sustainability features is also on the rise in this segment.

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Market Segmentation

“India Roofing Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

The growing population and urbanisation has surged the demand for housing facilities

The residential sector is anticipated to account for a significant share of the market in the coming years. This can be attributed to the rising population, increasing disposable income, and rapid urbanisation activities across India. These factors are likely to propel the construction activities of residential complexes or apartments, consequently increasing the demand for roofs, as roofing is a major part of any residential structure. Roofing protects the structure from rain, strong winds, sunlight, and thieves, and keeps the house warm in winter and cool in summer.

Meanwhile, the commercial sector also accounts for a significant portion of the India roofing market share. This can be attributed to the rising demand for office space and, the increasing construction of hotels, shopping malls, retail stores, and warehouses, among others, in the country. Roofs are of grave importance in any commercial building, owing to the strong need for safety and security of the structure.

Rising environmental awareness and demand for durability has propelled the popularity of metal roofs

On the basis of material, metal roofs are likely to account for a significant share of the market. Metal roofs are witnessing increased demand as they provide resistance to fire and impart strength and durability to the structure due to their superior quality. The increasing inclination of builders towards metal roofs is expected to propel the overall India roofing market growth.

Over the forecast period, the market is expected to be aided by the rising environmental awareness in India. As metal roofs can lower energy consumption, can be recycled, and reduce a home's carbon footprint, the material is expected to be one of the most preferred components towards structuring a building in the coming years.

On the other hand, tiles are expected to account for a sizable portion of the India roofing market share. This can be attributed to the material’s extensive utilisation in rural areas and its combination of aesthetic appeal, durability, and environmental sustainability.

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Competitive Landscape

Major players in the India roofing market are increasingly focusing on adoption of sustainable technologies

Other key players in the India roofing market are Coated Products Limited, Hindalco Ind Ltd., and CK Birla Group, among others.

Companies in the India roofing market are investing in research and development to introduce new products that offer better performance, energy efficiency, and environmental sustainability. With an increasing focus on sustainability, companies are adopting green manufacturing practices and promoting eco-friendly roofing materials. Products such as solar roofs, green roofs, and materials made from recycled content are gaining popularity among environmentally conscious consumers.

India Roofing Market Analysis by Region

In North India, the climatic conditions are characterised by a broad spectrum of temperatures, encompassing intensely hot summers and severely cold winters, with certain areas also encountering substantial snowfall. This environmental diversity necessitates roofing materials that not only provide superior thermal insulation but are also robust enough to bear the weight of heavy snow accumulations.

The choice often gravitates towards slate and tiles, valued for their resilience and capability to endure the rigours of heavy snowfall, making them a suitable option for these regions. Metal roofing and concrete tiles are favoured for their long-term durability and minimal maintenance requirements, offering a practical solution for the varied architectural needs of these regions.

Southern India is known for its hot and humid climate, with extensive coastal areas. Clay tiles are traditionally preferred in this region for their natural cooling properties and aesthetic appeal. However, there is growing interest in modern materials like lightweight metal roofing and cool roof technologies that reflect more sunlight.

Key Highlights of the Report

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India Roofing Market Report Snapshots

India Roofing Market Size

India Roofing Market Trends

India Roofing Companies

India Roofing Market Regional Analysis