Philippines Roofing Market Report and Forecast 2024-2032

Philippines Roofing Market Size

The Philippines roofing market reached nearly USD 224.17 million in 2023. The market is projected to grow at a CAGR of 6.1% between 2024 and 2032 to attain around USD 381.95 million by 2032.

Philippines Roofing Market Outlook

• Green roofs enable residential spaces to harvest 80% of the rainwater for domestic consumption.

• A green roof spread over an area of one metre square can reduce 5 kg of carbon emissions.

• The Philippines’ economy registered a growth of 5.6% during 2023, which led to a surge in demand for residential housing.

Philippines Roofing Market Growth

In Q1 2024, the construction of residential spaces in the Philippines reached a value of PhP 773.2 million, which constituted over 52% of the overall value of all new construction projects. The rising need for energy-efficient housing has led to a surge in demand for green roofing systems in the Philippines, where repair and alteration projects worth PhP 16.3 million were completed in Q1 2024.

The World Intellectual Property Organisation ranked the Philippines at the 51 position out of 132 countries in the Global Innovation Index. Over the forecast period, 3D printers are expected to become increasingly commonplace for printing roofs for buildings, due to a six-fold reduction in their cost (now just over PhP 2.5 million) from the last decade.

Though traditional asphalt shingles are an attractive and cost-effective solution for establishing any roofing system, they are extremely vulnerable to the impacts of mildew, weather, and other external environmental agents. This has led to the development of thermoplastic-based self-cleaning shingles, which self-heal their scratches by forming new bonds with different polymers upon cooling. Moreover, new waterproof coating technologies have contributed to the durability of roofing systems by preventing the buildup of mildew and moisture damage. This is expected to contribute to the market growth in the coming years.

Cool roofs, which are created from metals and light-coloured shingles, have a high rate of solar reflectance and provide efficient indoor cooling, which lowers electricity consumption. They can also be manufactured through the addition of solar reflective coatings.

Smart roofs integrated with advanced IoT sensors to check dangerous snow loads, leaks, blocked roof drains, and other hazardous issues are expected to enhance the occupational safety of buildings.

Philippines Roofing Industry Segmentation

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

Market Breakup by Type

• Asphalt Shingles

• Metal

• Tiles

• Wood Shingles

• Green Roofs

• Others

Market Breakup by Application

• Residential

• Commercial

Philippines Roofing Market Share

Based on end use, the market is segmented into residential and commercial. Over the forecast period, the residential sector is expected to grow at a CAGR of 7.0% during 2024-2032 as rapid population growth expedites the construction of housing buildings.

Leading Companies in the Philippines Roofing Market

Major construction companies are engaged in developing robotic shingle installers to enhance the overall safety, accuracy, and efficiency of roofing systems in the Philippines. Autonomous roofing drones that utilise nail guns to install shingles are expected to become increasingly popular over the forecast period.

• DN Group of Companies

• Puyat Steel Corporation

• Philmetal Products, Inc.

• Union Galvasteel Corporation

• Metalink Manufacturing Corp.

• Colorsteel Systems Corporation

• Others

Key Highlights of the Report

Philippines Roofing Market Report Snapshots

Philippines Roofing Market Size

Philippines Roofing Market Growth

Philippines Roofing Market Share

Philippines Roofing Companies