Global Roofing Market Report and Forecast 2024-2032

Global Roofing Market Size

The global roofing market stood at a value of about USD 127.52 billion in 2023 backed by strong demand for roofing in the construction sector. The market is expected to further grow at a CAGR of 4.7% between 2024 and 2032 to reach a value of approximately USD 192.80 billion by 2032.

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Roofing is an integral component of a residential, commercial, or industrial structure, which can protect the safety of the occupants. According to the roofing market report, the market for roofing is likely to witness an accelerated expansion, owing to the increasing deployment of roofing systems across urban and rural areas to reduce the impact of excessive moisture, restrict water seepage during rainy seasons, and prevent damage caused by pathogens such as structural mildew, mould, and bacteria, among others. Increasing concerns pertaining to the health of children and geriatrics in the residential sector is expected to intensify the roofing industry outlook.

Roofing is the process of applying an external covering on the roof of a building. The external covering can either be self-supporting or be supported by structures underneath it. According to the roofing industry analysis, the market for roofing in the United States contributed to a significant proportion of the market. Due to rapid urbanisation, technological innovations and a rise in construction activities, the roofing industry market size in the United States is projected to grow at a healthy pace and is expected to drive the demand for roofing globally. The rapidly growing construction industry in emerging economies like China, India and the Middle East is further expanding the roofing market size. New innovations like green and eco-friendly roofing are also gaining popularity, especially in countries like the United States, the United Kingdom, and Japan. Rising investments in the residential construction sector along with eco-friendly roofing innovations will make the residential sector one of the major application sectors in the industry, thereby, propelling the residential roofing market in the coming years.

Properties and Applications

Roofing is the process of applying an external covering on the roof of a building. The external covering can either be self-supporting or be supported by structures underneath it.

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On the basis of type, the roofing market is divided into:

• Asphalt Shingles

• Metal

• Tiles

• Wood Shingles

• Green Roofs

• Others

Tiles are one of the most popular types of roofing which account for a healthy portion of the roofing market share. This can be attributed to the growing environmental concerns among consumers and developers. Clay and concrete tiles are especially favoured as they are durable and sustainable with a proven positive impact on the environment in the long run. They help in conserving energy by controlling the interior temperature by allowing air to circulate between the loosely arranged tiles leading to a decrease in the usage of air conditioning and conserving electricity. Stringent regulations of various governments aimed towards curbing the emission of greenhouse gases are the crucial roofing industry trends. Metal roofing, on the other hand is expected to propel the roofing market growth in the forecast period, with their low maintenance cost, durability and recyclability.

Based on applications, the roofing market is bifurcated into residential and commercial sector. As per the roofing market research, it is expected that roofing will find applications in the residential sector due to the rising number of proposed residential constructions.

The regional markets for roofing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Roofing Market Analysis

Rapid urbanisation and increasing standards of living in the emerging economies are the key roofing market trends fuelling the market growth. There has been a rising demand for new energy-efficient roofing products like green roofing which reduce electricity waste by decreasing air conditioning usage in the long run as well as improving the air quality and increasing the life span of the roof. These green roofs are especially in high demand in the developed nations of North America and Europe in green building constructions, which are the emerging trends in roofing industry. In addition to this, initiatives focussing on energy-efficient projects, such as renovating old buildings wherein old roofs are replaced by new ones, are also invigorating the roofing market growth. In well-established economies such as the United States, exceptional roofing services to cater to the demand of sporting stadiums and commercial construction projects, which is expected to expand the roofing market size, as well as US commercial roofing market size in the forecast period. Moreover, in the United States, the local demand for roofing to elude from weather disturbances, such as heavy rains, snow, and heat, is likely to contribute to the expansion of roofing market size US, leading to an augmented growth of North America roofing market. Meanwhile, the increasing roofing repair demands in Europe is anticipated to fuel the roofing market Europe in the coming years.

Construction of commercial buildings like multiplexes and shopping complexes due to changing lifestyles and increasing urbanisation in the developing countries of Asia Pacific, Latin America and Africa have aided the market growth. Asia Pacific is the leading market with growing construction activities in both the residential and commercial sectors, especially in countries like India, China, Indonesia and Vietnam. The Middle East is also a leading roofing market as the governments in the UAE and Qatar have increased their expenditure in commercial and industrial construction projects driving the growth of the roofing market.

Competitive Landscape of Roofing Market

The report gives a detailed analysis of the following key players in the global roofing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Carlisle Companies

• Owens Corning

• BMI Group

• Saint Gobain

• Wienerberger AG

• Beacon Roofing Supply, Inc.

• Duro-Last, Inc.

• Atlas Roofing Corporation

• Sika AG

• GAF Materials LLC

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

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