Global Roofing Materials Market growing at a CAGR of 3.9% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Aug 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the global roofing materials market is growing with a CAGR of 3.9% and is expected to reach USD 145.23 million in 2030 from USD 107.15 million in 2022.
The report highlights the increasing demand for roofing materials owing to the increasing spending on renovation of commercial and residential construction. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the roofing materials market.
Global Roofing Materials Market By Overview
The roofing materials market is divided into by type, by construction type, and by end-user. Based on type, the market is segmented into asphalt shingles, metal roofing, solar roof tiles, stone-coated steel, concrete & clay tile roofs, slate, and others. In 2022, the asphalt shingles segment accounted for the highest market share in the roofing materials market. On the basis of construction type, the market is categorized into new roofing and reroofing. In 2022, the reroofing segment accounted for the highest market share in the overall roofing materials market. On the basis of end-user, the market is categorized into residential, commercial, and industrial. In 2022, the residential segment accounted for the highest market share in the overall roofing materials market.
Get Free SampleMarket Dynamics
Driver:
- Rising spending in the renovation of commercial as well as residential construction are key factors that drive the market growth.
- Technological development in roofing technology drives the growth of the market.
Restraints:
- The increasing price of construction materials is the key factor restraining the growth of this industry.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Asphalt Shingles, Metal Roofing, Solar Roof Tiles, Stone-coated steel, Concrete & Clay Tile Roofs, Slate, and Others |
| By Construction Type | New Roofing and Reroofing |
| By End-User | Residential, Commercial, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as GAF Materials Corporation, IKO Industries Ltd., and Owens Corning among others have a strong market position in current market circumstances. Further, the roofing materials market is expected to witness significant growth in the coming years due rise in construction activity globally. The market players compete for a firm market position through mergers and acquisitions, construction innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of construction creation to cater to the growing needs of various applications.
- GAF Materials Corporation
- Atlas Roofing Corporation
- Owens Corning
- TAMKO Building Products, Inc.
- Carlisle Companies Inc.
- Metal Sales Manufacturing Corporation
- Wienerberger AG
- CertainTeed Corporation
- Boral Roofing
- IKO Industries Ltd.
