Global Roofing Market to Reach $116.4 Billion by 2030: Asphalt Shingles and Metal Roofing Dominate Growth

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Oct 12, 2023, 20:15 ET

DUBLIN, Oct. 12, 2023 /PRNewswire/ -- The "Roofing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global roofing market, valued at $78 billion in 2022, is projected to grow to $116.4 billion by 2030, at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.

The market analysis highlights key segments, including asphalt shingles and metal roofing, which are expected to experience substantial growth.

Market Trends and Opportunities

Asphalt Shingles Growth: The asphalt shingles segment is projected to record a 4.9% CAGR, reaching $35.8 billion by the end of the analysis period. Asphalt shingles are a popular roofing choice due to their cost-effectiveness and durability.
Metal Roofing Expansion: The metal roofing segment is estimated to grow at a CAGR of 6.1% over the next eight years. Metal roofing offers long-term performance and is increasingly chosen for its sustainability and energy efficiency.

Regional Insights

U.S. Market: The roofing market in the U.S. is estimated at $18 billion in 2022.
China's Growth: China, the world's second-largest economy, is forecast to reach a market size of $26 billion by 2030, with a CAGR of 6.6% during 2022-2030.
Other Noteworthy Markets: Japan and Canada are expected to grow at 3.6% and 4.3%, respectively, over the 2022-2030 period. Germany, within Europe, is forecast to grow at approximately 4.3% CAGR.

Key Competitors

The roofing market features 128 featured competitors. Some of the key players include:

Carlisle Companies, Inc.
Atlas Roofing Corporation
American Hydrotech, Inc.
Axter Ltd.
ARTWOOD SRL
Alton Industrial Pty Limited
Arkistruct Pty Ltd
Blachotrapez
Architectural Panels Pty Ltd
Asc Profiles, Inc.
Bilka Steel SRL
Alliance Design and Development Group, Inc.
Agway Metals Inc.
Boato International S.P.A. Con Socio Unico
Aluform System GmbH & Company KG

Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected in the near term. While various challenges persist, including geopolitical uncertainties and inflation concerns, countries and governments are adapting to weather these challenges.

New technologies such as AI, machine learning, renewables, and quantum technologies are expected to drive incremental growth and value to the global GDP in the coming years. The short-term economic landscape presents a mix of challenges and opportunities for both consumers and investors, with resilient and adaptable businesses poised to seize opportunities.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
An Introduction to Roofing
Types of Roofing Products
Asphalt Shingles
Metal Roofing
Elastomeric Roofing
Built-up Roofs
Roofing Tiles
Modified Bitumen
Plastic Roofing
Other Types of Roofing
Wood
Slate Roofs
Cold-Applied Roofing and Waterproofing Systems
Liquid-Applied Monolithic Membrane Systems
Single Ply Roofing
Felts
Polyurethane Roofing Systems
Roofing Materials: Improving Strength, Durability and Energy Efficiency of Residential and Non-Residential Buildings
Residential Sector Fuels Demand for Roofing Products
Roofing Materials Market by Application (in %) for 2019
Asphalt Shingles Remain the Most Popular Roofing Material, Metal Roofs Find Acceptance
Asian Economies Spearhead Growth in the Global Roofing Market
COVID-19 Impacts Construction Industry, Affecting Prospects in Roofing Market
Supply Chain Disruptions
Companies to Gear up to Face the Crisis
World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
Global Construction Output % Change in Advanced and Emerging Economies for the Years 2019, 2021, 2023 and 2025
Building Renovations & Reroofing: Key Revenue Contributors in Developed Markets
Global Residential Re-Roofing Market Share Breakup (in %) by Type: 2019
US Reroofing Market: Breakdown of Major Reasons for Reroofing (in %) for 2019
Investments in Infrastructure Projects Support Market Demand
Projected Infrastructure Investment Needed (in US$ Trillion) by Region Over the Period 2016-2040
Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
Roofing - Global Key Competitors Percentage Market Share in 2022 (E)
Recent Market Activity
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Perennial Need for Roofing in Buildings Drives Healthy Demand for Roofing Materials
Major Roofing Technology Trends Summarized
Dark and Reflective Surfaces
Fireproof Roofing
Green Roofing
Insulated Roofing
Cool Roofing
Building-Integrated Photovoltaics (BIPV)
Solar Roofing
Living Roof
Metal Roofing
Roofing Colors
Roofing Tiles
Slate Roof
TPO Single-Ply Roofing Membranes
Elastomeric and Plastic Roofing
Flat Roofs
Membranes-based Flat Roofing
Seamless Gutter
Rising Significance of Environment-Friendly and Technologically-Advanced Roofing Solutions: The Fundamental Growth Driver
Sustainable Roofing Solutions Gain Popularity
Concerns over Increasing Heat and Smog in Urban Centers Necessitate Advanced Roofing Solutions
A Glance at Select Environment-Friendly Options for Roofing Materials
Surge in Energy Consumption and the Resultant Need for Energy Efficient Roofing Drives Demand for Insulated Roofs
Projected Global Energy Consumption in Quad Btu: 2015, 2020, 2025, 2030, 2035, 2040, 2045 and 2050
Projected Global Demand for Electricity (MWh) for the Years 2015, 2020, 2025, 2030 & 2035
US Energy Consumption by Sector (in Trillion Btu) for the Period 2015-2019
Climate Change and Increasing Global Temperatures Fuel Demand for Roof Insulation
Growing Need to Achieve Sustainability and Cost Savings Propels Demand for Green Building Materials
Green Roofing Technologies Offer Huge Untapped Market Potential
Solar Ready Roofs
Energy-Efficient Asphalt Shingles
Reflective Roof Coatings
Lighter Roofing Shades Find Favor
Despite Competition from Alternative Roofing Materials, Asphalt Shingles Continue to Maintain the Lead
Innovations in Asphalt Roofing Support Segment Growth
Hybrid Asphalt Roof Systems Find Widespread Application
Shingle Recycling Gathers Momentum
Newer Roofing Alternatives Emerge as Replacements for Conventional Materials
Recyclability, Sound-Proof and Durability Attributes Drive Widespread Adoption of Rubber Roofing
Recycled Rubber Roofing Shingles Emerge as Eco-Friendly and Cost Effective Options
Select Rubber Roofing Systems for Commercial and Residential Buildings
Rubber Roofing Shingles Make the Process of Roof Repair Easier
Rubber Roofing Types for Various Buildings
Longer Life, Fireproof, and Multiple Other Benefits Support Demand for Metal Roofing
Production Process of Metal Roofs
Training and Field Supervision Gain Importance
Roofing Tiles Market: Residential Construction Activity Determines Growth Trends
Concrete: A Timeless Roofing Material
Built-Up Roofing Systems Face Various Operational, Technological, and Economic Hurdles
Myriad Benefits Drive Demand for Fiberglass Roofing Solutions
Cold Applied Roofing System: An Ideal Option in High-Rise Buildings
Cold-Liquid-Applied Membranes: The Next Generation Roof Waterproofing Technology
Demographic and Economic Trends Influence Roofing Demand Dynamics
Urbanization Trend
World Urban Population in Thousands: 1950-2050P
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
Ballooning Global Population
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
Burgeoning Middle Class Population
Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
Innovations & Technology Advancements Transform Roofing Landscape
Advancements in Shingles Drive Considerable Improvements in Efficiency, Aesthetics and Ease of Installation
Recent Innovations in Asphalt Roofing Systems
Cool Roof Asphalt Shingles
Enhanced Polymer-Modified Asphalt Shingles
Smog Absorbing Shingles
Rooftop Shingles to Tap the Sun's Power
Weathering Steel: A Key Innovation in Steel Roofing Market
Screwless Metal Roofing Systems
Lightweight Installation Approach for Slate Roofs
SURE-STICKT: A Self-Adhered Roofing Membrane
Integrating PVC Roof Membranes with Solar Panels for Flat Roofs
Advanced Solar Solutions for Roofing Applications
Roof-Integrated Solar Systems
Select Rooftop Solar Technologies
BIPV for Rooftops
BIPV Vs BAPV
Novel Techniques for Roof Repairs
Tensile Fabrics Find Acceptance in Roofing Market
Nonwovens Assume an Increasingly Important Role
Wood Replacements
Futuristic Roofing Materials Technologies
Roofing and the Internet of Things (IoT) Technology
Drones: The Next Big Thing for the Roofing Industry
How Drones Work
Time-saving Technology
Drones: A Safer Solution?
Comprehensive Reporting with Diagrams
Expanding Applications of Drone Technology
Roofing Software Solutions Continue to Evolve
Roofing Companies Use Advanced Technologies for Safety
Stringent Standards and Regulatory Compliance: Major Challenges for Roofing Industry
Other Challenges Hampering Market Prospects for Roofing Materials
Fixing the Asbestos Asphyxiation: Nations Ought to Wake Up to the Alarming Problem

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/jku1m7

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