According to the latest report by IMARC Group, titled “Roofing Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global roofing materials market size reached US$ 129.7 Billion in 2022. Roofing materials are essential components used in the construction and covering of roofs to provide protection and insulation for buildings. These materials serve as a barrier against weather elements such as rain, snow, sunlight, wind, and extreme temperatures. There are various types of roofing materials available, each offering unique characteristics and benefits. The choice of roofing material depends on factors such as climate, building design, budget, durability requirements, and aesthetic preferences. Proper selection and installation of roofing materials are crucial for ensuring the structural integrity, energy efficiency, and longevity of a building. Some commonly used roofing materials include asphalt shingles, which are widely used due to their affordability, durability, and ease of installation.
Global Roofing Materials Market Trends:
The roofing material market is being driven by significant growth in the construction sector. As more buildings are being constructed or renovated, there is a rising demand for high-quality roofing materials to provide protection, insulation, and aesthetic appeal. Moreover, with growing awareness of climate change and the need to reduce carbon emissions, there is an increasing demand for eco-friendly roofing materials. Additionally, the incorporation of sustainable materials and recycling practices in the production of roofing materials appeals to environmentally conscious consumers and regulatory initiatives. Furthermore, ongoing innovations in manufacturing processes and techniques contribute to the development of lightweight and easy-to-install roofing materials, reducing labor costs and installation time, thus providing a boost to the market. Apart from this, changing consumer preferences and architectural trends are positively influencing the roofing material market. Looking forward, the market value is projected to reach US$ 168.4 Billion by 2028, expanding at a CAGR of 4.55% during 2023-2028.
- Based on the product, the market has been segmented into asphalt shingles, concrete and clay tiles, metal roofs, plastics, and others.
- On the basis of the construction type, the market has been divided into new construction and reroofing.
- Based on the application, the market has been bifurcated into residential and non-residential.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Atlas Roofing Corporation (Hood Companies Inc.), Boral Roofing LLC (Boral Industries Inc.), Carlisle Companies Inc., CertainTeed Corporation, Crown Building Products LLC, CSR Limited, Eagle Roofing, Etex, GAF (Standard Industries Inc.), Johns Manville (Berkshire Hathaway Inc.), North American Roofing Services Inc, Owens Corning, TAMKO Building Products LLC and Wienerberger AG.
|Base Year of the Analysis
||Product, Construction Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Atlas Roofing Corporation (Hood Companies Inc.), Boral Roofing LLC (Boral Industries Inc.), Carlisle Companies Inc., CertainTeed Corporation, Crown Building Products LLC, CSR Limited, Eagle Roofing, Etex, GAF (Standard Industries Inc.), Johns Manville (Berkshire Hathaway Inc.), North American Roofing Services Inc, Owens Corning, TAMKO Building Products LLC and Wienerberger AG
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