The Global Roofing Materials Market Size Was Valued At USD 86.56 Billion In 2021. The Market Is Projected To Grow From USD 88.85 Billion In 2022 To USD 112.47 Billion By 2030, Exhibiting A CAGR Of 3.4% During The Forecast Period.

Roofing Materials Market Overview:

The COVID-19 pandemic has had an unprecedented and shattering impact on the world, and demand for roofing materials and solutions has been lower than expected in all regions compared to pre-pandemic levels. Our investigation revealed that the global market had a decrease of 29.5% in 2020 compared to 2019.

Roofing materials are used to create or repair the topmost layers of a building's roof. A house's roof, which provides protection from the elements and the effects of the weather, is an essential component of construction. The thickness of a roof's outer layer varies depending on the material at hand and how intricate the supporting system is. Roofing materials range from naturally occurring items like slates and thatches to manufactured items like bituminous tiles, plastic roofs, and others. The expansion of the roofing materials market will be fueled by increasing investments in the construction and remodeling of commercial and residential buildings.

Market Dynamics:

Latest Trends:

Bituminous roofing demand growth will be boosted by rising consumer demand.

One of the most popular and reasonably priced roofing materials is bituminous. Shingles and plates are frequently utilised in bituminous. Bituminous shingles are not only a more affordable option for roofing, but they also offer superior security. It is simple to select a decision to go with the architecture of the building and enhance its beauty because they are readily available in a wide variety of colours and designs. The asphalt-coated bituminous shingles are then treated with coloured mineral granules to further shield them from the elements. A bituminous shingle roof, which is available in various thicknesses or grades, will typically last between 25 and 30 years, depending on the local climate and how well it is maintained. Almost any environmental situation may be easily adapted to, and bituminous is a strong building material that can survive even the toughest weather conditions without easily succumbing to wear and strain. Bituminous shingles may endure powerful winds.

In spite of this, there are various wind resistance ratings, ranging from the lowest (Class D) to the greatest (Class H). With correct installation and support from fasteners and bonds, bituminous shingles can achieve the Class H grade, which withstands winds of up to 150 mph. Bituminous shingles reflect solar heat rather than absorbing it. As a result, without a heating and cooling system, the building will be substantially cooler. Bituminous shingles also resist environmental factors. They are suitable for bad weather, such as hailstorms, due to their effect resistance level of 1-4. Bituminous shingles continue to have a class A fire rating, minimizing accidents in the event of a catastrophe.

Driving Factors:

Excellent Metal Roofing Fire Resistant Property to Fuel Industry Growth

The market for metal roofing is anticipated to grow quickly as wildfires become more common. Many people have employed metal roofing, which is a great option for fire resistance, to comply with contemporary fire rules and demonstrate their structures through fire. It is offered in two forms, panels and shingles, and is made of copper, aluminium, stainless steel, and zinc. Aluminum and galvanised steel are the most prevalent and economically advantageous metals among them.

A strong material that lasts a lot longer than other materials is metal roofing. In the summer, it keeps the structure cooler by absorbing the sun's ultraviolet radiation. Additionally, the building's additional insulation from the metal roofing helps to maintain stable temperatures throughout the year. This is true for both the winter and summer. Sales of metal roofing are increasing in both commercial and residential remodelling projects. Metal roofing is one of the strongest options available in the roofing sector, according to seasoned building architects and property owners. Compared to bituminous shingles or tiles, metal roofing is lighter. Due to its strength, longevity, flame resistance, and low maintenance requirements, it is not as stressful on a building's structure as other roofing materials are.

Growing Construction Sector Will Drive Market Share for Roofing Materials

The largest consumer of raw materials worldwide is the construction industry. The market value of the sector is anticipated to increase at a rate of 4.2% each year due to increases in infrastructure, non-residential, and residential construction. Because of the residential, non-residential, and civil engineering sectors, the construction market in Europe is expanding.

The widespread closures intended to stop the spread of COVID-19 are likely to have an impact on the building industry. Even projects that can be approved for development will suffer indirect consequences. Many of the nations facing COVID-19, many of which have closed manufacturing to limit the pandemic, import a lot of building supplies.

In addition to offering safety, the roof also contributes to the building's aesthetic appeal. A roof structure is made up of many materials joined together to offer weatherproof protection for structures. Roofs not only keep buildings dry but also shield them from the sun, heat, snow, and other environmental factors. Depending on the shape, location, environment, and whether they are being used for commercial or residential purposes, several roofing materials are appropriate. Bituminous shingles are widely used because they are affordable and have a long lifespan for residential use. In commercial building, where flat roofs are more typical, metal, EPDM, and built-up roofs are often employed. As a result, the market's demand is being driven by the expanding construction sector. However, COVID-19's spread has slowed down the building industry, which is anticipated to slow market expansion.

Restraining Factors:

Increased cost of roofing materials will impede market expansion

Resurfacing old, worn-out roofs requires a significant expenditure of time, electricity, and cash. The quality of the product may be impacted by the climate. For instance, some of the materials are quickly destroyed by extended freeze-thaw cycles but can tolerate high temperatures and ultraviolet rays from sunlight. Bituminous shingles might get weakened if constructed under subfreezing conditions. They are less durable than other materials, making them more susceptible to wind lifting and more brittle in different temperatures. Metal roofing often has a higher initial cost than other types of roofing.

Despite being extremely resilient, slate, concrete, and clay tiles can be damaged by severe forces like walking pressure or falling tree branches. When needed, repairs might be expensive. The maintenance requirements and longevity of roofing materials should be considered. Maintenance is high for untreated wood shakes and shingles, for example. When making roofing materials, the use of electricity, natural resources, and the toxicity of any emissions created should all be taken into account. These materials are manufactured from rare or environmentally delicate materials.

Segmentation Analysis:

By Material Analysis:

The market is divided into sections according on material: bituminous, tile, metal, elastomeric, and others.

The bituminous category had a sizable portion of the market and is probably going to continue to rule during the projection period. Due to their low cost and ease of installation, bituminous shingles are the most popular residential roofing material. Without changing the shingle's look, such shingles can be strengthened with fibreglass or synthetic materials.

A building is given texture and aesthetic appeal by tiles composed of clay and concrete. It is recommended to mount flat, ribbed clay tiles because of their extreme durability and weight. Concrete tiles weigh a lot yet are flexible and less expensive than actual clay.

During the projection period, the metal roof segment is anticipated to experience rapid growth. Weather extremes have little effect on metal roofing. Aluminum, copper, stainless steel, and zinc are the four materials that make up metal roofs. They come in two forms: panels and shingles. A properly installed metal roof can shed snow easily, keep out severe winds, seal off the water, and endure as long as the building.

By End-use Industry Analysis:

The market is divided into residential, non-residential, and industrial end-use industries.

The residential sector currently controls a significant portion of the worldwide market and is anticipated to grow quickly over the coming years. The increase in institutional and legislative support for developing housing infrastructure in emerging nations is blamed for the sector. The need for residential roofing is increasing as a result of the growing population and desire for single-family homes. The overall demand for residential constructions is also significantly influenced by the availability of finance and low interest rates.

The non-residential construction industry is expected to benefit from investments made to create and renovate social infrastructures like hospitals, schools, office buildings, and correctional institutions.

Regional Insights:

In 2021, the market share for roofing materials in Asia-Pacific was estimated to be worth 32.03 billion USD. The increase in the construction industry, including new construction and rehabilitation operations, is driving up product demand in Asia Pacific. The expansion of industrial operations, particularly in China and India, as well as rising disposable incomes and population growth have raised demand for construction and building activities, which has boosted industry growth in the area. The largest sector of the building market in India is residential construction. By 2022, the Indian government hopes to build 20 million affordable homes, which will have a big impact on the local market.

The expansion of re-roofing projects for commercial, industrial, and residential projects in the United States is to blame for the rise of the North American market. Growth in the market will be fueled by an increase in residential and commercial building in the US and Canada, as well as infrastructure investment by the government on new projects. Due to labour shortages and the government closing several industrial facilities during the COVID-19 pandemic, the construction supply chain suffered, which led to a slump in the U.S. construction industry.

The rapid expansion of the residential building industry in Kenya, Nigeria, Egypt, and Ethiopia is a major driver of the demand for roofing materials throughout the Middle East and Africa. In addition, there is a lot of demand for the market because to the ongoing development boom in Qatar, Saudi Arabia, and the United Arab Emirates.

In order to alleviate the severe housing crisis, the government of the United Kingdom has set a goal of building around 300,000 residential dwellings yearly over the following three years. Thus, it is anticipated that rising housing development activity will fuel demand for the European market.

Scope Analysis

Recent Development:

• February 2022 - Johns Manville, a Berkshire Hathaway company, has announced two new products for bituminous roofing systems that help improve productivity on the roof.
• February 2022 - Carlisle Companies Incorporated acquires MBTechnology, Inc. (MBT). The acquisition will expand CWT's modified bituminous roofing products and provide additional capacity for roofing underlayments.
• January 2021 - ProVia launches a line of metal roofing products that combine the luxury and beauty of slate or cedar shakes with the durability and longevity of galvanized, highly engineered steel roofing systems.

Market Segmentation

By Material:

• Bituminous
• Tile
• Metal
• Elastomeric
• Others

By End-use Industry:

• Residential
• Non-residential
• Industrial
• Others

By Companies:

• Owens Corning (U.S.)
• CertainTeed Corporation (U.S.)
• Atlas Roofing Corporation (U.S.)
• BMI Group (U.K.)
• Johns Manville (U.S.)
• IKO Industries Ltd. (U.S.)
• GAF (U.S.)
• TAMKO Building Products, Inc. (U.S.)
• Carlisle Companies Incorporated (U.S.)
• Firestone Building Products Company, LLC (U.S.)
• Others