Roofing Materials Market Size, Growth, Trends | Report 2022-2030
The global roofing materials market size was estimated at around USD 120.4 billion in 2021 and it is projected to hit around USD 171.5 billion by 2030, growing at a CAGR of 4.01% from 2022 to 2030.
Increasing investments in the renovation and redevelopment of residential and non-residential buildings are expected to drive the market growth.
Renovating and remodeling are significant factors for the long-term maintenance of properties. Hence, the preference for roof replacements is expected to continue over the forecast period as homeowners are preferring renovating existing buildings instead of new homes.
The COVID-19 pandemic resulted in significant changes in the global construction industry. Delay in new construction activities and intensification of labor shortages, along with an inadequate supply of raw materials have been some effects of the pandemic which had created adverse impact on the market growth.
The initiatives undertaken by governments of various countries for the development of green buildings have also prompted consumers to carry out roof replacements. The demand for roof installations of solar panels surged in 2021 and is expected to continue increasing over the forecast period.
A number of substitutes such as living roofs, solar roofs, green roofs, restoration coatings, and SPF roofs are available in the market, which deliver better performance than common roofing materials. However, factors such as high maintenance and installation costs of substitutes have restricted their demand.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 120.4 billion |
| Revenue Forecast by 2030 | USD 171.5 billion |
| Growth rate from 2022 to 2030 | CAGR of 4.01% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered | GAF Materials Corporation; Atlas Roofing Corporation; Owens Corning; TAMKO Building Products, Inc.; CSR Ltd.; Carlisle Companies Inc.; Crown Building Products LLC; Metal Sales Manufacturing Corporation; Wienerberger AG; Etex; CertainTeed Corporation; Johns Manville; Fletcher Building Limited; Eagle Roofing Products; Boral Roofing |
Product Insights
Concrete and clay tiles product segment led the market and accounted for more than 29% share of the global revenue in 2021. These tiles offer benefits such as improved aesthetics, durability, and ease of recycling, hence drive the product demand. However, growing consumer preference for stone-coated steel roofing is projected to impede product demand.
Asphalt shingles segment is projected to register a CAGR of 4.1% in terms of value over the forecast period.Low capital costs and an easy installation process are anticipated to drive the demand for asphalt shingles as roofing materials over the forecast period.
In 2021, the metal roof segment held a share of 22.4% of the overall market in terms of revenue. Metal roofs are versatile and can be converted into any desired shape such as shingles or slates to fit the surface structures of different types of buildings. Moreover, the low lifecycle costs, less weight, and fire resistance of metal roofs are expected to drive their global demand over the forecast period.
The plastic roof segment is anticipated to grow at a CAGR of 2.6% over the forecast period owing to advantages such as ease of installation, and low maintenance. However, plastic roofs offer lower aesthetic appeal than their counterparts. Furthermore, the product is particularly vulnerable to UV radiation degradation, thereby restricting its application.
Application Insights
Residential application segment led the market and accounted for more than 55% of the global revenue share in 2021.Factors such as the increasing global population and rising preference of consumers for single-family housing structures are anticipated to fuel the growth of residential segment of roofing materials market during the forecast period.
Asphalt shingles are used in residential applications by the homeowners as it offers ease in installation and requires less maintenance as compared to metal and concrete. These are available in wide array of colors and textures which can offer wood, cedar or slate like appearance and improves aesthetic value of roofing structures.
Evolving business models, new startups, and increased need for office spaces are expected to drive the global demand for non-residential buildings. Furthermore, rising expenditures in the construction of data centers by major technological companies like as Microsoft, Google, and Amazon are expected to boost demand for roofing materials used in non-residential structures.
Rising investments for the renovation and replacement of roofs of commercial buildings, such as hospitals, educational institutions, sports facilities, government offices, and recreational buildings are anticipated to fuel the penetration of roofing materials in various non-residential applications.
Regional Insights
Asia Pacific region led the market and accounted for over 32% share of global revenue in 2021. The expansion of residential, commercial, and industrial sectors due to the sustainable economic growth of countries in region is expected to fuel construction activities, thereby driving the demand for roofing materials.
Increased tourism, retail trade, and business turnover in the member states of the European Union are projected to fuel the construction of commercial buildings.Moreover, increasing efforts to convert old energy-consuming buildings into energy-efficient and sustainable structures is anticipated to fuel the demand for roofing materials over the forecast period.
The construction industry in South America mostly remained resilient even after the economic slump caused due to the pandemic. Factors such as uncertainty with respect to the economic policy and reforms in Brazil, and recent social unrest in various countries such as Colombia, Chile, Bolivia, and Ecuador are expected to have a negative impact on the region’s economic growth.
According to Flitch Rating and IMF, robust government spending in GCC countries is expected to boost expenditure on construction of hospitals, leisure projects, and schools, which, in turn, is expected to propel the growth of construction industry, thereby driving the product demand in the region.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Roofing Materials Market
5.1. COVID-19 Landscape: Roofing Materials Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Roofing Materials Market, By Product
8.1. Roofing Materials Market, by Product, 2022-2030
8.1.1. Asphalt Shingles
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Concrete & Clay Tile Roofs
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Metal Roofs
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Plastic Roofs
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Roofing Materials Market, By Application
9.1. Roofing Materials Market, by February, 2022-2030
9.1.1. Residential
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Non-residential
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Roofing Materials Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by February (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by February (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by February (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by February (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by February (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by February (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by February (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by February (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by February (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by February (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by February (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by February (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by February (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by February (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by February (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by February (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by February (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by February (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by February (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by February (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by February (2017-2030)
Chapter 11. Company Profiles
11.1. GAF Materials Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Atlas Roofing Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Owens Corning
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. TAMKO Building Products, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. CSR Ltd.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Carlisle Companies Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Crown Building Products LLC
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Metal Sales Manufacturing Corporation
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Wienerberger AG
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Etex
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers