Roofing Market Synopsis

Roofing Market Size Was Valued at USD 82.2 Billion in 2023 and is Projected to Reach USD 133.09 Billion by 2032, Growing at a CAGR of 5.50% From 2024-2032.

Roofing can therefore be defined as the process of putting up of an overhead shelter on top of the outer shell of a structure which is usually in the form of tiles, shingles, metal sheets or Membranes. Roofing acts mainly to protect people and their property from inconiences caused by rain, snow, sunlight or wind. Besides the facet of protection, roofs also play an aspect in the beautification of the building and its efficiency in energy usage. Roofing system installations and regular maintenance remain critical in the overall durability of the roofing systems due to the fact that they are central to protecting the building and the inhabitants from various natural forces.

• Roofing is a specialized subsector in construction, which involves all products that require performing a sheltering function and which withstand climatic conditions to act as a roof to structures. These factors include economic factors, technological trends, environmental issues, and evolving customers’ needs.
• The roofing market is considerable and varied, being based on reprocessed materials such as asphalt shingles, metal roofing, tiles, slate, and also products of synthetic origin. All have their benefits for use in building and construction in that the strength, beauty, and cost depends on the type of material to be used depending on the part of the world or culture and design preferred. For instance, in North America asphalt shingle enjoys the highest market penetration due to its low cost and affordable installation process as compared to other regional competitor such as metal roof that is enjoying an ever-rising global market trend because of its long life cycle and sustainability.
• This paper identifies several factors that affect the roofing market in the world. Economic conditions have an important part to play as their impact is reflected in the level of construction and overall residential consumers’ readiness to install a new roof or embark on roof upgrades. In the developed economy countries, where urbanization development of infrastructure is gradually a going concern, there will always be demand for new installments mainly roofs. Whereas in the emerging economies the increase in population’s urbanization level along with growth in disposable income is providing neces&stry;ary push for upgrading to superior &better quality Roofing products.
• Technological advancement is also contributing to the market’s growth within the blockchain space. Technological advances in Roofing are mainly aimed at improving the life cycle of roofs, efficiency in the use of energy and implementing green technologies. For instance, there is what is known as the photovoltaic allied solar roofing where the PV cells are incorporated onto the conventional roofing materials, which are popular with the sustaining growth of the renewable energy segment.
• In addition to that, there is something called environmental regulations, which is also pertinent to the roofing market. Regulations and standard-specific codes regarding the construction of new buildings direct energy-efficient requirement like a cool roof or Green as roofing solution. These regulations are rather differentiated by the regions but as a whole they have their impact on the current product development and on the further dynamics of markets.
• Thus the opportunities that the roofing market has for growth is affected by the following challenges. Raw material involve in varies in its price over a short period of time which affect costs of production and price of products such as asphalt and metals. Furthermore, availability of labour and skilled workforce in the construction domain can be a problem due to which the time frame of a building construction project prolongs and the expenditure on labour rises, thus impacting the basic structure of the market.
• Furthermore, issues of where to dispose with roofing materials once they have served their term affect the environment thus forcing manufacturers to look for recyclable and sustainable products to use. The transformation is not only inspired more by the provisions of the legislation, but also due to the increase in the popularity of ‘green’ products.
• The changes taking in the roofing market mirror the general tendencies existing in the society and regarding the new technologies. The long-term value and the attractiveness associated with roofing products that have a long lifespan and require little or no maintenance are fast becoming the trends. Architecture styles enhance the use of roofing as a construction component making it an objective influencing the selection of material and colors.
• In addition, marketing and sales strategies have also shifted mainly because of the increased use of digital technology and online platforms in the industry. Automotive manufacturers have reported growing use of digital tools in creating product visualization, digital consultations, and project management tools as ways to improve the customer experience and access to products.
• As the future prospect of the roofing market, several factors will likely change due to technology advancement, regulatory environment and of course, customer demands. In this we agree that probabilities are that better sustainable roofing products solutions will feature more broadly in the building system so far as environment matters are concerned.
• In addition, there will be improvements in the recourses of material and manufacturing technologies that would advance the efficiency in the creation of light, robust, and energy conserving roofing systems. The addition of smart systems of roof health and energy management could civilize the industry even more, providing such features as increased functionality and diagnostics.
• Thus, in the overall context, the roofing market can be described as an active segment of the construction industry that undergoes constant changes due to economic, technological, and environmental driving forces. Housing and infrastructure needs around the world will drive future demand for exoskeletons, as the market expands and develops further over the coming years.

Roofing Market Trend Analysis

Sustainability and Eco-Friendly Materials

• The current roofing market is changing progressively to sustainability and environmentally friendly materials due to enhanced awareness of environmental impacts and standards that are being set to curb carbon emissions. Apparently all consumers including corporate entities are rather choosing roofing materials that will not only be durable but also efficient when it comes to energy consumption with a bonus of being sustainably sourced. Except for asphalt shingles and metal roofing, other materials that has great market appeal today include recycled metal, clay tiles, slate, reclaimed wood shingles, among others since such materials are eco-friendly as are harvested from the natural resources and are long-lasting besides incorporating low lifecycle costs.
• Further, new technologies in installation of solar roof designs are embracing electricity production from renewable resources as an integrated body of the roofing system to increase roof sustainability. Increased government support for building owners and developers towards use of green building practices and certifications such as the LEED are also a market driving factor towards the use of eco-friendly roofing solutions. In response to continued push for green building systems, manufacturers are developing products and innovations that produce better and more extensive variety of green roofing services, giving a stable market chance for further green roofing solutions in the next few years.

Integration of Smart Technologies

• The actions in the roofing market towards the incorporation of smart technologies is a strategic transition to more effective, environmental preservation and customer-oriented products. These technologies categories include; real-time monitoring of roof conditions such as temperature, moisture and structural condition of the roof; which are critical for safety, efficiency and spans roof’s life span.
• Furthermore, smart roofing also uses new and perhaps more intelligent materials that control heat gains or losses and therefore generally lead to cheaper heating and cooling costs for structures. The use of these technologies depends on improving the recognition of the effects on the environment and on energy efficiency standards, the necessities need to design and construct new buildings which can control and adjust to changes in environmental conditions that improve the optimal functioning of the building. Additionally, the data that can be gathered from smart roofs can be used for forecasting when to repair them to ensure that this is done when it does not affect business much. However, as construction industry gradually reveals the potential of digitally applied innovations and IoT, smart roofing offers the market great opportunities for new development and orientation to sustainability in architecture solutions.

Roofing Market Segment Analysis:

Roofing Market Segmented based on Roofing Material, Roofing Type and Application.

By Roofing Material, Bituminous Roofing segment is expected to dominate the market during the forecast period

• The roofing market can be segmented on the basis of various materials the most typical ones being the bituminous roofing, metal roofing, tiled roofing and the others like RCC and plastics. Bituminous roofing has been the most common roofing type in the residential and commercial buildings since it is cheaper and durable especially because of its ability to resist all weathers for instance, rain, snow and cases of hailstorm. Metal roofing which is preferred due to outstanding durability and renewable nature is still increasing, particularly in areas with extreme climate. Climb to tile roofing is decided due to the elegant appearance and high fire and insects resistance, in addition, such roofing is considered to be fire and insect resistant.
•  The category of other materials such as RCC has desirable features of strength and insulation which are ideal for a host of buildings. It has become widespread to use plastics because of their light weight and suitability in fulfill (some) trends in modern architecture and environment. The market segmentation of roofing materials is done based on the preferences, nature of projects, customers, and the conditions in construction and other renovation projects across the world.

By Roofing Type, Slope Roof segment held the largest share in 2023

• The roofing market is segmented primarily into two types based on roofing type: Apex roofs, gable roofs, mansard roofs, shed roofs, flat roofs and slope roofs. They all make construction and renovation easier through meeting the different needs and preferences that are usually unique in projects. They are preferred as the modern, smooth aesthetic look and good for building in cities; provide extra living space such as terraces or for Solar Panels. They are usually seen on commercial structures, newly constructed homes, as well as buildings where the clean and elegant look is preferred.
• Sloper roofs on the other hand are those with a distinctive angled designs and are common with the residential buildings and more of traditional structural designs. They provide proper water shedding as well as snow disposal which make it ideal in areas with much precipitation or those that experience complicated weather climates. People love them for the reason that they are versatile in terms of the existing architectural designs; they are durable, and they have beauty on their side too. It should also be noted that flat roof and slope roofs are twomost popular types of roofing that are fulfilling various functional and ornamental needs in construction projects all over the world and thus add to the diversification of roofing market.

Roofing Market Regional Insights:

Asia Pacific  is Expected to Dominate the Market Over the Forecast period

• The Asia Pacific region has a great potential that will greatly influence the roofing market throughout the foreseen period. All this envisaged leadership is attributed to the following factors. For instance, fast-growing economies spur urban expansion in countries such as China, India, and southeast Asian nations hence escalating the demand for residential and commercial buildings which calls for roofing systems.
• Also, the government effort in enhancing infrastructure, coupled with increasing disposable incomes, augmented by a expanding middle income group, are many factors that are enhancing the market growth in the region. Furthermore, there has been a steady increase in Asia Pacific developments concerning new types of roof as well as roofing technologies and products, most of which are increasingly focusing on energy efficiency as well as sustainability of structures around the world. Therefore, Asia Pacific is a large market that has not only a strong demand for roofing products and services but also plays a strategic role in determining the future trends of roofing industry across the globe.

Active Key Players in the Roofing Market

• Sika Ag (Switzerland)
• Standard Industries Inc. (Usa)
• Duro-Last, Inc. (Usa)
• Atlas Roofing Corporation (Usa)
• Basf Se (Germany)
• Owens Corning (Usa)
• Johns Manville (Usa)
• Dow Inc. (Usa)
• 3m Company (Usa)
• Dupont De Nemours, Inc. (Usa), Other Key Players.

Key Industry Developments in the Roofing Market

• In January 2024, Bessemer Investors' Legacy Restoration forms a strategic collaboration with Southern Roofing and Renovations, likely aiming to expand market reach or enhance service offerings in the roofing industry
• In May 2023, Ruukki, a Finnish company, launches the innovative Pohjalainen roofing sheet, indicating a significant development in roofing technology or design, potentially offering improved performance or aesthetics for customers in Finland and beyond
• In February 2023, Holcim announces the acquisition of Duro-Last Roofing Systems for $1.3 billion, suggesting a strategic move to strengthen its position in the roofing market. Duro-Last's specialized systems are expected to complement Holcim's existing roofing portfolio, potentially enhancing its capabilities and market competitiveness.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Roofing Market by Roofing Material Bituminous Roofing
 4.1 Roofing Market Snapshot and Growth Engine
 4.2 Roofing Market Overview
 4.3 Metal Roofing
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Metal Roofing: Geographic Segmentation Analysis
 4.4  Tile Roofing
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4  Tile Roofing: Geographic Segmentation Analysis
 4.5  Others
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4  Others: Geographic Segmentation Analysis

Chapter 5: Roofing Market by Roofing Type
 5.1 Roofing Market Snapshot and Growth Engine
 5.2 Roofing Market Overview
 5.3 Flat Roof
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Flat Roof: Geographic Segmentation Analysis
 5.4  Slope Roof
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4  Slope Roof: Geographic Segmentation Analysis

Chapter 6: Roofing Market by Application
 6.1 Roofing Market Snapshot and Growth Engine
 6.2 Roofing Market Overview
 6.3 Residential
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Residential: Geographic Segmentation Analysis
 6.4 Commercial
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Commercial: Geographic Segmentation Analysis
 6.5 Industrial
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Industrial: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Roofing Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 SIKA AG (SWITZERLAND)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 STANDARD INDUSTRIES INC (USA)
 7.4 DURO-LAST INC (USA)
 7.5 ATLAS ROOFING CORPORATION (USA)
 7.6 BASF SE (GERMANY)
 7.7 OWENS CORNING (USA)
 7.8 JOHNS MANVILLE (USA)
 7.9 DOW INC (USA)
 7.10 3M COMPANY (USA)
 7.11 DUPONT DE NEMOURS INC (USA)

Chapter 8: Global Roofing Market By Region
 8.1 Overview
 8.2. North America Roofing Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.2.4.1 Metal Roofing
   8.2.4.2  Tile Roofing
   8.2.4.3  Others
  8.2.5 Historic and Forecasted Market Size By Roofing Type
   8.2.5.1 Flat Roof
   8.2.5.2  Slope Roof
  8.2.6 Historic and Forecasted Market Size By Application
   8.2.6.1 Residential
   8.2.6.2 Commercial
   8.2.6.3 Industrial
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Roofing Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.3.4.1 Metal Roofing
   8.3.4.2  Tile Roofing
   8.3.4.3  Others
  8.3.5 Historic and Forecasted Market Size By Roofing Type
   8.3.5.1 Flat Roof
   8.3.5.2  Slope Roof
  8.3.6 Historic and Forecasted Market Size By Application
   8.3.6.1 Residential
   8.3.6.2 Commercial
   8.3.6.3 Industrial
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Roofing Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.4.4.1 Metal Roofing
   8.4.4.2  Tile Roofing
   8.4.4.3  Others
  8.4.5 Historic and Forecasted Market Size By Roofing Type
   8.4.5.1 Flat Roof
   8.4.5.2  Slope Roof
  8.4.6 Historic and Forecasted Market Size By Application
   8.4.6.1 Residential
   8.4.6.2 Commercial
   8.4.6.3 Industrial
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Roofing Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.5.4.1 Metal Roofing
   8.5.4.2  Tile Roofing
   8.5.4.3  Others
  8.5.5 Historic and Forecasted Market Size By Roofing Type
   8.5.5.1 Flat Roof
   8.5.5.2  Slope Roof
  8.5.6 Historic and Forecasted Market Size By Application
   8.5.6.1 Residential
   8.5.6.2 Commercial
   8.5.6.3 Industrial
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Roofing Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.6.4.1 Metal Roofing
   8.6.4.2  Tile Roofing
   8.6.4.3  Others
  8.6.5 Historic and Forecasted Market Size By Roofing Type
   8.6.5.1 Flat Roof
   8.6.5.2  Slope Roof
  8.6.6 Historic and Forecasted Market Size By Application
   8.6.6.1 Residential
   8.6.6.2 Commercial
   8.6.6.3 Industrial
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Roofing Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Roofing Material Bituminous Roofing
   8.7.4.1 Metal Roofing
   8.7.4.2  Tile Roofing
   8.7.4.3  Others
  8.7.5 Historic and Forecasted Market Size By Roofing Type
   8.7.5.1 Flat Roof
   8.7.5.2  Slope Roof
  8.7.6 Historic and Forecasted Market Size By Application
   8.7.6.1 Residential
   8.7.6.2 Commercial
   8.7.6.3 Industrial
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research