Roofing Materials Market Synopsis

Roofing Materials market was worth USD 122.35 Billion in 2023. It is expected to reach USD 181.82 Billion by  2032 with a CAGR of 4.5% over the period from 2024 to 2032.

Roofing materials are the various types of materials used to construct or cover roofs. These materials can vary widely in terms of composition, durability, cost, and aesthetic appeal. The roofing materials market encompasses a diverse array of products used in the construction and maintenance of roofs across residential, commercial, and industrial sectors.

• Traditional roofing materials like asphalt shingles dominate the market due to their affordability, ease of installation, and adequate performance. However, there's a growing trend towards more sustainable and durable options like metal roofing, which offers longevity and environmental benefits. Similarly, the demand for clay and concrete tiles persists, particularly in regions where aesthetics play a significant role.
• There has been a notable surge in the adoption of eco-friendly roofing materials such as recycled rubber, plastic, and wood, reflecting the increasing emphasis on sustainability within the construction industry. These materials offer benefits like energy efficiency, reduced environmental impact, and improved insulation properties.
• The roofing materials market is also witnessing innovations driven by technological advancements. For instance, the development of solar roofing solutions integrates photovoltaic cells directly into roofing materials, allowing buildings to generate renewable energy while maintaining their aesthetic appeal. Additionally, advancements in coatings and sealants enhance the durability and weather resistance of roofing materials, prolonging their lifespan and reducing maintenance requirements.
• Global economic conditions, regulatory policies, and shifts in consumer preferences play crucial roles in shaping the dynamics of the roofing materials market. For example, government incentives and regulations promoting energy-efficient construction practices stimulate the demand for eco-friendly roofing materials and technologies. Conversely, economic downturns or fluctuations in raw material prices can impact market growth and pricing strategies within the industry.

Global Roofing Materials Market Trend Analysis

Construction Industry Growth

• The construction industry's growth is the primary driving force behind the roofing materials market. As urbanization continues to surge globally, the demand for residential, commercial, and industrial infrastructure rises, propelling the need for roofing materials.
• Population growth, coupled with increasing disposable income, fuels construction activities, stimulating the roofing materials market further. Moreover, renovations and remodeling projects contribute significantly to the demand for roofing materials as existing structures require maintenance and upgrades.
• Technological advancements have also influenced the roofing materials market. Innovations such as eco-friendly and energy-efficient roofing solutions have gained traction due to growing environmental concerns and government regulations promoting sustainable construction practices.
• The shift towards smart buildings integrating solar panels, green roofs, and advanced insulation systems has augmented the demand for specialized roofing materials. Geographically, emerging economies experiencing rapid urbanization and infrastructure development, such as China, India, and Brazil, present lucrative opportunities for the roofing materials market.

Sustainable Roofing Solutions Create an Opportunity for the Global Roofing Materials Market

• Sustainable roofing solutions present a myriad of opportunities within the roofing materials market. As environmental concerns grow, there's an increasing demand for eco-friendly, energy-efficient, and durable roofing options.
• Materials like metal roofing, which can be recycled at the end of their lifespan, and solar tiles, which generate renewable energy, are gaining traction. Additionally, green roofs, covered in vegetation, provide insulation, absorb rainwater, and mitigate the urban heat island effect, making them attractive options for environmentally conscious consumers.
• Furthermore, advancements in technology have led to the development of innovative materials such as cool roofs, which reflect sunlight and reduce heat absorption, thereby lowering energy costs for building owners.
• The rise of sustainable building certifications, like LEED (Leadership in Energy and Environmental Design), further drives the adoption of sustainable roofing materials as developers seek to meet stringent environmental standards. Government incentives and regulations aimed at reducing carbon emissions and promoting sustainable construction practices also contribute to the growth of this market.

Global Roofing Materials Market Segment Analysis:

Global Roofing Materials Market is Segmented divided into Material Type, Application, and End-User.

By Material Type, the Asphalt Shingles segment is expected to dominate the market during the forecast period

• The Asphalt Shingles segment is poised to assert dominance by material type. This segment's prominence stems from several key factors, chiefly its widespread usage, durability, and cost-effectiveness. Asphalt shingles offer a versatile solution suitable for various architectural styles and climates, making them a popular choice among homeowners, contractors, and builders alike.
• The dominance of asphalt shingles is their affordability compared to other roofing materials. They provide an excellent balance between quality and price, appealing to both budget-conscious consumers and those seeking reliable, long-lasting roofing solutions. Additionally, advancements in technology have led to the development of asphalt shingles with enhanced performance characteristics, such as improved weather resistance and energy efficiency, further bolstering their appeal.
• Moreover, the ease of installation and maintenance associated with asphalt shingles contributes to their widespread adoption. Contractors appreciate the simplicity and efficiency of installing asphalt shingle roofs, reducing labor costs and project timelines. Homeowners benefit from minimal maintenance requirements, ensuring hassle-free upkeep over the roof's lifespan.

By Application, the Residential segment held the largest share of 33.17% in 2023

• The residential segment stands poised to assert dominance, wielding significant influence over the market landscape. This dominance is fueled by several key factors that underscore the prominence of residential applications in shaping market dynamics.
• The sheer volume of residential construction projects worldwide contributes substantially to the market's direction. As populations grow and urbanization accelerates, the demand for housing proliferates, propelling the need for roofing materials. Residential structures, ranging from single-family homes to multi-unit dwellings, constitute a vast majority of construction endeavors, thereby amplifying the segment's impact on the roofing materials market.
• Moreover, the evolving preferences and priorities of homeowners play a pivotal role in shaping market trends. As consumers increasingly prioritize factors such as energy efficiency, durability, and aesthetic appeal, manufacturers respond by innovating and diversifying their product offerings within the residential sector.

Global Roofing Materials Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

• North America is poised to maintain its dominance in the roofing materials market due to several key factors. Firstly, the region's robust construction industry, fueled by urbanization and infrastructure development, continues to drive demand for roofing materials. Additionally, stringent building codes and regulations regarding energy efficiency and sustainability push the adoption of advanced roofing materials such as metal roofing, cool roofs, and green roofs, further bolstering market growth.
• Moreover, the increasing frequency and intensity of extreme weather events, including hurricanes and storms, underscore the need for durable and resilient roofing solutions, spurring investments in high-performance materials like asphalt shingles, tiles, and synthetic roofing membranes.
• Furthermore, technological advancements in roofing materials, such as the integration of solar panels and smart roofing systems, offer opportunities for innovation and market expansion in North America.

Key Industry Developments:-

• In January 2023 - Owens Corning acquired Natural Polymers LLC, a company that specializes in the manufacturing of spray polyurethane foam insulation for building and construction applications.
• In February 2023 - Johns Manville, a Berkshire Hathaway company, announced two new products for bituminous roofing systems to help improve productivity on the roof.
• In February 2023 - Carlisle Companies Incorporated acquired MBTechnology, Inc. (MBT). This acquisition will expand CWT’s modified bitumen roofing offerings and provide additional capacity for roofing underlayment.

Global Roofing Materials Market Top Key Players:

• Owens Corning (USA)
• CertainTeed Corporation (USA)
• GAF Materials Corporation (USA)
• IKO Industries (Canada)
• Johns Manville (USA)
• TAMKO Building Products (USA)
• Malarkey Roofing Products (USA)
• Atlas Roofing Corporation (USA)
• Eagle Roofing Products (USA)
• Firestone Building Products (USA)
• Boral Roofing (USA)
• BMI Group (United Kingdom)
• Sika AG (Switzerland)
• Monier Group (Australia)
• Metal Sales Manufacturing Corporation (USA)
• Euroshield (Canada)
• DECRA Roofing Systems (USA)
• Carlisle Companies Incorporated (USA)
• Gerard Roofing Technologies (New Zealand)
• Englert Inc. (USA), Other Active players

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. ROOFING MATERIALS MARKET BY MATERIAL TYPE (2017- 2032)
   1. ROOFING MATERIALS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ASPHALT SHINGLES
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 –  2032F)
      3. Historic And Forecasted Market Size in Volume (2017 –  2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4.  METAL ROOFING
   5. TILES
   6. WOOD SHAKES/SHINGLES
   7. SYNTHETIC ROOFING MATERIALS
7. ROOFING MATERIALS MARKET BY APPLICATION (2017- 2032)
   1. ROOFING MATERIALS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. RESIDENTIAL
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 –  2032F)
      3. Historic And Forecasted Market Size in Volume (2017 –  2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. COMMERCIAL
   5. INDUSTRIAL
8. ROOFING MATERIALS MARKET BY END USER (2017- 2032)
   1. ROOFING MATERIALS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. NEW CONSTRUCTION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 –  2032F)
      3. Historic And Forecasted Market Size in Volume (2017 –  2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. RENOVATION & REPAIR
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. ROOFING MATERIALS Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. OWENS CORNING (USA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. CERTAINTEED CORPORATION (USA)
   4. GAF MATERIALS CORPORATION (USA)
   5. IKO INDUSTRIES (CANADA)
   6. JOHNS MANVILLE (USA)
   7. TAMKO BUILDING PRODUCTS (USA)
   8. MALARKEY ROOFING PRODUCTS (USA)
   9. ATLAS ROOFING CORPORATION (USA)
   10. EAGLE ROOFING PRODUCTS (USA)
   11. FIRESTONE BUILDING PRODUCTS (USA)
   12. BORAL ROOFING (USA)
   13. BMI GROUP (UNITED KINGDOM)
   14. SIKA AG (SWITZERLAND)
   15. MONIER GROUP (AUSTRALIA)
   16. METAL SALES MANUFACTURING CORPORATION (USA)
   17. EUROSHIELD (CANADA)
   18. DECRA ROOFING SYSTEMS (USA)
   19. CARLISLE COMPANIES INCORPORATED (USA)
   20. GERARD ROOFING TECHNOLOGIES (NEW ZEALAND)
   21. ENGLERT INC. (USA), OTHER ACTIVE PLAYERS
10. GLOBAL ROOFING MATERIALS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Material Type
       4. Historic And Forecasted Market Size By Application
       5. Historic And Forecasted Market Size By End-User
       6. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis

Potential Market Strategies