Roofing Materials Market: Growth Forecast & Industry Share Report To 2027

By Ronak Bora

The Roofing Materials Market to value $ 159 Billion by 2027. Concerns over energy consumption across developed economies have accelerated the adoption of energy-efficient roofing solutions. The rising trend of green buildings projects in developing economies like Germany, the U.S., and other economies along with the usage of energy-efficient gravels in buildings is expected to accelerate the product demand. Rising urbanization and increasing investment by governments of emerging economies in the residential construction industry may offer lucrative opportunities for roofing material suppliers.
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Roofing materials market from residential segment is estimated to register a robust CAGR of over 4.6% through 2027. Speaking of the residential sector, roofing materials are witnessing heightened demand in this segment owing to the increasing residential construction projects especially across Asia Pacific and Middle East. In addition, growing urbanization, rising disposable income along with increasing consumer inclination towards house renovation is fostering the product adoption further.
The industry can be supported by rising disposable income and increasing demand for new housing projects globally. The emerging trend of green building projects along with rising environmental concerns will be some of the major factors contributing to the acceptance of sustainable roofing materials. Prominent manufacturers operating in the roofing material industry include CertainTeed Corporation, Atlas Roofing Materials Corporation, Owens Corning, and others.
The U.S. is the one of the major consumers of roofing materials across the globe. The North America roofing materials market showcases a considerable growth rate and generated over USD 29 billion revenue in 2020. The region is witnessing a requirement for renovation projects.
The reroofing construction is expected to hold significance in regions like North America and Europe. Report claims that the reroofing segment held around 48% volumetric shares in 2020. Both North America and Europe comprise of residential houses that are in need for renovation and refurbishment. Apart from this, rising number of storms and other adverse weather conditions are frequently observed in the region which is anticipated drive the requirement for reroofing. Easy installation procedures, advancement in products, and affordability of products may drive segment growth in the coming years.
The region is witnessing a requirement for renovation projects. It also composes of the presence of a wide range of companies specializing in roofing materials. In 2021, US LBM announced that two of the company’s working divisions, Raymond Building Supply and Coastal Roofing Supply, in Florida, have amalgamated to add roofing products at its North Fort Myers and North Port locations. Increasing construction of new buildings and proliferating indoctrination could supplement the regional industry overtime.
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Some Point from Table of Contents:
Chapter 5 Roofing Materials Market, By Type of Construction
5.1 Global roofing materials market, by type of construction insights
5.2 New construction
5.2.1 Global market estimates and forecasts, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3 Reroofing
5.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 6 Roofing Materials Market, By Application
6.1 Global roofing materials industry, by application insights
6.2 Residential
6.2.1 Global market estimates and forecasts, 2017 - 2027
6.2.2 Market estimates and forecast, by region, 2017 - 2027
6.3 Non residential
6.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.2 Market estimates and forecast, by region, 2017 - 2027
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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