Roofing Market by Types (Slope Roof and Flat Roof), Construction Types (New Construction and Re-roofing), Materials (Plastic, Bituminous, Clay, Metal, Concrete, Elastomer, and Others), Applications (Commercial, Industrial, and Residential), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global roofing market size is estimated to expand at a high CAGR during the forecast period, between 2021 and 2028. The growth of the market is attributed to the growing need for re-roofing activities.

Roofing refers to the covering area of the top of a building. Several substances are used for roofing as per the nature of the building and different style of the building construction. Some of the major substances mainly used in the roofing can be polymer, metal, concrete, or other needed materials that ensure to protect the building from snow, sunlight, rain, wind, and temperature extremes. Roofs in commercial and residential structures are also primarily made of bitumen, polycarbonate, ceramic coated granules, clay, concrete, sand, and fiberglass. Beside its necessity, roofing helps to increase the aesthetic value of a building, improves its durability, and protects it from harsh environmental conditions. Furthermore, there are other advantages to modern roofing such as ventilation, air cooling, and aesthetic enhancements to infrastructure.

Market Trends, Drivers, Restraints, and Opportunities

• Growing urbanization and technological innovations in the construction sector are the primary drivers fuelling the global roofing market.
• Increasing investment in infrastructure development and growing preference for reroofing activities are expected to drive the market in the coming years.
• Rising popularity of translucent roofing panels in sunrooms, patios, and other places that require natural light through the roof is propelling the market.
• High installation cost of roofing systems, lack of qualified installation labour, price fluctuations, and waste generation are projected to hinder the market expansion.
• Creating effective roofing systems to ensure long-term performance as well as technology improvements in products are likely to open up new opportunities for the market growth.

Scope of the report

The report on the global roofing market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Global Roofing Market Segment Insights

Slope roof segment is projected to hold significant market share

Based on types, the global roofing market is bifurcated into slope roof and flat roof. The slope roof segment is projected to hold significant market share due to the advances in the construction sector and rising urbanization. Moreover, the increase in the number of construction activities in residential and commercial sectors is expected to drive the segment market in the coming years.

New construction segment is anticipated to account for substantial share

On the basis of construction types, the market is divided into new construction and re-roofing. The new construction segment is anticipated to account for substantial share of the market owing to the rising industrialization in developing countries as well as fast urbanization. Several economies are bolstering the residential construction sector through customer-centric regulations and the implementation of affordable housing projects. Furthermore, the simple availability of credit and rising discretionary income of middle-class families worldwide are driving up material demand.

Bituminous segment to expand at a substantial growth rate

In terms of materials, the global roofing market is segmented into plastic, bituminous, clay, metal, concrete, elastomer, and others. The bituminous segment is expected to expand at a substantial growth rate during the projected timeline. Bituminous materials such as asphalt shingles are the most prevalent and favoured material choice in North America and Asia Pacific. Bituminous provide a wide range of product durability, availability, strong fire and wind resistance, and good aesthetics. The development of improved bituminous that can withstand high impact is also supporting material demand. The introduction of sophisticated technology improves aesthetics, which is projected to increase the roofing market in the future. The influence of new technologies is minimal; nevertheless, its impact is projected to grow in the near future due to the increased use of bituminous roofing in commercial and residential buildings.

Residential segment to register a healthy growth rate

Based on applications, the market is fragmented into commercial, industrial, and residential. The residential segment is anticipated to register a healthy growth rate in the coming years due to the rising regulatory and institutional support for creating housing infrastructure in emerging nations. The demand for residential construction is increasing as the population grows and people prefer single-family homes. Furthermore, the availability of credit and low-interest rates play a vital influence in the total demand for residential constructions. Furthermore, the increased investments by homeowners in green buildings are also expected to have a positive impact on future demand for roofing materials.

Asia Pacific is expected to dominate the market

In terms of regions, the global roofing market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market owing to the rapid economic expansion, wide population, and the presence of various product manufacturers in the region. Moreover, the growth of the regional market is further accelerated due to rising disposable income and changing lifestyle to boost a thriving residential sector in India, South Korea, Indonesia, and China. This region is projected to experience rapid growth in the building sector, resulting in a significant demand for roofing systems. Increasing industrial operations particularly in India and China along with a growing population have resulted in increased demand for construction and building activities present another key driver of the regional market.

Segments

Segments Covered in the Report
The global roofing market has been segmented on the basis of

Types

• Slope Roof
• Flat Roof

• New Construction
• Re-roofing

• Plastic
• Bituminous
• Clay
• Metal
• Concrete
• Elastomer
• Others

• Commercial
• Industrial
• Residential

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

• 3M
• Owens Corning
• DuPont
• Sika AG
• Duro-Last, Inc.
• Standard Industries Inc.
• Johns Manville
• Dow
• Atlas Roofing Corporation
• Carlisle Companies

Competitive Landscape

Key players competing in the global roofing market are 3M; Owens Corning; DuPont; Sika AG; Duro-Last, Inc.; Standard Industries Inc.; Johns Manville; Dow; Atlas Roofing Corporation; and Carlisle Companies. Companies are constantly investing in R&D, launching new products, and planning to build new manufacturing facilities in order to influence their market shares.