Steel Roofing Market By Product Type (Corrugated Steel Panels, Steel Shingles and Shakes, Stone-coated Steel Tiles, and Standing Seam), By Application (Commercial, Industrial, and Residential) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Steel Roofing Market Outlook
The global steel roofing market size was valued at USD 7,644.5 Mn in 2019 and has been projected to reach USD 11,079.0 Mn by 2027, expanding at a CAGR of 4.8% during the forecast period. Roofing is made from different materials such as concrete, brass, stainless steel, copper, and zinc alloys. Each of these has varying longevity, size, and appearance. Steel and aluminum are widely used metals for roofing materials.
Steel roofing solutions are becoming increasingly popular as architects, designers, and homeowners want sleek and innovative alternatives for conventional work. Steel Roofing are lightweight, cost-effective, easy to install, requires low maintenance, and is reliable.
Steel Roofing Market Dynamics
Drivers
Factor driving the global steel roofing market include the growth of the construction industry in emerging economies due to urbanization and growing demand for energy-efficient and eco-friendly roofing systems.
In roofing systems, the adoption of the solar power and energy code affect the metal roofing market as it requires steel roofing. Steel roof panels are more energy efficient than other common roofing materials, including asphalt panels.
Furthermore, several other benefits of steel roofing include the clean, architectural look, and vivid colors. Therefore, the popularity of steel roofing among homeowners has been increasing.
Steel roofing are considered to be fire-resistant which make them safe and majorly popular in industrial buildings. Steel roofing recommended in hail-prone areas owing to its impact resistance attribute, in hurricane areas due to its wind-resistance, and in areas prone to forest fires attributed to its fire resistance. Moreover, steel roofs are resistant to mildew, insects, heat, snow, and rot which make its maintenance less costly. This is expected to drive the global steel roofing market.
It is relatively easy to build steel roofs or install over existing the roof. Additionally, steel roofs are useful in times of raw weather and in areas that frequently experience hurricanes and cyclones. Light weight of steel saves engineering and construction time required for the supporting framework, which in turn drives market growth.
Opportunity
Recent technological developments and rise in R&D spending in the construction industry are creating lucrative opportunities for key players in the market.
Scope of Steel Roofing Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Steel Roofing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2019 |
Historic Data | 2017–2018 |
Forecast Period | 2020–2027 |
Segmentation | Product (Corrugated Steel Panels, Steel Shingles and Shakes, Stone-coated Steel Tiles, Standing Seam), Applications (Commercial, Industrial, Residential) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report | CertainTeed; Cornerstone Building Brands; DECRA Roofing Systems, Inc.; Fletcher Steel Limited (Dimond Roofing); Lindab; Metal Sales Manufacturing Corporation; Rautaruukki Corporation; Tata Bluescope Steel; The OmniMax International; Tata Steel. |
Steel Roofing Market Segment Insights
Types Segment Analysis
In terms of types, the steel roofing market has been segregated into corrugated steel panels, steel shingles and shakes, stone-coated steel tiles, and standing seam. The corrugated steel panels segment has been anticipated to expand at a CAGR of 4.7% during the forecast period due to rising preference towards lightweight sheets and ease of installation.
The steel shingles and shakes segment has been estimated to hold 19.0% share of the market in 2020 owing to its ability to be durable as well as less corrosive from harsh weather conditions.
Application Segment Analysis
Based on applications, the market is segmented into industrial, residential, and commercial. The industrial segment is projected to hold a major share of the market being valued at USD 3,842.4 Million in 2019 and growing at a significant CAGR during the forecast period.
The growth of the segment is attributed to effective insulation attributes provided by steel roofing. The commercial segment is expected to expand at a CAGR of 4.9% due to developments and improvements in infrastructure technology for commercial applications.
Regional Analysis
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region accounted for 39.5% share of the market in 2019.
The market in the region is projected to expand at a CAGR of 4.4% during the forecast period. Increasing population and urbanization in the region and high demand for low-maintenance roofs are driving the steel roofing market in Asia Pacific.
The market in North America is projected to expand at a CAGR of 3.9% owing to implementation of environment friendly regulations by the government in the construction sector. The market in Middle East & Africa is expected to grow at a sluggish pace due to the lack of awareness and acceptance of steel roofing.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Steel Roofing Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints, and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Steel Roofing Market Performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Steel Roofing Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Steel Roofing Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Steel Roofing Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Steel Roofing Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Steel Roofing Market Size & Forecast, 2017-2027
4.5.1 Steel Roofing Market Size and Y-o-Y Growth
4.5.2 Steel Roofing Market Absolute $ Opportunity
Chapter 5 Global Steel Roofing Market Analysis and Forecast By Product Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Product Type
5.1.2 Basis Point Share (BPS) Analysis By Product Type
5.1.3 Absolute $ Opportunity Assessment By Product Type
5.2 Steel Roofing Market Size Forecast By Product Type
5.2.1 Corrugated Steel Panels
5.2.2 Steel Shingles and Shakes
5.2.3 Stone-coated Steel Tiles
5.2.4 Standing Seam
5.3 Market Attractiveness Analysis By Product Type
Chapter 6 Global Steel Roofing Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Steel Roofing Market Size Forecast By Application
6.2.1 Commercial
6.2.2 Industrial
6.2.3 Residential
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Steel Roofing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Steel Roofing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Steel Roofing Analysis and Forecast
9.1 Introduction
9.2 North America Steel Roofing Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Steel Roofing Market Size Forecast By Product Type
9.6.1 Corrugated Steel Panels
9.6.2 Steel Shingles and Shakes
9.6.3 Stone-coated Steel Tiles
9.6.4 Standing Seam
9.7 Basis Point Share (BPS) Analysis By Product Type
9.8 Absolute $ Opportunity Assessment By Product Type
9.9 Market Attractiveness Analysis By Product Type
9.10 North America Steel Roofing Market Size Forecast By Application
9.10.1 Commercial
9.10.2 Industrial
9.10.3 Residential
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Steel Roofing Analysis and Forecast
10.1 Introduction
10.2 Europe Steel Roofing Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Steel Roofing Market Size Forecast By Product Type
10.6.1 Corrugated Steel Panels
10.6.2 Steel Shingles and Shakes
10.6.3 Stone-coated Steel Tiles
10.6.4 Standing Seam
10.7 Basis Point Share (BPS) Analysis By Product Type
10.8 Absolute $ Opportunity Assessment By Product Type
10.9 Market Attractiveness Analysis By Product Type
10.10 Europe Steel Roofing Market Size Forecast By Application
10.10.1 Commercial
10.10.2 Industrial
10.10.3 Residential
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Steel Roofing Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Steel Roofing Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Steel Roofing Market Size Forecast By Product Type
11.6.1 Corrugated Steel Panels
11.6.2 Steel Shingles and Shakes
11.6.3 Stone-coated Steel Tiles
11.6.4 Standing Seam
11.7 Basis Point Share (BPS) Analysis By Product Type
11.8 Absolute $ Opportunity Assessment By Product Type
11.9 Market Attractiveness Analysis By Product Type
11.10 Asia Pacific Steel Roofing Market Size Forecast By Application
11.10.1 Commercial
11.10.2 Industrial
11.10.3 Residential
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Steel Roofing Analysis and Forecast
12.1 Introduction
12.2 Latin America Steel Roofing Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Steel Roofing Market Size Forecast By Product Type
12.6.1 Corrugated Steel Panels
12.6.2 Steel Shingles and Shakes
12.6.3 Stone-coated Steel Tiles
12.6.4 Standing Seam
12.7 Basis Point Share (BPS) Analysis By Product Type
12.8 Absolute $ Opportunity Assessment By Product Type
12.9 Market Attractiveness Analysis By Product Type
12.10 Latin America Steel Roofing Market Size Forecast By Application
12.10.1 Commercial
12.10.2 Industrial
12.10.3 Residential
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Steel Roofing Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Steel Roofing Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Steel Roofing Market Size Forecast By Product Type
13.6.1 Corrugated Steel Panels
13.6.2 Steel Shingles and Shakes
13.6.3 Stone-coated Steel Tiles
13.6.4 Standing Seam
13.7 Basis Point Share (BPS) Analysis By Product Type
13.8 Absolute $ Opportunity Assessment By Product Type
13.9 Market Attractiveness Analysis By Product Type
13.10 Middle East & Africa (MEA) Steel Roofing Market Size Forecast By Application
13.10.1 Commercial
13.10.2 Industrial
13.10.3 Residential
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Steel Roofing Market: Competitive Dashboard
14.2 Global Steel Roofing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 CertainTeed
14.3.2 Cornerstone Building Brands
14.3.3 DECRA Roofing Systems, Inc.
14.3.4 Fletcher Steel Limited (Dimond Roofing)
14.3.5 Lindab
14.3.6 Metal Sales Manufacturing Corporation
14.3.7 Rautaruukki Corporation
14.3.8 Tata Bluescope Steel
14.3.9 The OmniMax International
14.3.10 Tata Steel