Metal roofing is a type of roofing system made from different types of pre-engineered metal designed to withstand all weather conditions and last significantly longer than traditional roofing materials such as asphalt shingles. Metal roofing offers various advantages such as longevity, durability, resistance to extreme weather conditions, recyclability, and fireproofing. The demand for metal roofing is increasing significantly owing to ongoing and planned infrastructural development projects as well as remodeling and renovation activities worldwide.
The global metal roofing market is estimated to be valued at US$ 10.95 billion in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the metal roofing market are Tata Steel (Tata Group), BlueScope Steel Limited, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co. Ltd., Drexel Metals Inc. (Carlisle SynTec Inc), and Reed's Metals. These key players are focused on expanding their production capacities and geographical footprints through mergers & acquisitions and strategic partnerships with regional players.
The growing need for economical, durable, and sustainable roofing materials across the residential and non-residential construction sectors is expected to create lucrative growth opportunities for metal roofing manufacturers. Furthermore, rising environmental concerns and the increasing popularity of green buildings are augmenting the demand for metal roofing.
The Metal Roofing Market Size is witnessing significant expansion in regions such as Asia Pacific and Latin America led by ongoing industrialization and rapid urbanization. Growing construction spending on residential and commercial infrastructure in developing countries is propelling the sales of metal roofing systems in these emerging markets.
Market Drivers and Restraint
The ongoing large-scale infrastructure development projects across both developing and developed nations are fueling the demand for long-lasting and economical metal roofing solutions in the industrial and commercial construction sectors. For instance, governments across Asia are investing heavily in transport infrastructure, power generation, and affordable housing projects which is driving the metal roofing market.
However, the high initial installation cost of metal roofing compared to conventional materials such as clay tiles and concrete tiles may hamper the market growth to some extent. Also, the fluctuating prices of steel and aluminum which are the key raw materials for metal roofing pose challenges for manufacturers and can restrain the consistent demand and supply of metal roofing products.
Segment Analysis
For the metal roofing market, the steel roofing segment presently dominates, accounting for over 65% of the total market share. Steel is preferred for roofing applications as it provides durability and long-term protection against various weather elements like rain, snow, wind, and UV radiation. It has a functional lifespan of 50 years or more and requires low maintenance.
The aluminum segment is the second largest and is expected to witness the highest growth during the forecast period. This is attributed to the lightweight and corrosion-resistant properties of aluminum, which make it suitable for roofing applications. It is aesthetically appealing and 50% lighter than conventional steel roofing.
Global Analysis
Regionally, North America holds the major share of the global metal roofing market. The growth can be attributed to the increasing residential construction activities and infrastructure development projects in the region. The US accounts for over 80% of the North American metal roofing market.
Asia Pacific is expected to grow at the fastest rate during the forecast period owing to rapid urbanization and industrialization in countries like China and India. China dominates the APAC metal roofing market with a share of over 60%. Thailand, India, and Japan are other major markets in the region. Factors such as rising disposable incomes, improving standards of living, and proliferation of industrial and commercial construction have been fueling the demand for metal roofing in the APAC region.
Regionally, North America holds the major share of the global metal roofing market. The growth can be attributed to the increasing residential construction activities and infrastructure development projects in the region. The US accounts for over 80% of the North American metal roofing market.
Asia Pacific is expected to grow at the fastest rate during the forecast period owing to rapid urbanization and industrialization in countries like China and India. China dominates the APAC metal roofing market with a share of over 60%. Thailand, India, and Japan are other major markets in the region. Factors such as rising disposable incomes, improving standards of living, and proliferation of industrial and commercial construction have been fueling the demand for metal roofing in the APAC region.
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Global Market for Metal Roofing Market – Segmental Analysis:MRFR’s report offers a detailed segmental analysis of the market based on product type, metal type, and application.
By metal type, the market is segmented into steel roofing; copper roofing; aluminum roofing; zinc roofing; tin roofing; and others.
By application, the market has been segmented into residential; commercial; and industrial.Access Report @ https://www.marketresearchfuture.com/reports/metal-roofing-market-6554Regional Outlook:The global metal roofing market, by region, has been segmented into North America, Asia Pacific, Europe, and the Rest of the World.
Asia Pacific is expected to witness significant growth over the next couple of years.
The growth is attributable to the rapid urbanization and exponential population in the region which has catapulted the construction sector on an upward trajectory.
The prominent country-level markets of the region include India, China, and Malaysia among others.North America is a vital growth pocket and is likely to remain a lucrative market in the upcoming years.
