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CM23058680 |
Pages: 300 |
May 2023 |
The material used in the uppermost layer of a commercial, residential, or industrial building's roof is called roofing material. Concrete and clay tiles, bituminous, elastomers, metal, and plastics are only a few of the materials used in the process. The material helps the roof with temperature control and water resistance. Roofing materials are the outermost layers of a building's roof that are used to create or repair the roof. The roof is an important feature of building a house since it protects against weather and natural factors. The external layer of a roof differs depending on the available material and the complexity of the supporting system. Roofing materials range from natural resources such as slates and thatches to industrial ones such as bituminous tiles, plastic roofs, and others. Rising investments in the creation and restoration of commercial and residential structures will fuel the growth of the roofing materials industry. These factors are anticipated to boost the roofing mat industry growth in the upcoming years.
The lack of skilled installation labor, fluctuating raw material prices, and a lack of safety awareness, combined with installation issues in some areas, are challenges for the market and barrier for the roofing materials market growth. This has impacted the supply of bitumen and asphalt. Furthermore, expensive manufacturing technologies used in the manufacturing of roofing materials like the oxidation process have raised the cost of bituminous roofing manufacture.
The expansion of non-residential projects, such as hotels, schools, hospitals, and industrial buildings, in emerging nations is likely to boost demand for bituminous roofing in the future years. Because of the development of new roofing technologies, energy efficient roofing systems are now accessible in the market. Green roofing, increased roof life and safety, enhanced air quality, and lower noise and air-conditioning costs all contribute to the expansion of the roofing business. The use of sophisticated technology improves aesthetics, which is projected to boost the roofing industry in the future. The impact of new technologies is moderate, but it is anticipated that as bituminous roofing is increasingly used on both residential and commercial structures, the roofing materials market share is projected to witness considerable growth.
According to regional analysis, the Asia-Pacific roofing materials market accounted a dominating market share in 2021. This is because the development of residential, commercial, and industrial sectors as a result of the region's predictable economic growth is anticipated to drive building activity, increasing demand for roofing materials.
Roofing material is the material used in the uppermost layer of the roof of a residential, commercial, or industrial structure. Among the numerous materials used in the process are concrete and clay tiles, bituminous, elastomers, metal, and plastics. The material helps the building in a variety of ways, including temperature control and water resistance. Rising disposable income, increased affordability, and the simplicity with which financing can be obtained have encouraged consumer to spend more on property repair and care. The increased consumer interest in house restoration and improving the appearance of habitational structures gave several opportunities for expanding product sales. Stringent energy-efficiency building codes and increased customer interest in green buildings are expected to boost product adoption in the near future.
The COVID-19 impact on roofing materials market brought several uncertainties leading to severe economic losses as various businesses across the world were on a standstill. The worldwide pandemic and various governments' tight restrictions created significant disruption in the whole building materials supply chain. Furthermore, enterprises were experiencing a labor shortage, both skilled and unskilled, resulting in significant losses. Furthermore, the mobility restrictions imposed during the lockdown produced logistical challenges, making raw materials difficult to procure. Because roofing is a hands-on industry that requires personal worker interaction, social distance standards enforced by various governments provided extra obstacles. To protect their employees, roofing contractors were required to implement additional safety measures and follow COVID guidelines. Construction material shortages also caused significant fluctuations in prices. According to the National Roofing Contractors Association, construction material prices rose considerably throughout the outbreak. This factor has been accompanied by construction contractors' inability to complete construction projects on time, which is due to a variety of factors including a shortage of skilled workers, supply route shutdowns and other supply chain disruptions, and an increase in demand for construction materials in both the residential and commercial sectors.
The key drivers of market expansion include increased housing and building activities across the world, as well as population growth. Smart roofing materials that are visually attractive, acoustically sound, and ecologically friendly are in great demand. The market is developing as a result of rising demand for waterproofing roofing materials and the expansion of green spaces to both residential and commercial constructions. Because of their inexpensive cost, these materials are commonly recommended for making temporary repairs to damaged roofs. Furthermore, particular roofing materials have a distinct need in certain locations due to their ability to insulate heat. All these factors drive the roofing materials market growth during the forecast period.
To know more about global roofing materials market drivers, get in touch with our analysts here.
Resurfacing worn-out roofs requires a significant expenditure of time, power, and money. Climate change may have an impact on product quality. Some of the materials, for example, cannot survive intense heat and UV radiation from sunshine yet can withstand protracted freeze-thaw cycles. Bituminous shingles might be degraded if constructed under frigid weather. They are more prone to wind lifting and can easily shatter at various temperatures since they are not as good quality as other materials. Metal roofing often has a greater initial cost than other materials.
Rapid urbanization and expanding industrial activity are driving the expansion of the global roofing industry throughout the projected period. Manufacturing companies from China and India are becoming more prevalent in this sector. Materials for roofing play a significant role in buildings. Rain and other environmental hazards are protected from by roofing. One important element anticipated to drive the global market growth during the forecast period is the rise in the use of roofing in the building industry.
To know more about global roofing materials market opportunities, get in touch with our analysts here.
Based on material, the market has been divided into asphalt shingle, metal roofs, concrete roofs, tile roofs, clay roofs, and others. Among these, the asphalt shingle sub-segment accounted for the highest market share in 2021.
Source: Research Dive Analysis
The asphalt shingle sub-type had a dominant market share in 2021. Asphalt shingles continue to be in higher demand and investment than bitumen due to their low cost and ease of installation. Building culture is evolving as a result of increased concerns about the sustainability of construction materials. Manufacturers have been focusing on increasing metal shingle output, with "recyclability" playing an important part. However, the relatively high cost of metal roofing and labor difficulties continue to challenge market participants. In the future, eco-friendly materials will be able to replace traditional ones.
The metal roofs sub-type is anticipated to show the fastest growth during the forecast period. Metal roofs have greater durability and fire resistance, which is expected to boost their demand in new building operations. Additionally, metal roofing can be easier and faster to install compared to other roofing materials, which can help reduce labor costs and shorten construction timelines. All these factors are predicted to drive the metal roofs sub-segment during the forecast period.
Based on construction type, the market has been divided into new construction, and re-roofing. Among these, the re-roofing sub-segment accounted for highest revenue share in 2021.
Source: Research Dive Analysis
The re-roofing sub-segment had a dominant market share in 2021. As a result of several instances of bad weather occurrences in various locations, residence re-roofing operations have resulted in a high demand for asphalt shingles in recent years. During the projected period, residential reroofing is likely to be the largest market for asphalt shingles. The United States has a huge number of older homes, many of which have three-tab shingles that do not meet modern building standards. As a condition of preserving coverage, insurers may compel homeowners to replace obsolete shingles with newer, more durable laminated asphalt shingles prior to policy renewal. As a consequence, increased reroofing demand is likely to propel the residential roofing market ahead throughout the forecast period.
Based on application, the market has been divided into residential and non-residential. Among these, the residential sub-segment accounted for highest revenue share in 2021.
Source: Research Dive Analysis
The residential sub-segment was accounted to have a dominant market share in 2021. owing to the increased regulatory and institutional backing for constructing housing infrastructure in emerging nations. Residential development is in high demand as the population expands and individuals prefer single-family houses. Furthermore, financing availability and low interest rates have a significant impact on total demand for residential developments. Furthermore, greater expenditures in green buildings by homeowners are likely to have a favorable influence on future demand for roofing materials. These factors are anticipated to boost the growth of residential sub-segment during the analysis timeframe.
The roofing materials market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific roofing materials market accounted for a dominant market share in 2021. One of the main drivers of the market's expansion is the rise in construction activity in the Asia-Pacific region. The global market is being driven by the region's growing population, industrialization, and building industry, which could provide manufacturers operating in the market with possibilities for expansion. Manufacturers engaged in this industry in the Asia-Pacific region have a growing presence. Rising residential, commercial, and non-commercial construction projects as well as infrastructure development initiatives in nations like China and India have significant potential. By supplying the growing demand from the expanding building and construction sector, manufacturers in the roofing sector are profiting financially.
Investment and agreement are common strategies followed by major market players. For instance, in January 2021, ProVia launched a series of metal roofing products that combine the elegance and beauty of slate or cedar shakes with the toughness and lifespan of a highly engineered, galvanized steel roof system.
Source: Research Dive Analysis
Some of the leading roofing materials market analysis players are 3M Company, Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company.
| Aspect | Particulars |
| Historical Market Estimations | 2020 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2031 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Material |
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| Segmentation by Construction Type |
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| Segmentation by Application |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global roofing materials market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on roofing materials market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Roofing Materials Market, by Material
5.1.Overview
5.1.1.Market size and forecast, by Material
5.2.Asphalt Shingle
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2021-2031
5.2.3.Market share analysis, by country, 2021 -2031
5.3.Metal Roofs
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2021-2031
5.3.3.Market share analysis, by country, 2021 -2031
5.4.Concrete Roofs
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2021-2031
5.4.3.Market share analysis, by country, 2021 - 2031
5.5.Tile Roofs
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region, 2021-2031
5.5.3.Market share analysis, by country, 2021 - 2031
5.6.Clay Roofs
5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region, 2021-2031
5.6.3.Market share analysis, by country, 2021 - 2031
5.7.Others
5.7.1.Key market trends, growth factors, and opportunities
5.7.2.Market size and forecast, by region, 2021-2031
5.7.3.Market share analysis, by country, 2021 - 2031
5.8.Research Dive Exclusive Insights
5.8.1.Market attractiveness
5.8.2.Competition heatmap
6.Roofing Materials Market, by Construction Type
6.1.Overview
6.1.1.Market size and forecast, by Construction Type
6.2.New Construction
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2021-2031
6.2.3.Market share analysis, by country, 2021- 2031
6.3.Re-roofing
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2021-2031
6.3.3.Market share analysis, by country, 2021-2031
6.4.Research Dive Exclusive Insights
6.4.1.Market attractiveness
6.4.2.Competition heatmap
7.Roofing Materials Market, by Application
7.1.Overview
7.1.1.Market size and forecast, by Application
7.2.Residential
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by region, 2021-2031
7.2.3.Market share analysis, by country, 2021 -2031
7.3.Non-residential
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by region, 2021-2031
7.3.3.Market share analysis, by country, 2021- 2031
7.4.Research Dive Exclusive Insights
7.4.1.Market attractiveness
7.4.2.Competition heatmap
8.Roofing Materials Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Material, 2021-2031
8.1.1.2.Market size analysis, by Construction Type, 2021-2031
8.1.1.3.Market size analysis, by Application, 2021-2031
8.1.2.Canada
8.1.2.1.Market size analysis, by Material, 2021-2031
8.1.2.2.Market size analysis, by Construction Type, 2021-2031
8.1.2.3.Market size analysis, by Application, 2021-2031
8.1.3.Mexico
8.1.3.1.Market size analysis, by Material, 2021-2031
8.1.3.2.Market size analysis, by Construction Type, 2021-2031
8.1.3.3.Market size analysis, by Application, 2021-2031
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness
8.1.4.2.Competition heatmap
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Material, 2021-2031
8.2.1.2.Market size analysis, by Construction Type, 2021-2031
8.2.1.3.Market size analysis, by Application, 2021-2031
8.2.2.UK
8.2.2.1.Market size analysis, by Material, 2021-2031
8.2.2.2.Market size analysis, by Construction Type, 2021-2031
8.2.2.3.Market size analysis, by Application, 2021-2031
8.2.3.France
8.2.3.1.Market size analysis, by Material, 2021-2031
8.2.3.2.Market size analysis, by Construction Type, 2021-2031
8.2.3.3.Market size analysis, by Application, 2021-2031
8.2.4.Spain
8.2.4.1.Market size analysis, by Material, 2021-2031
8.2.4.2.Market size analysis, by Construction Type, 2021-2031
8.2.4.3.Market size analysis, by Application, 2021-2031
8.2.5.Italy
8.2.5.1.Market size analysis, by Material, 2021-2031
8.2.5.2.Market size analysis, by Construction Type, 2021-2031
8.2.5.3.Market size analysis, by Application, 2021-2031
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Material, 2021-2031
8.2.6.2.Market size analysis, by Construction Type, 2021-2031
8.2.6.3.Market size analysis, by Application, 2021-2031
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness
8.2.7.2.Competition heatmap
8.3.Asia-Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Material, 2021-2031
8.3.1.2.Market size analysis, by Construction Type, 2021-2031
8.3.1.3.Market size analysis, by Application, 2021-2031
8.3.2.Japan
8.3.2.1.Market size analysis, by Material, 2021-2031
8.3.2.2.Market size analysis, by Construction Type, 2021-2031
8.3.2.3.Market size analysis, by Application, 2021-2031
8.3.3.India
8.3.3.1.Market size analysis, by Material, 2021-2031
8.3.3.2.Market size analysis, by Construction Type, 2021-2031
8.3.3.3.Market size analysis, by Application, 2021-2031
8.3.4.Australia
8.3.4.1.Market size analysis, by Material, 2021-2031
8.3.4.2.Market size analysis, by Construction Type, 2021-2031
8.3.4.3.Market size analysis, by Application, 2021-2031
8.3.5.South Korea
8.3.5.1.Market size analysis, by Material, 2021-2031
8.3.5.2.Market size analysis, by Construction Type, 2021-2031
8.3.5.3.Market size analysis, by Application, 2021-2031
8.3.6.Rest of Asia-Pacific
8.3.6.1.Market size analysis, by Material, 2021-2031
8.3.6.2.Market size analysis, by Construction Type, 2021-2031
8.3.6.3.Market size analysis, by Application, 2021-2031
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness
8.3.7.2.Competition heatmap
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Material, 2021-2031
8.4.1.2.Market size analysis, by Construction Type, 2021-2031
8.4.1.3.Market size analysis, by Application, 2021-2031
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Material, 2021-2031
8.4.2.2.Market size analysis, by Construction Type, 2021-2031
8.4.2.3.Market size analysis, by Application, 2021-2031
8.4.3.UAE
8.4.3.1.Market size analysis, by Material, 2021-2031
8.4.3.2.Market size analysis, by Construction Type, 2021-2031
8.4.3.3.Market size analysis, by Application, 2021-2031
8.4.4.South Africa
8.4.4.1.Market size analysis, by Material, 2021-2031
8.4.4.2.Market size analysis, by Construction Type, 2021-2031
8.4.4.3.Market size analysis, by Application, 2021-2031
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Material, 2021-2031
8.4.5.2.Market size analysis, by Construction Type, 2021-2031
8.4.5.3.Market size analysis, by Application, 2021-2031
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness
8.4.6.2.Competition heatmap
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.3M Company
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2.Atlas Roofing Corporation
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3. BASF SE
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4.Johns Manville
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.Duro-Last Inc.
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.E. I. Du Pont De Nemours, Inc.
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7.Owens Corning
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8.Sika AG
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9.Standard Industries Inc.
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.The Dow Chemical Company
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
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