Global Roofing Market - Industry Trends and Forecast to 2031

Global Roofing Market, By Type (Materials, Chemicals), Application (Residential, Commercial, Non-Residential, Others), Product (Asphalt Shingles, Concrete and Clay Tile Roof, Metal Roofs, Elastomers and Plastic Roofs, Tile Roofs, Bituminous Roof, Others) - Industry Trends and Forecast to 2031.

Roofing Market Analysis and Size

The roofing market is used in urban development projects, where roofing materials are utilized to enhance the functionality and aesthetics of buildings while also contributing to the overall urban landscape. In the agriculture sector, roofing plays a crucial role in protecting crops and livestock from adverse weather conditions, providing shelter and maintaining optimal environmental conditions for agricultural activities. Moreover, the roofing market serves the infrastructure sector by providing materials for the construction of transportation hubs, warehouses, and public facilities, ensuring structural integrity and safety for these essential societal assets.

Global roofing market size was valued at USD 120.24 billion in 2023 and is projected to reach USD 184.53 billion by 2031, with a CAGR of 5.50% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Roofing refers to the construction and installation of materials onto the roof of a building to provide protection from weather elements such as rain, snow, wind, and sunlight. It involves the use of various materials such as asphalt shingles, metal panels, clay or concrete tiles, and synthetic membranes, depending on factors such as climate, building design, and budget. Proper roofing is crucial for maintaining the structural integrity of a building, preventing water leakage, insulating against heat loss or gain, and enhancing aesthetic appeal. Roofing contractors specialize in the installation, repair, and maintenance of roofs to ensure durability, safety, and functionality of buildings.

Roofing Market Dynamics

Drivers

• Rising Environmental Awareness Leads to the Increasing Demand for Sustainable Roofing Options

As consumers and businesses increasingly prioritize sustainability and energy efficiency it led to the adoption of eco-friendly roofing solutions such as green roofs, solar roofing, and cool roofing technologies. Green roofs, which incorporate vegetation and landscaping, offer benefits such as improved air quality, storm water management, and urban heat island mitigation. Solar roofing integrates photovoltaic technology to generate renewable energy, reducing reliance on traditional power sources and lowering carbon emissions. Cool roofing materials reflect sunlight and heat away from buildings, reducing energy consumption for cooling and mitigating the urban heat island effect. As environmental concerns continue to grow, demand for these sustainable roofing options is expected to rise, driving market growth and innovation in eco-friendly building practices.

• Rising Technological Advancements Provide Solutions to Fulfil Consumers’ Evolving Preferences

Innovations in materials science, manufacturing processes, and roofing systems have led to the development of more durable, energy-efficient, and environmentally friendly roofing solutions. Advanced materials such as synthetic membranes, cool roofing coatings, and photovoltaic-integrated roofing tiles offer enhanced performance and longevity while meeting sustainability goals. As consumers increasingly seek innovative and high-performance roofing options, technological advancements continue to drive market growth by providing solutions that address evolving needs and preferences.

For Instance,

According to an article in ROOFINGMAGAZINE, Smart roofs, influenced by technological advancements, integrate sensors for leak detection and ventilation systems, enhancing functionality and durability. The inclusion of power and exhaust fans in commercial properties showcases a commitment to energy efficiency. Although less prevalent than other innovations such as drones, the ongoing development of smart roof technology promises to meet evolving consumer needs and sustainability goals.

Opportunities

• Changing Weather Conditions Results in Growing Need for Resilient Roofing Solutions

Severe weather events such as hurricanes, hailstorms, and heavy snowfall can cause substantial damage to roofs, leading to increased demand for repair and replacement services. Climate variability, including temperature fluctuations and extreme weather patterns, influences the selection of roofing materials with specific performance attributes such as durability, resistance to wind uplift, and thermal insulation. As climate change intensifies, with potential increases in the frequency and severity of extreme weather events, there is a growing need for resilient roofing solutions designed to withstand adverse weather conditions, driving innovation and investment in the roofing market.

• Rapid Urbanization Leads to the Expansion of Roofing Solutions

As more people migrate to urban areas, there is a heightened demand for residential, commercial, and industrial buildings, all of which require roofs. Rapid urbanization often leads to new construction projects and urban redevelopment initiatives, driving the need for roofing materials and services. This trend also fosters opportunities for innovative roofing technologies that cater to the specific needs of densely populated urban environments, such as green roofs for urban heat island mitigation or solar roofs for renewable energy generation in crowded spaces. Urbanization and population expansion serve as catalysts for sustained growth and expansion within the roofing market.

 Restraints/Challenges

• Increasing Economic Fluctuations Impacts Demand for Construction Projects

During economic downturns, reduced consumer confidence and investment in real estate lead to decreased construction activity, slowing down the demand for new roofs or renovations. This cyclicality affects roofing manufacturers, contractors, and suppliers, creating challenges in maintaining consistent revenue streams and profitability. Moreover, uncertainties in the economy can deter potential buyers from committing to large-scale roofing projects, further exacerbating the market's volatility. Consequently, the roofing industry must adapt strategies to navigate through economic cycles and mitigate the adverse effects of fluctuating market conditions.

• Rising Lack of Skilled Workers Limits Roofing Solutions

As experienced roofers retire or leave the industry, there is a shortage of new talent entering the field. This scarcity of skilled workers leads to delays in project timelines, increased labor costs, and potential compromises in the quality of roofing installations. The complexity of modern roofing systems requires specialized training, exacerbating the challenge of finding qualified personnel.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development s

• In January 2024, Bessemer Investors' Legacy Restoration forms a strategic collaboration with Southern Roofing and Renovations, likely aiming to expand market reach or enhance service offerings in the roofing industry
• In May 2023, Ruukki, a Finnish company, launches the innovative Pohjalainen roofing sheet, indicating a significant development in roofing technology or design, potentially offering improved performance or aesthetics for customers in Finland and beyond
• In February 2023, Holcim announces the acquisition of Duro-Last Roofing Systems for $1.3 billion, suggesting a strategic move to strengthen its position in the roofing market. Duro-Last's specialized systems are expected to complement Holcim's existing roofing portfolio, potentially enhancing its capabilities and market competitiveness

Roofing Market Scope

The market is segmented on the basis of type, application and product. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Materials
• Chemicals

Application

• Residential
• Commercial
• Non-Residential
• Others

Product  

• Asphalt Shingles
• Concrete and Clay Tile Roof
• Metal Roofs
• Elastomers and Plastic Roofs
• Tile Roofs
• Bituminous Roof
• Others

Roofing Market Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, application and product as referenced above.

The countries covered in the market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific dominates the market forecast due to rapid industrialization, urban expansion, and population growth. This surge has driven demand for both commercial and residential infrastructure, necessitating extensive roofing solutions. With burgeoning urban centers and a growing middle class, the region sees substantial investments in construction projects, further propelling the roofing market forward. Additionally, factors such as modernization initiatives and infrastructure development schemes contribute to the region's dominance in this sector.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Roofing Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Owens Corning (U.S.)
• Duro-Last Roofing, Inc. (U.S.)
• BASF SE (Germany)
• 3M (U.S.)
• Dow (U.S.)
• DuPont (U.S.)
• Braas Monier Building Group (Luxembourg)
• Sika AG (Switzerland)
• Atlas Roofing Corporation (U.S.)
• Innospec (U.S.)
• ADEKA CORPORATION (Japan)
• Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)
• PMC Specialties Group (U.S.)
• Afton Chemical (U.S.)
• The Lubrizol Corporation (U.S.)
• Clariant (Switzerland)
• LANXESS (Germany)
• Mayzo, Inc. (U.S.)
• Solvay (Belgium)
• Akzo Nobel N.V. (Netherlands)
• Arkema (France)
• Eastman Chemical Company (U.S.)