The major factor driving the global roofing market growth is the growing construction industry, globally. Also, the increasing need for medical facilities, the latest hospitals, and senior living complexes due to the rising aging population is driving the market growth.
Key players such as Atlas Roofing Corporation, 3M, Dow Inc., Duro-Last, Inc, BASF SE, BMI Group, Johns Manville, Siplast, IKO Polymeric, and Godfrey Roofing Inc. are focused on research and development activities, and product innovation to gain a competitive edge in the market. North America region holds a dominant position in the roofing market.
Key Developments in the Roofing Market
In February 2019, the 3M Industrial Mineral Products Division introduced 3M Smog-reducing Granules to help remove smog pollution (nitrogen oxides or NOx) using roofing shingles. Integrated throughout a shingle’s surface, 3M’s roofing granules are designed with a specialized photocatalytic coating applied to the base mineral.
In July 2017, Duro-Last introduced the Duro-Shield line of products. The product is designed to enhance the performance of a variety of commercial roof types; Duro-Shield Coatings and Materials are available in Duro-Shield 10, Duro-Shield 20, and Duro-Shield 5.
Roofing Market Scope
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Report Metrics |
Details |
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CAGR |
5.3% |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (USD) |
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Segments Covered |
By Type, By Packaging Product, By Application and By Region |
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Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Market Share |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key insights. |
To get more insights into the Global Roofing Market Report – Click here
Roofing Market: Overview
Roofs maintain the structural integrity of buildings and also protect them from any external elements. Roofing is required in residential areas and the construction industry and professional roofing contractors provide the expertise and ensure proper installation techniques, quality materials, and adherence to building codes and regulations.
Roofing Market: Opportunities
Due to growing environmental concerns, there is an increasing demand for sustainable and energy-efficient roofing solutions. Moreover, integrating technology, such as advanced software for roof estimation, project management, and remote monitoring, can improve efficiency, accuracy, and customer experience in the roofing industry.
The above-mentioned factors present significant growth opportunities for the key players in the roofing market.
Roofing Market: Dynamics
The growing construction industry is driving the global roofing market growth. The construction industry grew to a spending value of close to US$ 12 trillion before the COVID-19 pandemic and is expected to grow by 3% per annum. This includes both residential and commercial real estate developments as well as utilities and industrial structures.
However, factors such as fluctuation in raw material prices, lack of skilled labor, and lack of awareness about safety are expected to restrain the market growth.
Roofing Market: Geographical Insights
The Asia Pacific region is witnessing huge demand for roofing services due to the growing construction industry and the rising population in the region. Moreover, in India, government flagship programs such as ‘Smart Cities,’ ‘Housing for All,’ ‘Make in India,’ and ‘Atal Mission for Urban Rejuvenation and Transformation (AMRUT)’ are expected to spur economic development. It is predicted that more foreign investment will be attracted due to these efforts and the government’s desire to expand public-private partnerships with foreign companies.
Table of Contents
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1 |
Report Methodology and Scope |
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2 |
Report Definition and Overview |
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3 |
Executive Summary |
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4 |
Market Dynamics |
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5 |
Industry Factors |
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6 |
COVID-19 Analysis |
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7 |
Roofing Market Segments and Region |
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8 |
Global Company Share Analysis – 10 Key Companies |
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9 |
Roofing Market Company and Product Profiles |
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10 |
About DataM |
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