Roofing Market to Touch Approximately USD 1.57 Billion by 2030 – Report by Market Research Future (MRFR)

Roofing Market Research Report Information by Roofing (Asphalt, Tiles, Metal, Concrete, and Others), by Application (Commercial, Residential, and Industrial), by Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

New York (US), May 19, 2023 (GLOBE NEWSWIRE) -- Roofing Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Roofing Market Information by Roofing Type, Application, and Region - Forecast till 2030”, Roofing Market could thrive at a rate of 4.85% between 2021 and 2030. The market size will be reaching around USD 1.57 Billion by the end of the year 2030.

Market Synopsis

Roofing refers to the process of constructing, repairing, or replacing the roof of a building or structure. The roof is an essential part of any building, as it protects against weather elements such as rain, snow, and wind. Roofing involves the installation of roofing materials, such as shingles, tiles, metal sheets, or membranes, to create a weatherproof and durable covering for the building. The roofing process also includes the installation of insulation, ventilation, and waterproofing materials to ensure that the roof is energy-efficient, well-ventilated, and resistant to water damage. Proper roofing is crucial for the longevity, safety, and comfort of any building, and it requires skilled professionals with expertise in roofing materials, construction techniques, and safety regulations.

Roofing finds its application in residential, commercial, and industrial sectors. Residential roofing is typically used for houses and apartments, while commercial roofing is used for offices, retail stores, and other commercial buildings. Industrial roofing is used for warehouses, factories, and other industrial buildings.

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Market Competitive Landscape:

The affluent companies in the Roofing industry include

  • Atlas Roofing Corporation
  • Owens Corning
  • Sika AG
  • Duro Last Roofing Inc
  • GAF Energy
  • Braas Monier Building Group
  • 3M Company
  • Dow Chemical Company
  • Among others.

Report Scope:

Report Attribute Details
Market Size USD 1.57 billion
CAGR 4.85% CAGR (2022-2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2019 & 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Roofing, Application
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Growth of the building & construction industry and the improvement in financial conditions  Rapid growth of the real estate industry in developing regions  Increasing population and a growing number of foreign nationals

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April 2021

GAF Energy by Generac Holdings announced its acquisition will enable Generac Holdings to expand its presence in the solar roofing market.

Market USP Covered:

Market Drivers:

The roofing market is a dynamic industry that is influenced by various factors that shape its growth and development. One of the primary drivers of the roofing market is the growth of the construction industry. With the growing population and urbanization, the demand for housing, commercial buildings, and industrial spaces is on the rise, leading to an increase in construction activities. As a result, there is a growing need for high-quality roofing materials that can provide durability and longevity to buildings.

Another significant driver of the roofing market is the rise in demand for energy-efficient roofing materials. With the growing concern about environmental sustainability, there is an increasing demand for roofing materials that can reduce energy consumption and help reduce carbon emissions. Energy-efficient roofing materials, such as cool roofs, solar panels, and green roofs, are becoming popular as they help reduce energy costs, enhance the thermal performance of buildings, and improve indoor air quality.

In addition to energy efficiency, the adoption of green roofing technologies is also driving the growth of the roofing market. Green roofs are gaining popularity as they provide several benefits, such as reducing the urban heat island effect, improving air quality, and providing natural insulation. The increasing awareness about the benefits of green roofs has led to their adoption in various buildings, including commercial and residential buildings.

Market Restraints:

However, the roofing market is also restrained by factors like the high cost of installation and maintenance, the lack of skilled labor, and stringent government regulations related to environmental concerns.  

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COVID 19 Analysis

The COVID-19 pandemic has brought about unprecedented changes in the roofing market, with a significant impact on the construction industry. The pandemic led to a decline in construction activities worldwide, as many countries implemented lockdown measures to curb the spread of the virus. The restrictions on movement, closure of construction sites, and disruption of supply chains led to a significant reduction in demand for roofing materials. The roofing market witnessed a decline in sales, with many projects either postponed or canceled due to the economic slowdown. However, with the gradual lifting of lockdown measures and the resumption of construction activities, the roofing market is expected to recover in the post-COVID scenario. The demand for roofing materials is expected to increase as construction activities resume. The shift towards green building practices and the adoption of energy-efficient roofing materials are also expected to drive the growth of the roofing market in the post-pandemic era.

Market Segmentation

By Roofing Type

The Roofing Type in the market includes Asphalt, Tiles, Metal, Concrete, and Others.

By Application

The Application in the market includes Commercial, Residential, and Industrial.

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Regional Insights

In terms of regional analysis, North America, Europe, and Asia Pacific are the top three regions for the roofing market. North America is expected to dominate the market due to the growing demand for energy-efficient roofing materials and the increasing focus on sustainable building practices. Europe is also expected to witness significant growth due to the rising adoption of green roofing technologies, while the Asia Pacific region is expected to experience growth due to the increasing investment in infrastructure development and the growing construction industry.

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