Global Roofing Materials Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Roofing Materials Market Overview:

The Roofing Materials Market was valued at $21.40 million in 2021 & is projected to reach $54.52 million by 2027. It is expected to grow at a 12.4% CAGR between 2021 and 2027.

The Roofing Materials Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The Roofing Materials Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global roofing materials market report has been segmented on the basis of product type, application, and region.

Roofing material is an additional layer on the roof of a building, which is supported by a basic building structure.

This layer of a roof comes with variations in design depending upon materials, performance, economic reasons, aesthetics, and the nature of the supporting structure.

These types of roofing materials are commercially available in various forms, namely natural products such as slate and thatch and commercial products such as polycarbonate and tiles sheeting.

The global roofing materials market is primarily driven by increasing investments in the construction sector, especially for the construction of new commercial buildings such as shopping malls and hotels.

In addition, growth in renovation activities is another major factor projected to drive the growth of the target market.

The development of energy-efficient roofs and increasing adoption of eco-friendly materials for the roofing of commercial and residential infrastructures are some additional factors driving the growth of global roofing materials market.

People's rising standard of living and urbanization are expected to result in an increasing number of construction projects. This is further foreseen to drive demand for roofing materials, thereby driving the growth of the global market during the forecast period.

Increasing demand for affordable houses is also estimated to contribute to the target market growth in the next eight years.

The increasing urban population is also expected to attract huge investments by governments for the development of commercial and residential buildings in emerging economies such as China, India, and Nigeria.

However, the high initial cost is a major factor expected to hamper the growth of the global roofing materials market.

Asia Pacific market is expected to dominate the global roofing materials market, followed by the North America and Europe regions.

Asia Pacific market is estimated to grow at the highest CAGR, owing to increasing expansion in the construction of new commercial and residential buildings in countries in this region, which is expected to impact on demand for roofing materials positively in countries in this region, mainly from emerging economies such as India and China.

North American market is expected to be the second-highest market owing to increasing residential construction activities in countries in this region.

Global Roofing Materials Market Segmentation:

Segmentation by product type:

• Tile roof
• Metal roof
• Plastic roof
• Asphalt shingles

Segmentation by application:

• Residential
• Commercial
• Non-Residential

 Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa