Global Steel Roofing Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Global Steel Roofing Market Overview

The global Steel Roofing market was valued at US$ 2.62 billion in 2020, and is projected to grow at a CAGR of 6%.

Steel is a metal that does not rust or corrode, which makes it ideal for a roofing material. Roofs have been constructed from steel since the late 1800's and it has been used in many different ways because of its durability. Steel is more affordable than copper, zinc, and aluminum because it doesn't require as much maintenance to keep the surface from corroding. It can also be recycled indefinitely so it is environmentally friendly.

A recent survey by the National Association of Home Builders found that steel roofing costs half as much as asphalt shingles over the life of the roof. This means that homeowners can save significantly in both upfront and ongoing expenses. With steel roofs, there is also no need for annual maintenance, which is an additional cost-saving factor to consider. Installing a steel roof can increase property value, decrease noise levels, and generally improve the look of your home.

Homes with a steel roof will last twice as long, or about 50 years, as homes with asphalt shingles. Steel roofs are a good idea for homeowners with extreme weather patterns and heavy snowfalls because they can withstand more weight and don't need to be replaced as often.

It is no surprise that steel has been used in construction for a long time. There are many benefits to using steel over other materials in construction, and there can be various reasons for going with steel. Among the advantages of steel roofing, the cost is a big one because it is cheaper than other roofing options. Steel roofing is also durable and will last a long time, so if you can afford it, this option may be worth looking into.

The global Steel Roofing market is segregated into types, applications, and regions. Based on type, the global Steel Roofing market is sub-segmented into color-coated roofing sheets, galvanized sheets, curving sheets, tile roof sheets, and other types. Concerning application, the global Steel Roofing market is distributed in residential, commercial, and industrial. Based on region, the global Steel Roofing market is sub-segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Significant Growth Of The Construction Industry

Steel roofing has been a staple in residential and commercial construction for over 100 years and is the perfect option for homeowners with high-pitched roofs. Steel roofing can be installed quickly and easily, making it an ideal solution for any quick fix or project. Steel roofing comes in many styles, colors, and finishes that suit any building's aesthetic design.

An Increase In The Usage Of Eco-Friendly Roofing Materials In End-Use Industries

Steel is the most recycled metal in the world, and based on life-cycle assessments; steel roofing has a lower environmental impact relative to asphalt shingle roofing. The steel industry takes sustainability seriously and is committed to continuous improvement concerning resource conservation and emissions reduction. Shingles are made of petrochemicals that, when produced, used, and disposed of, generate emissions that can harm our health and environment.

High Installation Cost Of Steel Roofing

Steel roofing is expensive to install for a variety of reasons. Steel roofing can be costly to purchase as well as difficult and costly to transport. The weight of the metal, combined with the installation cost, means that steel roofs often require several specialists to complete the installation. The cost may also be prohibitively high to justify replacing an old roof with a steel one.

The Requirement Of The Timely Maintenance, Due To Its Corrosive Properties Of Steel

The requirement for timely maintenance is costly due to the corrosive properties of steel. The corrosion process, which is the reactions of oxygen and water with metal to form rust, will commonly occur on iron or other ferrous metals. When this happens, the metal will weaken, and it can even be dissolved. This is a costly procedure because repairs are needed to maintain the structure's integrity, so it doesn't collapse.

COVID-19 Impact on Construction Industry

The construction industry has been affected by the COVID-19 pandemic, which is sensitive to the ups and downs of overall economic conditions. Yet, from a positive standpoint, construction holds great potential to stimulate recovery, given its huge potential to generate jobs. In turn, recovery prospects can aid business regeneration towards sustainability and digitalization. A three-way collaboration plan incorporating social dialogue, differences in labor legislation, and international work safety practices are best suited to ground company sectors from the catastrophe.

Regional Analysis

The global steel roofing market is segmented into

Markets in Europe are anticipated to account for the largest share in terms of consumption and output, followed by markets in the Asia Pacific region. The Asia Pacific is projected to witness significant growth attributing to the growing development of infrastructure in the commercial and industrial sectors, particularly in developing nations like India and China.

 Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Global Steel Roofing Market Key Players

Some of the key players include

• Fletcher steel limited
• Fabral
• Corner stone building brands
• Bilka
• Tata steel euroep ltd
• Certaineed
• Atas international
• EDCO products
• Chief industries
• Mcelroy metals
• Other Key Players

Global Steel Roofing Market Segmentation

Type

• Color coated Roofing Sheets
• Galvanized Sheets
• Curving Sheets
• Tile Roof Sheets
• Other Types

Application

• Residential
• Commercial
• Industrial