Valued to be $96.2 Billion by 2026, Roofing Slated for Robust Growth Worldwide

Valued to be $96.2 Billion by 2026, Roofing Slated for Robust Growth Worldwide

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Edition: 17; Released: February 2022
Executive Pool: 13743
Companies: 128 – Players covered include American Hydrotech, Inc.; Atlas Roofing Corporation; Carlisle Construction Materials LLC; Cornerstone Building Brands; Duro-Last Roofing, Inc.; Etex Group SA; Firestone Building Products; Fletcher Insulation; IKO Industries, Ltd.; Johns Manville; Masterplast Group International; Nucor Building Systems; Owens Corning; Rockwool International A/S; Saint-Gobain SA; CertainTeed Corporation; Sika AG; Sika Sarnafil, Inc.; Standard Industries, Inc.; BMI Group; Braas Monier Building Group S.A.; BMI UK & Ireland; GAF; TAMKO Building Products, Inc.; The Garland Company, Inc.; USG Boral; Wienerberger AG; Xtratherm Limited and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Asphalt Shingles, Metal, Elastomeric, Built-Up, Roofing Tile, Modified Bitumen, Plastic, and Other Product Types)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Roofing Market to Reach $96.2 Billion by 2026
Roofing was and continues to represent a perennial need in residential and non-residential buildings offering fundamental protection against natural elements such as sun, wind, rain and other weather conditions. A high quality roof is an important feature for the best functioning of a house. A good roof could last for more than 25 years, and the increasing construction opportunities in the roofing industry along with timely repairs and replacements could make the roof profitable year after year. A wide variety of materials are used in roofing construction for residential and non-residential sectors. The global market for roofing is expected to display a consistent rate of growth, backed by trends in the construction industry. Developing countries in particular are positioned to witness healthy growth in construction activity, as regional governments focus efforts on improving infrastructure facilities and providing housing facilities to all citizens. Rapid pace of urbanization and industrialization are also propelling demand for residential infrastructure and commercial projects, thus paving the way for higher use of roofing materials. Growth opportunities in developing regions are encouraging several leading construction companies and roofing product vendors to focus efforts on expanding operations in the regions. While residential and non-residential projects are fueling demand for roofing materials in emerging markets, the focus on remodeling and repair works is stimulating roofing market growth developed region. Technology advancements and development of novel products also presents significant growth opportunity for the roofing market.

Amid the COVID-19 crisis, the global market for Roofing estimated at US$78 Billion in the year 2022, is projected to reach a revised size of US$96.2 Billion by 2026, growing at a CAGR of 3.7% over the analysis period. Asphalt Shingles, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$31.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metal segment is readjusted to a revised 4.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $18 Billion in 2022, While China is Forecast to Reach $20.4 Billion by 2026
The Roofing market in the U.S. is estimated at US$18 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.4 Billion by the year 2026 trailing a CAGR of 5.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR. Roofing market in developing economies is being supported by the stable construction activity on account of healthy gains in GDP growth, growing population, rising disposable incomes of an expanding base of middle class population, availability of capital and natural resources, and increasing levels of urbanization, among others. Developed markets of North America and Europe are mature, whereby demand for roofing materials is progressing at a slow rate. Rebound in construction and industrial activity and increasing government focus on reducing energy consumption and implementation and adoption of new building codes requiring energy efficient roofing materials will favor market growth.

Elastomeric Segment to Reach $6.2 Billion by 2026
In the global Elastomeric segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.4 Billion will reach a projected size of US$4.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026, while Latin America will expand at a 3% CAGR through the analysis period.
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