Roofing Market Size, Share & Analysis Report By Type (Asphalt Shingle Roofing, Metal Roofing, Tile Roofing, Others), By Application (Industrial, Residential) and Regional Forecasts, 2023 - 2032

Roofing Market is estimated to be worth USD 187.38 Billion in 2024 and is projected to grow at a CAGR of 5% between 2024 to 2032. The study has considered the base year as 2023, which estimates the market size of the market, and the forecast period is 2024 to 2032. The report analyses and forecasts the market size, in terms of value (USD Billion), for the market. The report segments the market and forecasts it by Type, by Application and by region/country.

Roofing is a very import part of any residency, giving them the protection from the external elements to ensure their significant longevity. Considering the major market growth drivers for the market, then it would be increasing commercial and residential constructions which will be growth drivers.  As these constructions are significantly increasing the demand for the roofing materials and the services are also increasing substantially. Even due to the existing renovations and replacements for the buildings are necessary due to the wear and tear within the roofs over time.

Due to the significant evolutions within the roofing industry the market has various types of the roofing systems to offer such as the asphalt shingle roofing, metal roofing’s, tiles roofing and others. Which offers their own respective advantages over other for different installation purpose.

After reviewing the data shown below, it can be determined that the Asia Pacific region dominates the Roofing Market for the following reasons.
The Asia Pacific Region is significant experiencing the market growth within the Roofing market due to the recent advancements of new urbanization and increase in population organically as well as due to migration. The level of urbanization within China has rapidly increased. Based on the National Statistics, the resident population within china’s cities and town was 813.47 million at the end of 2017, accounting for around 58.52% of the total population. The China’s migrant population as well as the increasing population within the region is the reason behind growth of the rapid development of urbanization. Based on the report published by the National Health and Family Planning Commission, the migrant population in 2017 was around 244 million, accounting for 17.55% of the total population.

Segmentations

By Type

Based on Type, the Roofing Market is bifurcated into Asphalt Shingle Roofing, Metal Roofing, Tile Roofing and Others– where Asphalt Shingle Roofing segment is dominating and ahead in terms of share. The Asphalt Shingle Roofing is significantly dominating the type segmentation within the Roofing Market. The Asphalt Shingle Roofing is easy to install and last longer than other roofing’s. And also being very cost effective than other roofing’s the Asphalt Shingles Roofing is dominating the Roofing Materials.

By Application

Based on Application, the Roofing Market is bifurcated into Residential, Industrial and Commercial– where Residential segment is dominating and ahead in terms of share.

Key Players

• Atlas Roofing Corporation
• Axter Ltd
• ARTWOOD SRL
• Carlisle Companies, Inc
• Agway Metals Inc.

Drivers

Due to Increasing Population within the Geographical Region
Due to the increasing population within the geographical region due to urbanization as well as the increasing number of migrants leads to the significant market growth. As the population increases within the urban areas, the housing demand increases substantially. The real estate sector is experiencing market growth which also propels the Roofing Market accordingly. These are the major market growth drivers for the Roofing Market.

Opportunity

Sustainability
The Roofing Market has open new market growth opportunity by focusing on sustainability of roofing. The growing environmental concerns are propelling the demand for the sustainable roofing material such as the metal based roofing. As the metal roofing being 100% recyclable, and last longer than the other roofing materials has increased the adoption rate too. And also the metal roofing is very suitable for the photovoltaic systems to be installed for solar power generation is also a key factor why metal roofing has more market growth opportunity than any other roofing materials.