The United States roofing
material market is expected to reach USD 29
billion by 2034, growing at a compound annual growth rate
(CAGR) of 3.4% from 2024 to 2034. This growth is driven by the
increasing demand for bituminous roofing.
NEWARK, Del., June 24, 2024 /PRNewswire/ -- The global
roofing material market size reached USD 141.1 billion in 2023. Over the forecast
period 2024 to 2034, sales are anticipated to rise at 4.6%
CAGR. The total market value is predicted to increase from
USD 147.1 billion in 2024 to
USD 231.1 billion by 2034.
Advances in technology have transformed the industry with the
introduction of durable and weather-resistant materials such as
composite shingles. Integrating smart technology into roof systems,
including sensors for leak detection and energy monitoring,
increases productivity and efficiency.
North America has a strong
construction industry supported by steady economic growth,
particularly in the United States
and Canada. Roofing solutions are
required due to high demand from residential, commercial, and
industrial sectors.
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Technological innovations in materials science and architectural
construction have resulted in the development of more efficient
roofing solutions for specific needs. The construction industry in
North America is subject to
stringent building codes aimed at ensuring safety, sustainability,
and energy efficiency. These codes mandate the use of quality
roofing materials that meet or exceed industry standards.
Attributes
|
Description
|
Estimated Global
Roofing Material Market Size (2024)
|
USD 147.1
billion
|
Projected Global
Roofing Material Market Value (2034)
|
USD 231.1
billion
|
Value-based CAGR
(2024 to 2034)
|
4.6 %
|
Key Takeaways from the Roofing Material Market Report
- Sales of roofing materials grew at a CAGR of 2% between
2019 and 2023.
- Chile and ASEAN are set to
record high CAGRs of 7.6% and 5.4%, respectively,
through 2034.
- The residential segment is anticipated to be lead-based on
end-use, showcasing a 4.4% CAGR between 2024 and 2034.
- By product type, the metal roofing segment is forecast to
thrive at 5.5% CAGR through 2034.
- The United States roofing
material industry is projected to reach USD 29 billion by 2034.
"The roofing material market is poised for significant
growth, driven by increasing construction activities across the
globe. Rising demand for energy-efficient roofing solutions is also
set to aid growth. Innovations, such as advanced composite
materials, are reshaping the market scenario." -
Says Nikhil Kaitwade, Associate
Vice President at Future Market Insights (FMI).
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Competitive Landscape
Key players operating in the global roofing material market are
investing in unique facilities and entering into partnerships. A
few roofing material manufacturers are acquiring small-scale
companies to broaden regional presence.
For instance,
- In March 2024, PABCO Roofing
Products, headquartered in the United
States, started shipping the latest version of ridge cap
called Shadow Cap Wide. This would act as the ideal shingle option
for vented ridge, color matching, and coverage applications.
Leading Roofing Material Market Players
- CertainTeed
- Mapei SpA
- Braas Monier Building Group
- Atlas Roofing Corporation
- ETEX
- Carlisle Companies Inc.
- IKO Industries Inc.
- TAMKO Building Products
- Alumasc Group PLC
- DECRA Roofing Systems Inc.
- Bauder Ltd.
- Worthouse
- Carlisle Companies Inc.
- ETEX
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By Product Type:
A few leading product types include asphalt shingles, concrete
tiles, clay tiles, synthetic tiles, metal roofing, membrane
roofing, green roofs, and others.
By End-use:
Two key end-uses include residential and non-residential. Both
segments are bifurcated into new construction and renovation.
By Region:
North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East Africa
Get More Insights into the Roofing Material Market
Report
In its latest report, Future Market Insights (FMI) offers an
unbiased analysis of the global roofing material industry,
providing historical data from 2019 to 2023 and forecast statistics
for the period 2024 to 2034. To understand the global market
potential, growth, and scope, the market is segmented into product
type, end-use, and region.
About the Chemicals and Materials Division at Future Market
Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the
chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced
materials, composites, and nanotechnology in particular, with
special emphasis on 'green alternatives, recycling and renewable
technology developments, and supply-demand-trade assessment. Our
research studies serve as referencing market guidelines for
chemical manufacturers, research institutions, channel partners,
and government bodies for developing – 'The Way
Forward'.
Author
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports of Chemicals
& Materials
The roofing chemicals market size is projected to be
valued at USD 253.90 Million in 2022
and is expected to rise to USD 117.60
Million by 2032.
Asia Pacific waterproofing
chemicals market size reached USD 363.1
million in 2018. The market is projected to top USD 1,223.1 million by end of 2033, representing
9.6% CAGR in the evaluation period between 2023 and 2033.
The global tile adhesive market is expected to attain
a valuation of USD 2.67 billion in
2023 and is projected to reach USD 5.2
billion by 2033, trailing a CAGR of 6.9% during the forecast
period.
Sales of the USA and
Canada pre-painted steel roofing
and cladding market are expected to expand at a CAGR of 4.6% and to
top a valuation of USD 2,756.0
Million by 2032.
The global construction polymer market is projected to
attain a valuation of USD 244.7
billion in 2023 and is estimated to reach USD 472.4 billion by 2033 while exhibiting a CAGR
of 6.8% during the forecast period.
The global sales of construction textiles are estimated to be
worth USD 2471.2 million in 2024 and
are anticipated to reach a value of USD
5850.3 million by 2034. Sales are projected to rise at a
CAGR of 9% over the forecast period between 2024 and 2034.
The veneer sheets market size is estimated to be
valued at USD 42 billion in 2023 and
is expected to be valued at USD 55
billion by 2033. The adoption of veneer sheets is likely to
advance at a CAGR of 2.7%.
The global construction fabric market size reached USD 17,541.2 million in 2023. Over the forecast
period, demand is anticipated to rise at 4.6% CAGR. Total industry
value is predicted to increase from USD
18,267 million in 2024 to USD
28,761.2 million by 2034.
Over the assessment period 2023 to 2033, global teak decking
sales are projected to record 4.6% CAGR. Revenue is set to reach
USD 1,366.1 million by 2033 end.
The construction aggregates market is anticipated to expand at a
CAGR of 4.86% between 2023 and 2033, totaling around USD 636.46 billion by 2033.
About Future Market Insights (FMI)
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