What Has Driven the Growth of the Roofing Market in Recent Years?
The roofing market has seen considerable growth due to a variety of factors.
• Over the past several years, there's been a consistent growth trend in the roofing market. The market, which was valued at $304.3 billion in 2024, is projected to increase to $318.4 billion in 2025, with compound annual growth rate (CAGR) of 4.6%.
The notable increase during the previous years can be tied back to expansion in construction and real estate sectors, evolving urbanization trends, changes in climate and weather patterns, shifts in architectural designs and trends, along with the necessity of maintenance and replacement.
What are the Market Size and Expected Growth Rates for the Roofing Market?
The roofing market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, a consistent growth is anticipated in the roofing market size, aiming to reach a value of $370.41 billion in 2029 with a compound annual growth rate (CAGR) of 3.9%.
The expansion during the forecast period can primarily be credited to sustainable and ecological friendly maneuvers, tolerance to harsh weather phenomena, novel developments in roofing materials, essentialities for energy efficiency, legislative procedures and building guidelines. Significant trends for the forecast period incorporate personalization and visual trends in roofing design, implementation of ecologically friendly roofing methodologies, transition towards lightweight and unit-based roofing remedies, focus on weather-enduring coatings and sealing products, and the infusion of technology in the installation and upkeep of roofing.
Which Factors Are Boosting Growth In The Roofing Market?
The escalating advancement in infrastructure is set to drive the expansion of the roofing industry. When speaking of infrastructure, this involves the establishment of physical structures such as roads, bridges, highways, and sewage systems. Each construction project necessitates the use of roofing since it serves to safeguard the building against various climatic conditions like rain, sunlight, wind, extreme temperatures and snow. For instance, data from June 2024 provided by TST Europe AG, a machinery parts manufacturing firm based in Switzerland, shows that the total expenditure on infrastructure construction in the United States in 2022 amounted to $1.84 trillion. This number saw an increase of 7.4% that rose to $1.98 trillion in 2023. Therefore, the surge in infrastructure development is a key factor that drives the growth of the roofing industry.
How Is The Globa Roofing Market Divided Into Key Segments?
The roofing market covered in this report is segmented –
1) By Type: Flat Roof, Slope Roof
2) By Roofing Material: Bituminous Roofing, Metal Roofing, Tile Roofing, Other Roofing Materials
3) By Application: Residential, Commercial, Non-Residential
Subsegments:
1) By Flat Roof: Built-Up roofing (BUR), Modified Bitumen Roofing, Single-Ply Roofing (TPO, PVC, EPDM)
2) By Slope Roof: Asphalt Shingles, Metal Roofing, Tile Roofing, Wood Shakes And Shingles, Slate Roofing
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What Trends Are Reshaping The Roofing Market?
In the roofing market, the prominence of new technological advancements is a notable trend. Major players in this industry are focusing on these innovations to foster their market growth. An instance of this is GAF, a U.S. firm specializing in solar roof production, who in January 2022, introduced their latest solar roof known as Timberline Solar, developed via solar roof technology. This technology harnesses sunlight to generate power that can be utilized for home use. It's not just simple to install but also extremely cost-effective. Solar roofs stand as the forthcoming era of clean energy with Timberline Solar being a radical innovation in this market.
Who Are the Key Players in the Roofing Market?
Major companies operating in the roofing market include:
• Hindalco Industries Ltd.
• ABC Roofing Company Inc.
• Owens Corning
• Carlisle Companies Inc.
• Etex SA
• GAF Materials Corporation
• CertainTeed Corporation
• BMI Group Services GmbH
• Atlas Roofing Corporation
• Tamko Building Products Inc.
• Duro-Last Inc.
• Best Roofing Services Corp.
• Apex Roofing Contractors Ltd.
• Champion Roofing & Construction Inc.
• Bob's Roofing & Repair Inc.
• Clear Choice Roofing Corp.
• Braas Monier Building Group Services S.A.
• Acme Roofing Solutions LLC
• Dependable Roofing & Sheet Metal Ltd.
• Eagle Roofing Company Inc.
• Elite Roofing Specialists LLC
• Excel Roofing Contractors Corp.
• First Choice Roofing Services Inc.
• Five Star Roofing Company LLC
• Golden Eagle Roofing & Construction Corp.
• Guardian Roofing & Repair Ltd.
• Hamilton Roofing Specialists Inc.
• Integrity Roofing & Siding LLC
• J&J Roofing Contractors Corp.
• Keystone Roofing & Construction Inc.
• Knight Roofing Services LLC
• Precision Roofing & Construction Ltd.
• Pro Roofing Specialists Inc.
What are the Regional Insights into the Roofing Market?
Asia-Pacific was the largest region in the roofing market in 2024. The regions covered in the roofing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
