Growth of the Roofing Market Driven by Innovation, Urbanization, and Sustainability

Growth of the Roofing Market Driven by Innovation, Urbanization, and Sustainability

 

According to Next Move Strategy Consulting, the global Roofing Market is predicted to reach USD 151 billion by 2030 with a CAGR of 4% from 2021-2030. Roofs are constructed using various materials including polycarbonate, bitumen, clay, sand, concrete, fiberglass, and ceramic-coated granules, each contributing to the durability and overall performance of the structure. Roofing not only protects but also enhances the aesthetic appeal of buildings, providing additional benefits such as air cooling, ventilation, and energy efficiency.

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Rising Demand for Advanced Roofing Solutions

The demand for roofing products is growing, driven by the availability of diversified and advanced solutions, including eco-friendly roofs, solar-friendly roofs, flat roofs, and metal roofing. Technological advancements in the construction industry and rapid urbanization are expected to further fuel the growth of the roofing market. The trend towards using clear roofing panels for patios and sunrooms is also gaining traction, allowing natural light to permeate interior spaces while providing protection.

Additionally, the use of corrugated roofing sheets, known for their strength, durability, and eco-friendliness, is expanding across industries, particularly in agriculture. These roofing solutions are finding widespread applications in garages, porches, and sheds, further contributing to the market’s growth.

Market Trends by Region

The Asia-Pacific region holds the largest share of the global roofing market and is expected to continue leading the market due to the rapid expansion of residential and commercial construction activities in countries like China, India, Indonesia, and Vietnam. China, in particular, stands as the biggest market leader, driven by rising income levels, urbanization, industrialization, and government investments in infrastructure.

North America is also witnessing steady growth, spurred by rapid urbanization, technological innovations, and a higher standard of living. In this region, new construction projects and building retrofitting activities are key drivers of demand. Meanwhile, the Middle East, particularly in countries like the UAE and Qatar, is showing promising growth as governments increase spending on commercial and industrial construction projects.

Leading Market Players

Key players in the roofing market include Atlas Roofing Corporation, CertainTeed Corporation, BMI Group Services GmbH, Carlisle Companies Inc., Duro-Last Inc., Etex SA, GAF Materials Corporation, and BASF SE. These companies are focused on innovation, research and development, and expanding their geographical reach.

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For example, in March 2020, GAF Energy launched a highly efficient roof-integrated solar product, which offers a 16% increase in power generation compared to standard solar-integrated roofs. Similarly, Atlas Roofing Corporation introduced the Storm Master Hip & Ridge shingle, which utilizes Core4 Enhanced Polymer Technology to provide superior strength, flexibility, and weather protection.

Conclusion

The roofing market is poised for significant growth, fueled by innovation in roofing materials and solutions, along with the increasing demand driven by urbanization, construction activities, and sustainability trends. The shift towards eco-friendly and solar-integrated roofing solutions is set to shape the market, offering opportunities for both manufacturers and consumers to benefit from improved energy efficiency and durability.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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