Roofing Market is Projected to Showcase Significant Growth Globally in Coming Years 2021-2025

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Longevity, and Versatility of Applications Dictate Roofing Material Preferences

The global roofing installation surpassed the volume of 11 billion sqm in 2018 owing to a broad range of roofing applications. While clay, metal, asphalt shingles, fibre cement, concrete tiles, slate, rubber, and plastic have conventionally been the popular roofing materials, a new upcoming study of Fairfield Market Research suggests that concrete tiles, and clay are witnessing greater preference over other roofing material counterparts on the back of their superior aesthetics, and endurance in addition to the benefit that they typically require low maintenance costs. Asphalt shingles also have been extensively used by the building and construction industry owing to their versatility of application, cost competitiveness, and elegant aesthetics. With a number of new construction projects, as well as building or residential renovation activities in progress, asphalt shingles, metals, and tiles will see continued adoption in the global roofing market, states the report.

Opportunities Abound in Developing Economies

The demand patterns in the roofing market vary from region to region, and at a domestic level as well. Community preferences, climatic conditions, material and aesthetic preferences, range of affordability, and popular methods of construction are some of the key factors governing the choice of roofing materials in any domestic, or regional market. North America, particularly the US, continues to show preference for asphalt shingles, research indicates that dimensional asphalt shingles are gaining strong ground in the region. On the other hand, Asia Pacific, the global leader in roofing installations, prefers metal roofing over other materials. Shifting aesthetic tastes of the evolving regional population is giving rise to innovative material launches in the market. The Middle Eastern and African economies also present lucrative opportunities for companies in the roofing market, as per the report findings so far.

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Environmentally-sustainable Roofing Systems Picking up as a Key Trend among Manufacturing Companies

With the growing realisation of the significance of eco-friendly roofing systems. While this would enable companies to comply with evolving industry demands, they would also be able to achieve an edge in terms of product differentiation. Cost competitiveness will be an additional imperative for market leaders. Recognised green building rating systems and certifications such as the German Sustainable Building Council (DGNB), Building Research Establishment Environmental Assessment Method (BREEAM), and Leadership in Energy and Environmental Design (LEED), have been stimulating the launches of innovative roofing materials and green roofing solutions in the market to attain desired functionality with respect to energy efficiency. Some of the most prominent players actively participating in the global roofing market include Saint-Gobain, Atlas Roofing Corporation, Brass Monier Building Group, Owens Corning, Beacon Roofing Supply, Inc., Etex, Wienerberger AG, Carlisle, and Duro-Last, Inc.

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