Roofing Market Overview

 

A roof is a structure forming the upper covering of a building or other shelter. Its primary purpose is generally to provide protection against rain, snow, sunlight, wind, and extreme temperatures. It may also contribute to safety, security, privacy, and insulation. Roofs have been constructed in a wide variety of forms flat, pitched, vaulted, domed, or in combinations as dictated by technical, economic, or aesthetic considerations. Roofs might contain openings or windows to bring light into buildings, as well as allow for access, ventilation, and scenic views. Different types of materials and shapes are used to build roofs depending on the specific needs, climate, materials, skills, and span to be covered.

 

The roofing Market experiencing significant growth of XX% every year and is expected to continue its growth during the forecast period. Owens Corning, GAF Inc., CertainTeed LLC, and Johns Manville are well-established players in the Roofing Market. Owens Corning is a global leader in the Roofing Market which offers a broad portfolio of roofing solutions, including asphalt shingles, composite shingles, roofing underlayment, and components products. Owens Corning took an important step toward reaching its circular economy aspiration with the announcement of enhanced shingle recycling efforts. By 2030, the company intends to recycle two million tons of shingles per year in the U.S. North America region held the dominant segment in the Roofing Market in 2023.

 

The Roofing Market is mainly driven by the rapid expansion of e-commerce warehousing construction and Industrialization and Booming Construction Sector, which will lead to the rapid growth of the Roofing Market in the forecasting year 2024-2030. Changing Weather Conditions are the main challenges in the Roofing Market. Based on Roofing Material Type, the metal roofing segment dominated the Roofing Market in 2023 with a share of XX%. Metal roofing lasts longer than any other type of roofing material. Most metal roofs can endure for over 50 years without showing considerable decay or rust, and this is possible with the right type of specific metal material. Metal roof materials are often Class A fire-rated and non-combustible, meaning the fire resistance is the highest grade possible. This proven durability against common roofing threats is one of the fundamental reasons metal roofing is so popular.

 

 

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Roofing Market Dynamics

 

The rapid expansion of e-commerce warehousing construction

 

The rapid development of e-commerce has seen heavier demands for more warehousing construction, affecting the commercial roofing market. The demand for warehouses steadily increasing in recent years, leading to a rise in the demand for assembled warehousing.  Warehouses made of steel are considered as one the most preferred structures as compared to conventional structures. Warehouse roofing provides benefits such as Uncompromised Quality, Longer Life, Maintenance Free Structure, Thermal Efficiency, leakproof, Faster Turnaround, and Clear Spans. Warehouse size has ballooned as these facilities have morphed from simple shipping and receiving facilities to high-tech, automated processing centers. The 1-million-square-foot warehouse is becoming a standard, with some facilities adding mezzanine levels that can push some warehouses to the 3-million-square-foot mark and beyond. E-commerce retailers need smaller, multi-story warehouses that can process last-mile orders.

 

As a result, more warehouses are popping up in densely populated metro areas. Super-sized warehouse facilities need strong roofing and infrastructure to hold and run their massive machines, racks, and mezzanines. Stronger roofs and additional insulation are now commonly used in warehouse construction. The main purpose of roofing sheets is to prevent water leaks and entry into warehouses. Traditional roofing materials can degrade over time, leading to opportunities for rainwater seepage as a result of spaces and fissures. However, roofing sheets provide a continuous and impervious layer that prevents rainwater ingress. Roofing sheets not only provide protection but also insulate warehouses and regulate their temperatures. In the wet season, the sheets help to keep the indoor environment stable by preventing too much heat or cold from entering. Thermal insulation protects items and helps save energy, resulting in lower utility costs for businesses.

 

• According to Prologis, nearly 20% of the new leasing of warehouse space is due to e-commerce, an increase of 5% within the past five years.  This is only the beginning as global e-commerce online sales are projected to increase 150% over the next five years.

 

• Atlas Roofing Corporation is a manufacturer of residential and commercial building materials. The company offers Polyiso roof insulation, wall insulation, roof shingles, roof underlayments, and molded polystyrene. It has 33 manufacturing plants spread across the U.S. and sells its products globally.

 

Industrialization and Booming Construction Sector

 

Pre-engineered buildings (PEBs) gaining traction, especially in social and industrial infrastructure, and sustainable roofing solutions play a crucial role. In line with this, customers are now more inclined towards maximum durability, efficiency, and resilience. As the weather is changing drastically with extreme heat and cold, sudden downpours of rain, and prolonged rainy season, people are looking for resilient roofing to withstand these extreme weather conditions. The cool roofing materials and systems are a new trend with the summers becoming severe. The cool roofs are designed to reflect sunlight and absorb less heat to the surface compared to traditional roofing materials. Another trend is metallic roofing materials which can last longer. Improved insulation methods can enhance the metallic roof’s energy efficiency. New synthetic roofing materials are now emerging as an alternative offering the advantages of being lighter, more flexible, durable, and sustainable.

 

The concept of roofing systems is a total transformation from traditional materials to innovative and attractive ones that suit the needs of changing weather conditions, aesthetics, and sustainability. Metal roofing was brought to the world by the Industrial Revolution. Originally utilized in commercial and industrial structures due to its resilience and ability to withstand fire, metal roofing quickly became popular in residential houses as well. Tin, copper, and zinc gained fame due to their sturdiness and flexibility against severe weather. During the 18th and 19th centuries, the Industrial Revolution occurred and resulted in significant progress in construction and technology, mainly impacting the roofing sector. The production of metal roofing materials like tin and iron on a large scale completely transformed the industry. Metal roofing is a popular choice for residential and industrial building’s structure due to its increased strength, fire resistance, and easy installation.

 

• Everest Industries’s Latest roofing solution Evercool cement sheets used in residential, factories house extensions, shops, poultry farms, etc. “The Evercool roofs offer a 7-degree reduction in indoor temperature. They also have water repellent and anti-fungal features.”

 

• According to the Federal Statistics Office (Destatis), the construction of 29,597 homes in Germany was approved in October 2021. When compared to the same time the year before, building permits increased by 4.2% from January to October 2021.

 

Roofing Market Challenges

 

Changing Weather Conditions

 

weather conditions play a major role in the aging process of the roof. Its continuous exposure to sun, rain, wind, and snow makes for quick deterioration of roofing materials. For example, constant exposure to sunlight might make the materials brittle and develop cracks over time, while strong rain and snow can cause water damage and eventually lead to leakage. Moreover, strong wind conditions can badly loosen the materials on the roofs and hence make it more susceptible to damage in the future. Severe weather conditions can drastically reduce the life expectancy of a roof. Strong storms, hail, heavy snowfall, and extreme heat are all factors that may instantly and quite heavily damage the roof, thus necessitating its urgent repair or even replacement.

 

Hail can dent and crack roofing material, and heavy snow may weigh it down, which can cause structural damage. The wind is one of the biggest threats to your roof. While most of the other things we’ll talk about take a while to inflict meaningful damage, it only takes one windstorm to completely destroy your roof. high winds can damage your roof on its own. If you have a shingle roof, high winds can rip off loose shingles and open weak spots that allow more of the roof to be ripped off and damaged. This usually isn’t a problem, because high-quality roofs are made to withstand fairly high winds, but cheap, old, or previously damaged roofs can be damaged in this way fairly easily, and even a brand-new roof made to last can be damaged if the winds are strong enough. In Mozambique alone, Tropical Storm Freddy and Tropical Cyclone Freddy injured 698 people, killed 183 people, internally displaced 123,000 people, and destroyed 132,000 homes. Flooding affected over 2,381,354 acres of land (about the size of Connecticut) and spread waterborne diseases.  

 

• In June 2024, New Delhi's temperature reached over 50°C (122°F). Between April and August, the average temperature in the Delhi region is often around 100°F (37.8°C).

 

• Hurricane Idalia was the only U.S. landfalling hurricane in 2023. It made landfall as a category-3 hurricane on Aug. 30 near Keaton Beach, Florida, causing storm surge inundation of 7 to 12 feet and widespread rainfall flooding in Florida and throughout the southeast. 

 

• On February 7, Zambia experienced its most intense flooding in over 50 years. After two days, the rain caused significant flooding in nine provinces. The floods affected over 25,000 households, and 400,000 people required humanitarian assistance.

 

Roofing Market Segment Analysis

 

Based on Roofing Material Type, the metal roofing segment dominated the Roofing Market in 2023 with a share of XX%. Metal roofing lasts longer than any other type of roofing material. Most metal roofs can endure for over 50 years without showing considerable decay or rust, and this is possible with the right type of specific metal material. The metal is easily distinguishable as the strongest and most durable when compared with different materials like wood, concrete, plastic, or glass.  Properly installed, metal roofing will be able to withstand strong winds, rain and moisture, snow, hail, UV exposure, mold, algae, mildew, rodents, and other animals. Metal roof materials are often Class A fire-rated and non-combustible, meaning the fire resistance is the highest grade possible. This proven durability against common roofing threats is one of the fundamental reasons metal roofing is so popular. The level of upkeep needed to maintain a metal roof is generally minimal, especially if the roof was correctly installed. There are several reasons that metal roofing is environmentally friendly.

 

Most metals are highly recyclable, any tear-off metal, old panels, or even manufactured excess scraps can be recycled and used in future products. The Metal Roofing Alliance estimates that 20 billion pounds of asphalt shingles end up in landfills each year, but metal roofs are 100% recyclable. They’re also made with at least 25% recycled materials, and roofers can install them directly over your existing roof to cut down on waste. Homeowners can install solar panels onto metal roofs, making them an exceptionally sustainable option. Numerous metal roofing systems have undergone testing and have been shown to function properly in winds exceeding 140 mph (equivalent to an F2 tornado), as well as offer defense against damage caused by debris. The metal roofing can withstand high winds and reduce the risk of water damage and added harm to your home due to the interlocking panels in these systems.

 

 

• According to the Metal Construction Association (MCA), “Conventional roofing products, including asphalt shingles, contribute an estimated 20 billion pounds of waste to U.S. landfills annually, whereas metal roofs can often be installed over an existing roof, eliminating the cost and eco-impact of tear-off and disposal.

 

Roofing Market Regional Insights

 

North America dominated the Roofing Market and accounted for an XX% share in 2023.  Due to the Rise in the construction industry, rapid urbanization, and innovations in technology like green roofing, eco-friendly roofing materials, etc, the presence of Major players in this market drives the Roofing Market. Compared to traditional roofing products, solar roofing has quickly risen in popularity and will experience strong growth throughout the forecast period in North America Roofing Market.

 

North America is especially prone to a variety of severe weather events, such as hurricanes, tornadoes, hailstorms, wildfires, and winter storms, occurring frequently. These weather-related disasters result in extensive roof damage, increasing requirements for repairs and replacements. The constant occurrence and strength of these incidents lead to a never-ending demand for roofing, boosting market expansion. North America has a large consumer population with high buying ability. This results in increased disposable incomes, allowing homeowners to allocate funds towards home renovation projects such as roof replacements and upgrades.

 

• In November 2023, CertainTeed, LLC announced the opening of a roofing material manufacturing and distribution center in Texas, U.S. This strategic investment reaffirms its position in the roofing market and allows the company to efficiently serve its customers in the southern part of the U.S.

 

Following North America, Asia Pacific is the second largest market for Roofing Market. The increasing population, industrialization, and rising construction activities in the region are driving the Roofing Market. India-based solar company Atum is an integrated Solar Roofing System company. It serves all the functions of a traditional roof. Whilst generating energy for you. Atum is a building-integrated solar PV panel with a cementation substrate that reduces thermal conductivity better than a traditional roof. Atum manufactures integrated solar panels with a cement base. It reduces thermal conductivity better than a traditional roof while enhancing the appearance of your roof.

 

• The Indian government has launched various initiatives and schemes to promote affordable housing for low and middle-income groups. Programs such as Pradhan Mantri Awas Yojana (PMAY) have incentivized the construction of affordable housing projects, leading to increased development in this segment.

 

Roofing Market Scope

 

Roofing Market by Region

 

North America (United States, Canada, and Mexico)

Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)

Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)

South America (Brazil, Argentina, Rest of South America)

 

Roofing Market Key Players

 

1. GAF, Inc

2. Owens Corning

3. CertainTeed, LLC

4. Johns Manville.

5. Braas Monier Building Group

6. IKO Industries Ltd.

7. Tata Bluescope Steel

8. Wienerberger AG

9. Crown Building Products LLC

10. Atlas Roofing Corporation

11. CSR Limited

12. Carlisle Companies Inc.

13. TAMKO Building Products LLC.

14. Tesla