The global roofing systems market is estimated to be valued at US$ 133.67 Bn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Roofing systems provide weather protection and increase energy efficiency for residential and commercial buildings. They come in a variety of materials such as asphalt shingles, concrete and clay tile, slate, metal, as well as modified bitumen and built-up roofing to suit all climatic conditions and architectural needs.
Market key trends:
One of the key trends in the roofing systems market is the growing demand for cool roofs. Cool roofs are designed to reflect more sunlight and absorb less heat compared to traditional roofs. They remain 30–50°F cooler than traditional roofs on a hot sunny day. This property makes them energy efficient by reducing air conditioning costs. Their wide adoption can also help mitigate the urban heat island effect. states have introduced cool roofing laws and regulations that require cool roof installation on non-residential buildings during reroofing projects. This is expected to drive significant growth of the cool roofing market over the forecast period.
SWOT Analysis
Strength: Roofing systems provide weather protection and extend the lifespan of buildings. They are durable and provide stability to homes and structures.
Weakness: Certain roofing materials like asphalt shingles have a shorter lifespan and require periodic replacement. Traditional roofing installation requires skilled labor and has safety concerns.
Opportunity: Growth in construction industry due to rising investments in commercial and residential projects. Increasing demand for eco-friendly and sustainable roofing solutions due to growing environmental concerns.
Threats: Volatility in prices of raw materials can increase production costs. Spread of COVID-19 pandemic temporarily disrupted construction activities in 2020.
Key Takeaways
Global Roofing Systems Market Size is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing investments in infrastructure development and construction activities worldwide. Rapid urbanization coupled with rising disposable income will drive demand for new residential and commercial construction.
Regional analysis
Asia Pacific dominated the global market in 2023 and is expected to maintain its lead over the forecast period. This can be attributed to strong growth in the construction sector and increasing spending on infrastructure development projects in China and India. North America is another major market for roofing systems owing to recovery in construction activities in the US and Canada.
Key players
Key players operating in the roofing systems market are Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. Leading manufacturers are focusing on developing advanced roofing membrane technologies and sustainable waterproofing solutions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it