Metal roofing is a roofing system, where metals such as steel, aluminum, and copper are used to cover roofs of residential and commercial buildings. Metal roofing offers various benefits such as durability, light weight compared to wood or other types of roofing. Shifting trend towards environment-friendly products is expected to aid in growth of the market. This is owing to 100% recyclable materials being used in metal roofs.
Metal roofing market is expected to exhibit significant growth over the forecast period, owing to growing construction industry coupled with rising urbanization and industrialization. According to the United Nations, Department of Economic and Social Affairs’ publications, in 2018, 55.0% of the global population resides in urban areas, whereas this percentage is expected to increase to 68.0% by the end of 2050.
Furthermore, various advantages such as durability, fireproof, and resistivity against strong wind is expected to increase demand for metal roofing over the forecast period.
However, high installation cost and timely maintenance attributing to its high corrosive property is expected to act as a major restraint for growth of the global metal roofing market over the forecast period.
Asia Pacific is expected to witness significant growth in metal roofing market over the forecast period, owing to increasing population, steady urbanization, and growth of the construction industry in the region. According to the United Nations, Department of Economic and Social Affairs article published in 2018, the urban population across the globe has increased rapidly to 4.2 billion in 2018 up from 751 million in 1950. Asia Pacific recorded lower level of urbanization as compared to other countries across the globe, however contributed for 54.0% of world’s urban population, followed by Europe and Africa accounting for 13%, respectively in 2018.
Moreover, according to the India Brand Equity Foundation (IBEF), India’s real estate industry was valued at US$ 120 billion in 2017 and is expected to reach US$ 1 trillion by end of 2030. Growing construction industry with increasing demand for durable and strong roofing systems is expected to drive growth of the metal roofing market over the forecast period.
Key players operating in the global metal roofing market include NCI Building Systems, Inc., The Interlock Group, Ideal Roofing, Metal Sales Manufacturing Corporation, DECRA Roofing Systems, Inc., Saint-Gobain S.A., ATAS International, Inc., Firestone, Carlisle Companies Incorporated, Kingspan Group plc, Tegral Building Products, Hangzhou Faerle Building Materials Co., Ltd., and Fletcher Building.
On the basis of metal type, the global metal roofing market is segmented into:
On the basis of construction type, the global metal roofing market is segmented into:
On the basis of end user, the global metal roofing market is segmented into:
On the basis of region, the global metal roofing market is segmented into: