Market Overview:
Metal roofing products like shingles, tiles, and panels provide durability and longevity over traditional roofing materials. They offers superior insulation and energy efficiency along with fire resistance.
The global Metal Roofing Market is estimated to be valued at US$ 9.5 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the metal roofing market is the increased demand for lightweight and eco-friendly metal roofing materials. Metal roofing manufacturers are focusing on developing roofing solutions made from recycled or composite metal materials that reduce raw material consumption and carbon footprint. Growing popularity of metal tiles resembling traditional roofing materials like clay tiles is another trend. Their aesthetics and resemblance to conventional roof types is increasing adoption in residential sector.
Segment Analysis
The global metal roofing market is segmented into material type and application. Based on material type, the market is segmented into steel, aluminum, copper and others. Among these, the steel segment accounts for the largest share of more than 60% in the global market. Steel is highly preferred for metal roofing construction due to its durability, recyclability, low maintenance and attractive appearance.
Key Takeaways
The Global Metal Roofing Market Size is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing durability and superior weather resistance properties of metal roof as compared to conventional roofing materials.
Regional analysis
Regionally, North America dominates the global metal roofing market and is expected to continue its dominance during the forecast period. This is attributed to rise in remodeling and repair activities of old houses in the US. Asia Pacific is expected to witness fastest growth during the forecast period due to high growth in construction industry in emerging economies such as China and India.
Key players
Key players operating in the metal roofing market are Tata Steel (Tata Group), BlueScope Steel Limited, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co. Ltd., Drexel Metals Inc. (Carlisle SynTec Inc), and Reed's Metals. Tata Steel (Tata Group) holds the largest share in the global market due to its diversified product portfolio and strong distribution network across geographies. BlueScope Steel Limited is another prominent player known for its high-quality steel roofing and walling products.
For More Insights, Read: https://www.newsstatix.com/metal-roofing-market-size-share-and-growth-forecast-2023-2030/
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