Metal roofing systems comprise products such as steel, aluminum, copper, and their alloys. Metal roofing provides superior durability and longevity compared to traditional roofing materials. Galvanized steel roofing and aluminum are extensively used in commercial and residential construction owing to their cost-effectiveness, lifespan of over 50 years, enhanced durability against extreme weather conditions and natural disasters such as hurricanes, and fire resistance. Additionally, they aid in energy conservation by reflecting heat from the sun’s rays.
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 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The metal roofing market is expected to witness significant growth over the forecast period owing to increased adoption of durable and cost-effective roofing solutions. Metal roofs provide enhanced strength and durability compared to traditional roofing materials such as asphalt shingles. They are lightweight yet highly durable and long-lasting. Also, metal roofing requires very less maintenance and lasts longer than other roofing materials, thereby reducing replacement and repair costs over the lifespan of the roof. Moreover, metal roofs are available in a wide variety of colors, styles, and textures providing designers and homeowners more choices for both functional and aesthetic roofing needs. Their recyclable and sustainable properties are also driving increased preference for metal roofing in residential as well as commercial construction.
Segment Analysis
Metal roofing market is dominated by steel metal roofing sub segment which constitutes around 70% of the total market share. Steel is widely used for roofing application owing to its properties like tensile strength, workability, durability and cost effectiveness. It requires very less maintenance and can withstand all weather conditions effectively as compared to other materials like wood, tiles etc. This has resulted in higher preference of steel especially in commercial applications like warehouses, factories, hotels etc. where durability is the primary requirement.
Key Takeaways
The Global Metal Roofing Market Size is expected to witness high growth over the forecast period of 2023 to 2030. 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 6.5% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific region currently holds the dominant market share owing to rapid industrialization and infrastructure development activities in major countries like China and India. Countries in this region are expected to continue their dominance mainly due to growing construction industry and rising spending on non-residential buildings.
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. These key players are focusing on expansion in high growth regions through mergers, acquisitions and partnerships. For instance, Tata Steel acquired European steel major Corus Group in 2007 to expand globally.
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Global Market for Metal Roofing Market – Segmental Analysis:MRFR’s report offers a detailed segmental analysis of the market based on product type, metal type, and application.
By metal type, the market is segmented into steel roofing; copper roofing; aluminum roofing; zinc roofing; tin roofing; and others.
By application, the market has been segmented into residential; commercial; and industrial.Access Report @ https://www.marketresearchfuture.com/reports/metal-roofing-market-6554Regional Outlook:The global metal roofing market, by region, has been segmented into North America, Asia Pacific, Europe, and the Rest of the World.
Asia Pacific is expected to witness significant growth over the next couple of years.
The growth is attributable to the rapid urbanization and exponential population in the region which has catapulted the construction sector on an upward trajectory.
The prominent country-level markets of the region include India, China, and Malaysia among others.North America is a vital growth pocket and is likely to remain a lucrative market in the upcoming years.
