Roofing Materials Market to be Worth $159.9 Billion by 2031

Roofing Materials Market Size, Share, Forecast, & Trends Analysis by Product (Asphalt Shingles, Metal, Slate, Concrete & Clay Tiles, Wood, Synthetic, Built-Up, Green), End User (Residential, Commercial, Industrial, Government) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Roofing Materials Market Size, Share, Forecast, & Trends Analysis by Product (Asphalt Shingles, Metal, Slate, Concrete & Clay Tiles, Wood, Synthetic, Built-Up, Green), End-user (Residential, Commercial, Industrial, Government) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global roofing materials market is projected to reach $159.9 billion by 2031, at a CAGR of 3.8% from 2024 to 2031. The growth of this market is driven by the increasing construction activities and growing demand for roofing materials in new housing developments and renovations. Additionally, the growing demand for energy-saving roofing materials and increasing awareness of environmental sustainability and green building practices is expected to create market growth opportunities. However, environmental concerns of traditional roofing materials may restrain the growth of this market. Also, adapting roofing materials to withstand extreme weather conditions is a major challenge for the players operating in this market.

The increasing use of recycled and renewable roofing materials and the growing adoption of cool roofs, solar panels, and green roofs are key trends in the roofing materials market.

The global roofing materials market is segmented by product and end user. The study also evaluates industry competitors and analyzes the market at the region/country level.

Based on product, the global roofing materials market is broadly segmented into asphalt shingles, metal roofing, slate roofing, concrete & clay tiles, wood shingles & shake, synthetic roofing, built-up roofing (BUR), green roofs, and other products. In 2024, the asphalt shingles segment is expected to account for the largest share of above 25.0% of the roofing materials market. The large market share of this segment can be attributed to the growing need for durable and cost-effective roofing materials, increasing use of asphalt shingles in residential roofing for townhouses, apartments, and commercial roofing, including offices, restaurants for their ease of installation, affordability and versatility in design options. However, the synthetic roofing segment is projected to witness the highest growth rate during the forecast period of 2024–2031.

Based on end-user, the global roofing materials market is broadly segmented into residential, commercial, industrial, hospital/clinics/medical facilities, education & institutional, government & public sector, aerospace & defense, and other end-users. In 2024, the residential segment is expected to account for the largest share of above 55.0% of the roofing materials market. The segment is also projected to witness the highest growth rate during the forecast period of 2024–2031. The large market share of this segment can be attributed to the growing demand for new residential construction and roof replacements due to increasing population and urbanization, increasing use of roofing materials in rural areas for residential properties, including farms and ranches, increasing investments in renovation and remodeling projects including roof upgrades, and growing demand for energy-efficient roofing materials among homeowners.

Based on geography, the global roofing materials market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 35.0% of the roofing materials market, followed by Europe, North America, Latin America, and the Middle East & Africa. The market in Asia-Pacific is also projected to register the highest growth rate of above 5.0% during the forecast period. Asia-Pacific’s significant market share can be attributed to the growing construction activities in the region, including residential, commercial, and industrial developments, increasing demand for roofing materials to support infrastructure development, and growing adoption of advanced roofing technologies and materials to improve energy efficiency and sustainability, growing aging Infrastructure requiring roof replacements or upgrades, increasing adoption of energy-saving roofing solutions to enhance building performance and sustainability.

Key Players:

The key players operating in the roofing materials market are Owens Corning (U.S.), CertainTeed Corporation (U.S.), GAF Materials LLC (U.S.), Beacon Roofing Supply, Inc. (U.S.), BMI Group Holdings UK Limited (U.K.), Herbert Malarkey Roofing Company (U.S.), IKO Industries Ltd. (Canada), Hi-Tech Roofing (U.S.), Atlas Roofing Corporation (U.S.), Johns Manville (U.S.), TAMKO Building Products LLC (U.S.), Carlisle Companies Incorporated (U.S.), Holcim Ltd (Switzerland), Fletcher Steel Limited (New Zealand), Boral Limited (Australia), Etex NV (Belgium), CSR Limited (Australia), ProVia (U.S.), Siplast, Inc. (U.S.), JSW Steel, Coated Products Limited (India), and Tata BlueScope Steel (India).

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Key questions answered in the report-

Which are the high-growth market segments based on product, end user, and geography?
What was the historical market for the roofing materials market?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the roofing materials market?
Who are the major players, and what shares do they hold in the roofing materials market?
What is the competitive landscape in the roofing materials market?
What are the recent developments in the roofing materials market?
What are the different strategies adopted by the major players in the roofing materials market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global roofing materials market, and how do they compete with the other players?

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