June 23, 2024
Metal Roofing Market

Metal Roofing Market Is Expected To Be Flourished By Increasing Demand For Durable Roofing Solutions

Metal roofing refers to roofs that are made from different types of metal sheets such as steel, aluminum, copper, and others. They offer several benefits over traditional roofing materials including durability, longevity, fire resistance, thermal insulation, energy efficiency, and aesthetic appeal. Growing popularity of metal roofing on account of their superior durability and life-span as compared to asphalt shingles and clay/concrete tiles is a key factor driving the growth of the global metal roofing market. They can last over 50 years which significantly reduces maintenance and replacement costs over the lifespan of the roof. Moreover, metal roofs are highly resistant to extreme weather conditions such as hailstorms, high winds, and heavy snowfall. This decreases vulnerability to damages from frequent storms and natural disasters which is boosting their adoption across regions vulnerable to heavy storms and hurricanes. Increasing demand for products that lower energy bills and reduce carbon footprints is another factor fueling sales of metal roofing as they provide better insulation against heat and cold as compared to traditional roofing materials. With superior thermal efficiency, metal roofs help to lower heating and cooling costs of buildings.

The global metal roofing market is estimated to be valued at US$ 10.95 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One key driver behind the growth of the metal roofing market is the increasing demand for durable roofing solutions that last longer and reduce maintenance and replacement costs over time. Metal roofs such as steel and aluminum roofs can significantly outlast traditional roofing materials such as asphalt shingles and clay/concrete tiles by over 50 years which lowers overall costs to the homeowners. Moreover, investments in infrastructure development projects coupled with rapid urbanization in developing economies are propelling the demand for metal roofing sheets for industrial and commercial construction activities. Growth in the real estate and construction industry will continue to offer significant opportunities for metal roofing manufacturers globally during the forecast period. However, higher initial installation costs compared to asphalt shingles may limit the adoption of metal roofing to some extent. Ongoing research and development activities to introduce more lightweight and energy-efficient metal roofing products will help to address this challenge and support industry expansion over the coming years.

Segment Analysis

The global metal roofing market is dominated by the steel sub-segment. Steel accounts for over 80% of the total metal roofing market owing to various advantages over other materials like aluminum and copper. Steel roofing is known for its durability, strength, resistance to corrosion and cost effectiveness which has propelled its adoption rate in the construction industry across regions.

PEST Analysis

Political: Government incentives and subsidies in various countries promote use of metal roofing which is more energy efficient. Stringent regulations to reduce carbon emissions favor metal roofing over traditional materials.

Economic: Developing economies in Asia Pacific witness increasing construction spends that boost demand for cost effective and durable metal roofing solutions.

Social: Rising consumer preference for eco-friendly building materials increase uptake of metal roofing with green attributes.

Technological: Advancements in metal alloy formulations and coating technologies enhance product lifespan and aesthetic appeal of metal roofing systems. Digitalization aids product customization.

Key Takeaways

The Global Metal Roofing Market Size is expected to witness high growth over the forecast period. The global metal roofing market is estimated to be valued at US$ 10.95 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.

Regional analysis

The Asia Pacific region holds over 35% share of the global metal roofing market led by China and India. Abundant availability of raw materials and low production costs have made this region a dominant manufacturer of metal roofing. Government initiatives to build low cost housing further drive the regional market.

Key players

Key players operating in the metal roofing market are Tata Steel, BlueScope Steel, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry, Drexel Metals and Reed’s Metals. Tata Steel and BlueScope Steel are the largest manufacturers with a well-established distribution network across major countries.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it