Roofing Materials Market to hit $159.9 billion by 2031

According to a recent publication by Meticulous Research®, the global roofing materials market is expected to reach $159.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. This growth is driven by increased construction activities and rising demand for roofing materials in both new housing developments and renovation projects. The demand for energy-efficient roofing materials and the growing awareness of environmental sustainability and green building practices are anticipated to create additional growth opportunities. However, environmental concerns associated with traditional roofing materials and the challenge of adapting materials to withstand extreme weather conditions may restrain market growth.

Key trends in the market include the increasing use of recycled and renewable roofing materials, as well as the growing adoption of cool roofs, solar panels, and green roofs.

Download Sample Copy: https://www.meticulousresearch.com/download-sample-report/cp_id=5897

The global roofing materials market is segmented by product type and end-user. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Product Type: The market is divided 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 hold the largest share, above 25%, due to their durability, cost-effectiveness, and ease of installation, especially in residential and commercial buildings. However, the synthetic roofing segment is projected to witness the highest growth rate during the forecast period.

End-User: The market is segmented into residential, commercial, industrial, hospitals/clinics/medical facilities, education & institutional, government & public sector, aerospace & defense, and other end-users. The residential segment is expected to dominate with over 55% market share in 2024, driven by the growing demand for new residential constructions and roof replacements, increasing population and urbanization, and the rising interest in energy-efficient roofing materials. This segment is also projected to experience the highest growth rate from 2024 to 2031.

Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead with a market share of over 35% in 2024, followed by Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific market is also anticipated to register the highest growth rate of over 5% during the forecast period. This growth is attributed to the region's booming construction activities, increasing demand for roofing materials to support infrastructure development, and the growing adoption of advanced roofing technologies and energy-saving solutions.

Get Customized Report: https://www.meticulousresearch.com/request-customization/cp_id=5897

Key Players: Major companies operating in the roofing materials market include 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).

Contact Us:
Meticulous Research^®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research