Driven by the increasing construction of commercial buildings across developing economies and favorable initiatives by various governments.
The emerging need for renovations and the introduction of new manufacturing processes have supported the influx of new products and technologies in the building and construction sector. The rising penetration of green construction materials and advancements in building technologies are other factors that should fuel the industry expansion. Metal roofs have a longer lifespan, are environmentally friendly, easy to install, and possess greater durability.
Based on application, the metal roofing market revenue from the industrial sector is estimated to increase significantly during the forecast period, owing to rapid industrialization globally. Industrial roofs use geometric shapes and lines to create unique designs ranging from low slopes to curved metals. Standing seam panels are used on a large scale to make industrial metal roofs. The construction of green buildings is also witnessing a prominent surge, which will widen the application scope of metal roofs in the industrial domain.
In terms of material, the metal roofing market size from the copper roofing segment is expected to record notable growth through 2032, on account of its benefits, such as low melting temperature and great durability. Copper is used as a roofing material to provide higher weather resistance. Its malleability helps manufacturers in molding the metal into all types of complicated and intricate shapes. This type of roofing is suitable for different architectural styles and building types. Rising preference for copper panels and shingles along with the high demand for continuous copper roofing will support the production of metal roofs.
Regionally, the Asia Pacific metal roofing market share will expand at a noteworthy rate till 2032, due to extensive urbanization. The rapidly growing regional population and expanding construction sector are fueling the need for reliable and strong roofing systems. Many companies, especially in China and India, are raising their investments in infrastructural projects across the industrial as well as commercial sectors which will strengthen the market potential.
Major players involved in the metal roofing market include 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 companies are increasing their focus on inorganic marketing strategies, such as capacity expansions, partnerships, acquisitions, and novel product launches to augment their market presence. For example, in February 2022, Kingspan Group announced that it had purchased 100% shares of THU Perfil SL, a renowned Ribarroja firm that has an extensive range of metal ceiling products and solutions, to expand its presence in the Spanish market.
The ongoing Russia-Ukraine war had a severe impact on metal roofing market growth as the event caused several supply chain disruptions, resulting in a sudden halt in the regular production processes. The scenario also had a negative effect on various construction projects due to an acute shortage of raw materials. Raw material prices increased during this period, further decelerating the demand for metal roofing. However, aggressive construction efforts are taking place across both nations to rebuild the damaged residential and commercial buildings, which might spur the demand for metal roofing.
The metal roofing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:
Market, By Product
Metal Tiles, Shingles, and Shakes
Corrugated Panels
Standing Seam Roofing
Plain Panels
Others
Market, By Material
Steel
Aluminum
Copper
Zinc
Tin
Others
Market, By Application
Residential
Commercial
Agricultural
Industrial
The above information has been provided for the following regions and countries:
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Russia
Belgium
Netherlands
Asia Pacific
China
India
Japan
South Korea
Australia
Malaysia
Indonesia
Thailand
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Article form GMI (Global Market Insights)
Report ID: GMI4974
https://www.gminsights.com/industry-analysis/metal-roofing-market
Comments