Steel Roofing Market Exploring Huge Opportunities to Top Players at a CAGR of 4.2% by 2032

According to AMR, Increasing population and urbanization are the main elements driving demand for residential and non-residential buildings. This positively influences the steel roofing market.

The steel roofing market size was valued at $10.7 billion in 2020, and is estimated to reach $17.5 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.

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Impacting Factors:
The fastening types of metallic roofing including steel roofing are exposed and concealed fastened steel roofing. Exposed fastened roofing has its fasteners visible on the surface of the roof. This form of roof is low cost and easy to put in; however, the possibility of water seepage from the roof is higher.

Contrarily, the possibility of leakage is much less with the concealed fastened roof; but, this roofing is more steeply-priced than the other alternative. Thus, attributable to the affordability of exposed fastened steel roofs, its proportion in total revenue generated in 2020 was more. On the other hand, because of the better aesthetics of concealed fastened roof, it's growth is predicted at a better CAGR during the forecast duration.

The market is particularly driven by the increase in the industrial and residential construction sector, recovery in the construction industry, and growth in spending on domestic building reworking and building preservation activities.

However, fluctuations in raw materials costs constrain the boom of the marketplace. On the other hand, the growing demand for environmentally sustainable homes is predicted to offer profitable opportunities for the steel roofing market growth.

In 2020, Asia-Pacific dominated the steel roofing market, in terms of sales. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR, as a result of a boom in the construction of commercial establishments in the region.

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Top Runners:
Cornerstone Building Brands Inc. (MBCI), Ideal Roofing, Lifetite Metal Product LLC, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co., Ltd, Central States Mfg, ATAS International, Inc., Tata BlueScope Steel, Bansal Roofing Products, and Stellar Buildtech.

Key Findings Of The Study
The report provides an extensive analysis of the current and emerging steel roofing market trends and dynamics.
Depending on the fastening type, the exposed fastened segment dominated the steel roofing market, in terms of revenue in 2020.
By distribution channel, the offline segment accounted for the highest market share in 2020.
By end user, the residential segment is anticipated to grow with a higher CAGR during the forecast period.
Asia-Pacific is projected to register the highest growth rate in the coming years.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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