Multi-Billion Opportunity Alert: Roofing Market to Hit $280.29 Billion Revenue by 2029 - Arizton

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2024-2029.
According to Arizton's latest research report, the global roofing market [https://www.arizton.com/market-reports/roofing-market] is growing at a CAGR of 4.62% during 2023-2029.

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Report Scope:

Market Size - Revenue (2029): $280.29 Billion

Market Size - Revenue (2023): $213.76 Billion

CAGR (2023-2029): 4.62%

Market Size - Shipments (2029): 2,284.86 Million Sq

Historic Year: 2020-2022

Base Year: 2023

Forecast Year: 2024-2029

Market Segmentation: Product, Application, Roof Type, End-user, and Geography

Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa

The global roofing market is a dynamic and competitive landscape characterized by several key players vying for prominence. Companies are engaged in a multifaceted competition, focusing on product quality, innovation, customer service, technological advancements, and sustainability trends, all while navigating varying pricing strategies and regional economic conditions. In recent years, sustainability and environmental considerations have gained increasing importance within the industry, prompting many firms to develop eco-friendly roofing solutions such as solar panels, green roofs, and recycled materials. Additionally, local regulations, climate conditions, and cultural preferences present unique challenges and opportunities for companies operating across different regions. To stay ahead, businesses are heavily investing in research and development to create innovative products that meet evolving customer demands, further shaped by shifting consumer preferences and trends in the marketplace.

Key Developments in the Global Roofing Market

* In May 2024, Carlisle revealed plans to invest over USD 45 million in expanding its cutting-edge Research & Innovation Center in Carlisle, Pennsylvania.
* In 2023, Roofit.Solar, a Europe-based company specializing in fully integrated solar roofs, raised around USD 7 million to meet the growing demand for rooftop solar power. It designs and produces solar roofs that aim to merge design with cutting-edge solar technology. The fully building-integrated photovoltaics (BIPV) solar roofs can endure extreme weather conditions.
* In 2023, Holcim signed an agreement to acquire Duro-Last, a leading U.S. company in commercial roofing systems with pro forma net sales of USD 540 million.

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Re-Roofing is Driving Growth in the Roofing Market

Re-roofing is a crucial factor in the growth of the roofing market, addressing the increasing need for roof replacement and repair due to aging structures, damage from severe weather, and rising homeowner investment in property maintenance. As existing roofs reach the end of their lifespan or suffer significant deterioration, homeowners are turning to re-roofing as a viable solution to enhance energy efficiency and curb appeal. This demand is further fueled by trends in repurposing older buildings for modern use, which often necessitates updated roofing systems.

The re-roofing segment has gained a substantial share of the market, accounting for over 29% in 2023, thanks to heightened activity in home improvement. Low interest rates and stimulus funding have encouraged homeowners to invest in re-roofing projects, resulting in increased sales of roofing materials. Furthermore, the industry's response to weather-related challenges-such as high winds and hail-has spurred growth in both residential and non-residential sectors.

As regulatory requirements in some regions ensure high standards through licensed contractors, the quality of re-roofing work is also improving, contributing to overall market confidence. This combination of factors-aging infrastructure, economic incentives, and regulatory support-positions re-roofing as a significant driver of growth in the roofing market for the foreseeable future.

Geographical Insights

* The roofing market in North America is substantial, bolstered by extensive construction activity across the United States and Canada. Asphalt shingles dominate this region due to their cost-effectiveness and durability. Recently, there has been a significant shift towards energy-efficient and sustainable roofing solutions, driven by growing environmental concerns and supportive incentive programs.
* In Europe, the roofing market is well-established, with a strong focus on energy efficiency and environmental sustainability. Countries such as Germany, France, and the UK adhere to stringent regulations that promote green roofing solutions. The market features a blend of traditional materials like clay tiles and slate, alongside modern options such as synthetic membranes and green roofs.
* The Asia-Pacific (APAC) region is witnessing rapid urbanization, which is fueling increased demand for construction, including roofing. While traditional materials like clay tiles and thatch remain common in some areas, modern materials such as metal roofing, concrete tiles, and asphalt shingles are gaining popularity due to their durability and ease of installation.
* Latin America presents a diverse roofing market influenced by various factors, including climate, economic conditions, and cultural preferences. Countries like Brazil, Mexico, and Argentina are seeing significant demand for roofing materials, driven by ongoing construction activities and the necessity for roof repairs.
* In the Middle East and Africa, the roofing market has experienced notable growth in recent years, primarily due to rapid urbanization and infrastructure development. As cities expand and new buildings emerge, there is a rising demand for roofing materials and systems, reflecting the region's dynamic construction landscape.

Key Company Profiles

* Carlisle Construction Materials
* Holcim
* Owens Corning
* Westlake Corporation
* Wienerberger
* Atlas Roofing Corporation
* BMI Group
* CertainTeed
* DBS Industries
* DML USA Metal Roofing
* Eagle Roofing Products
* Edilfibro
* Etex Group
* GAF
* GRS Global Roofing Solutions
* IKO
* Industrie Cotto Possagno
* Johns Manville
* JSW Group
* Klober
* Maxroof
* MCA CLAY ROOF TILE
* McElroy Metal
* Quality Metal Roofing
* Sika
* Swisspearl Group AG
* TAMKO Building Products
* Tata Steel
* Tegola Canadese

Market Segmentation

Product

* Bituminous Roofing
* Asphalt Shingles
* Metal Roofing
* Concrete Roofing
* Tile Roofing
* Single-Ply Roofing
* Others

Application

* New Construction
* Re-roofing

Roof Type

* Slope Roof
* Flat Roof

End-user

* Residential
* Non - Residential

Geography

* APAC

* China
* India
* Japan
* South Korea
* Australia

* Europe

* Germany
* UK
* France
* Italy
* Spain

* North America

* The US
* Canada

* Latin America

* Brazil
* Mexico
* Argentina

* Middle East & Africa

* Saudi Arabia
* The UAE
* South Africa

In a nutshell, the Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the roofing market. Request for Free Sample to get a glance of the report now: [https://www.arizton.com/market-reports/roofing-market]

What Key Findings Will Our Research Analysis Reveal?

How big is the roofing market?

Which region dominates the global roofing market share?

What are the significant trends in the roofing industry?

What is the growth rate of the global roofing market?

Who are the key players in the global roofing market?

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