North America Roofing Market size was valued at $25,684.5 million in 2021, and is projected to reach $41,242.6 million by 2031

The North America roofing market has witnessed substantial growth over the years, with its market size valued at $25,684.5 million in 2021. The market is projected to reach $41,242.6 million by 2031, registering a compound annual growth rate (CAGR) of 4.9% from 2022 to 2031.

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A roof serves as the top covering of a building structure and consists of various materials that provide protection from environmental factors such as heat, rain, and other atmospheric conditions. It is an essential component of the building envelope. Various materials, including bitumen, ceramic-coated granules, clay, sand, fiberglass, concrete, and polycarbonate, are utilized in roofing for residential and commercial buildings like offices, hotels, and educational institutes.

Market Drivers and Trends

The North America roofing market is experiencing significant growth due to a rise in the construction industry, rapid urbanization, and continuous technological innovations. Advancements in roofing technology, such as green roofing, eco-friendly materials, and the use of drones for roof inspections, have further contributed to the demand for roofing products. Despite the high cost of roofing system installation, which is expected to hamper market growth, key players are focusing on designing durable roofing solutions that can withstand harsh weather conditions, thereby presenting lucrative opportunities in the market.

For instance, in March 2020, Standard Industries, a U.S.-based company, launched Solaria panels, a roof-integrated solar product that is 16% more powerful than traditional solar-integrated roofs. Similarly, Johns Manville introduced a high-performance commercial roofing product that requires up to 50% fewer fasteners to achieve FM I-90 compliance, making it an efficient solution for large-scale roofing projects.

Growth in Non-Residential Roofing

The increasing number of non-residential projects in the U.S. and Canada is expected to drive the demand for roofing materials in the region. Energy-efficient roofing solutions, which include green roofing technologies, enhance roof lifespan and safety, improve air quality, and reduce air-conditioning costs. Moreover, governments in North America have been investing heavily in infrastructure development, further fueling market growth.

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Roofing Market Segmentation

By Type

Among the different types of roofing materials, shingle roofing has generated the highest revenue in the North America roofing market. Shingles are affordable, easy to install, and have a lifespan of approximately 25-30 years when maintained properly. Moreover, shingles can be easily replaced or repaired when needed, making them a popular choice among homeowners and contractors.

By Material

In terms of material, membrane roofing has dominated the market. Membrane roofing provides superior protection against water infiltration and harsh weather conditions. These roofing systems also offer better insulation, improving energy efficiency and reducing heating and cooling costs.

By Roof Type

Flat roofing holds a dominant position in the market, particularly in commercial and industrial buildings. Flat roofs are preferred for their cost-effectiveness and ease of maintenance. The increasing trend of rooftop gardens and solar panel installations has also contributed to the popularity of flat roofs in the North American market.

By Application

The residential segment has been the most dominant in the market and is expected to witness the highest growth. The rising demand for eco-friendly roofing solutions and increased investments in the real estate sector are fueling the expansion of the residential roofing market. Home construction and remodeling projects are also contributing to the market's upward trajectory.

Regional Analysis

The North America roofing market analysis is conducted across the U.S. and Canada. Among these, the U.S. holds a dominant position and is expected to grow at a significant rate during the forecast period. The rapid increase in residential and commercial construction projects, along with technological advancements, is driving market growth in the region.

Competitive Landscape

The North America roofing market is highly competitive, with key players focusing on innovation and sustainability. The major players in the market include:

Atlas Roofing Corporation

Beacon Roofing Supply Inc.

Berkshire Hathaway Inc. (Johns Manville)

Carlisle Companies Incorporated

Compagnie de Saint-Gobain S.A.

Firestone Building Products

IKO Industries

Owens Corning

Seaman Corporation

Sika AG

These companies are investing in research and development to introduce energy-efficient roofing materials and advanced roofing systems. Sustainable roofing solutions are becoming a major focus, with many companies offering environmentally friendly products that reduce carbon footprints and promote energy efficiency.

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Key Benefits for Stakeholders

Extensive Market Analysis: The report provides a comprehensive analysis of the current and emerging trends in the North America roofing market.

Forecast Estimations: Detailed estimations for key market segments between 2021 and 2031 help stakeholders make informed business decisions.

Competitive Landscape: The report includes an in-depth study of major market players, their strategies, and competitive positioning.

Regional Insights: An analysis of various regions highlights market opportunities and growth potential across North America.

Technological Advancements: The study showcases innovations such as green roofing and solar-integrated roofing solutions, which are shaping the future of the roofing market.

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