Roofing Market Growth, Trends, and Forecast by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Roofing Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Asphalt, Metal, Clay, Concrete, Plastic, and Others), Type (Shingles, Tiles, and Sheets), End Use (Residential, Commercial, Industrial, and Institutional and Others), and Geography

  • Report Date : Aug 2024
  • Report Code : TIPTE100000702
  • Category : Chemicals and Materials
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 185

The roofing market size is projected to reach US$ 379.33 billion by 2031 from US$ 267.35 billion in 2023. The market is expected to register a CAGR of 4.5% during 2023–2031. The influence of the green roofing approach in the flourishing residential construction industry is likely to remain a key roofing market trend.

Roofing Market Analysis

With the surge in urbanization and infrastructure development, the construction sector increasingly creates a demand for roofing systems such as asphalt shingles, metal roofing, clay roofing, concrete tiles, slate tiles, wood shakes, and rubber or plastic tiles. Roofing is an integral part of buildings. A roof in good condition protects buildings from unforeseen situations. Roofing requirements in construction projects revolve around the need for optimal safety. Government bodies in various countries take initiatives to back the development of the residential construction sector.

Roofing Market Overview

The roofing business is a dynamic and expanding segment of the construction industry, driven by increasing urbanization, infrastructural development, and rising demand for residential and commercial buildings. As cities expand and new residential and commercial buildings are constructed, the need for reliable roofing solutions becomes critical. The roofing market has seen significant growth in recent years due to a surge in construction activities worldwide, supported by residential and commercial real estate developments. This growth is further fueled by the availability of technologically advanced materials that enhance the durability, energy efficiency, and aesthetic appeal of roofing systems. With the rising awareness of environmental issues and energy conservation, there is a notable shift toward cool roofs and green roofs, which help lower energy consumption and carbon footprints. Additionally, innovations in roofing technologies such as reflective coatings and advanced insulation materials, are gaining traction for their benefits in improving building performance and reducing operational costs.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Roofing Market: Strategic Insights

roofing-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Roofing Market Drivers and Opportunities

Growing Renovation and Remodeling Activities Favor Market Growth

Renovation involves reconstructing infrastructural facilities with state-of-the-art construction materials to promote structural properties, improve lifespan, and minimize environmental impact. Renovation and remodeling activities help align infrastructural facilities with present and future needs. Rapid urbanization propels the demand for better residential and commercial facilities, leading to the rise in home improvement budgets. According to information provided by the 2022 US Houzz and Home Study, the median spending of homeowners rose by 20% from US$ 15,000 in 2020 to US$ 18,000 in 2021. As per the data published by the Joint Center for Housing Centers of Harvard University (JCHS), home improvement project spending in the US increased from US$ 328 billion in 2019 to US$ 472 billion in 2022; it is further estimated to surge to US$ 485 billion in 2024. In Europe, renovation activities represent 30% of total investment in construction, as stated by the European Construction Industry Federation (FIEC). The demand for roofing materials ultimately surges with an increase in renovation and remodeling activities.

Rising Popularity of Solar Roofs to Create Growth Opportunities in Future

Societies worldwide grapple with the urgent need to transition toward renewable energy sources and mitigate the consequences of climate change, and solar power has been emerging as a frontrunner among all renewable sources due to the abundance and accessibility of solar energy in many parts of the world, along with the environmental benefits associated with its usage. According to the US Energy Information Administration, the overall share of renewable energy in total electricity generation is expected to rise to 26% by the end of 2025. In contrast, the share of natural gas would drop from 42% in 2023 to 41% by 2025. The surging use of solar energy is revolutionizing the building and construction landscape. The demand for innovative solutions such as solar roofs to seamlessly integrate solar technology into building structures is rising across the construction industry. The building and construction sector contributes notably to global climate change, accounting for ~21% of global greenhouse gas emissions. As per data published by the UN Environment Programme (UNEP) 2022, buildings were responsible for 34% of global energy demand and 37% of energy and process-related carbon dioxide emissions. The rising concerns about greenhouse gas emissions have added to the popularity of energy-efficient buildings, which is likely to propel the demand for green roofs in the coming years.

Roofing Market Report Segmentation Analysis

Key segments that contributed to the derivation of the roofing market analysis are material, type, and end use.

  • Based on material, the market is segmented into asphalt, metal, clay, concrete, plastic, and others. The metal segment held the largest share of the market in 2023.
  • In terms of type, the market is segmented into shingles, tiles, and sheets. The tiles segment held the largest share of the market in 2023.
  • By end use, the roofing market is divided into residential, commercial, industrial, and institutional and others. The residential segment held the largest market share in 2023.

Roofing Market Share Analysis by Geography

The geographic scope of the roofing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. Asia Pacific dominates the market with the largest revenue share. The roofing market in Asia Pacific is consistently growing with significantly increasing investments in residential and commercial construction across major countries such as China, India, and Japan. The rising demand for infrastructure development with rapid urbanization and industrialization compel governments of developing economies to raise investments in the building and construction industries, along with the businesses complementing these industries. The construction industry is anticipated to expand considerably due to growing disposable income in developing economies. In China, the total investment in infrastructure during the 14th Five-Year Plan period (2021–2025) is predicted to reach ~US$ 4.2 trillion as per the International Trade Administration.

Roofing Market Regional Insights

The regional trends and factors influencing the Roofing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Roofing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

roofing-market-global-geography
  • Get the Regional Specific Data for Roofing Market

Roofing Market Report Scope

Report Attribute Details
Market size in 2023 US$ 267.35 Billion
Market Size by 2031 US$ 379.33 Billion
Global CAGR (2023 - 2031) 4.5%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Material
  • Asphalt
  • Metal
  • Clay
  • Concrete
  • Plastic
By Type
  • Shingles
  • Tiles
  • Sheets
By End Use
  • Residential
  • Commercial
  • Industrial
  • Institutional
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • JSW Steel Ltd
  • Hindalco Industries Ltd
  • Siam Cement PCL
  • PT Utomodeck Metal Works
  • Hangzhou Singer Building Materials Co Ltd
  • Holcim Ltd
  • Compagnie de Saint Gobain SA
  • Owens Corning
  • Everest Industries Ltd
  • TAMKO Building Products LLC

  • Roofing Market Players Density: Understanding Its Impact on Business Dynamics

    The Roofing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Roofing Market are:

    1. JSW Steel Ltd
    2. Hindalco Industries Ltd
    3. Siam Cement PCL
    4. PT Utomodeck Metal Works
    5. Hangzhou Singer Building Materials Co Ltd
    6. Holcim Ltd

    Disclaimer: The companies listed above are not ranked in any particular order.


    roofing-market-cagr

    • Get the Roofing Market top key players overview

    Roofing Market News and Recent Developments

    The roofing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the roofing market are listed below:

    • Russell Roof Tiles (RRT), a concrete roof tile manufacturer, has announced an £18.5 million (US$ 22.8 million) investment in a new factory, doubling output at its Burton site. The company supplies products for housebuilders, and high-profile social housing and commercial projects. It produces thousands of concrete roof tiles and accessories used on roofs every week. The expansion will help Russell Roof Tiles meet the burgeoning demand for its products to satisfy the UK's house-building industry. The new project at the Burton site represents a multinational coordination of suppliers from Sweden, Denmark, Germany, and British suppliers. The investment will create 25–30 skilled and semi-skilled jobs in engineering and maintenance. (Source: Russell Building Products Limited, Press Release, May 2023)

    Roofing Market Report Coverage and Deliverables

    The "Roofing Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

    • Roofing market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Roofing market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter's Five Forces and SWOT analysis
    • Roofing market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the roofing market
    • Detailed company profiles

    Frequently Asked Questions

    What is the expected CAGR of the roofing market?

    The market is estimated to register a CAGR of 4.5% during 2023–2031.

    What would be the estimated value of the roofing market by 2031?

    The market is projected to reach US$ 379.33 billion by 2031.

    What are the future trends of the roofing market?

    The increasing focus on green roofing is emerging as a significant trend in the market.

    Which are the leading players operating in the roofing market?

    JSW Steel Ltd, Hindalco Industries Ltd, Siam Cement PCL, PT Utomodeck Metal Works, Hangzhou Singer Building Materials Co Ltd, Holcim Ltd, Compagnie de Saint Gobain SA, Owens Corning, Everest Industries Ltd, TAMKO Building Products LLC, GAF Inc, Roofseal (M) Sdn Bhd, Atlas Roofing Corp, Maruhachi Ceramics of America Inc, and Union Galvasteel Corp are a few of the key players operating in the roofing market.

    What are the driving factors impacting the roofing market?

    The rising demand from residential and commercial sectors drives the market growth.

    Which region dominated the roofing market in 2023?

    Asia Pacific dominated the market in 2023.

    Habi Ummer
    Habi Ummer
    Manager,
    Market Research & Consulting

    Habi is a seasoned Market Research Analyst with 8 years of experience specializing in the Chemicals and Materials sector, with additional expertise in the Food & Beverages and Consumer Goods industries. He is a Chemical Engineer from Vishwakarma Institute of Technology (VIT) and has developed deep domain knowledge across industrial and specialty chemicals, paints and coatings, paper and packaging, lubricants, and consumer products. Habi’s core competencies include market sizing and forecasting, competitive benchmarking, trend analysis, client engagement, report writing, and team coordination—making him adept at delivering actionable insights and supporting strategic decision-making.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

    Testimonials

    user

    I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.

    DR CHIJIOKE ONYIA, MANAGING DIRECTOR, PineCrest Healthcare Ltd.
    user

    The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services

    Yukihiko Adachi CEO, Deep Blue, LLC.

    Reason to Buy

    • Informed Decision-Making
    • Understanding Market Dynamics
    • Competitive Analysis
    • Customer Insights
    • Market Forecasts
    • Risk Mitigation
    • Strategic Planning
    • Investment Justification
    • Identifying Emerging Markets
    • Enhancing Marketing Strategies
    • Boosting Operational Efficiency
    • Tracking Industry Innovations
    • Aligning with Regulatory Trends
    Your Key Concerns Addressed - Question & Answer
    Can I view a sample of the report before purchasing?

    Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.

    Is analyst support included with the purchase?

    Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.

    What are the next steps once I place an order?

    Once your order is successfully placed, you will receive a confirmation email along with your invoice.

    • For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
    • For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.

    Can the report be tailored to suit my specific needs?

    We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.

    In what format is the report delivered?

    The report is available in either PDF format or as an Excel dataset, depending on the license you choose.

    The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
    Please review the license options at checkout or contact us to confirm which formats are included with your purchase.

    How secure is the payment process on your platform?

    Our payment process is fully secure and PCI-DSS compliant.

    We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
    You can make your purchase with confidence, knowing your personal and financial information is safe with us.

    Do you provide special pricing for buying multiple reports?

    Yes, we do offer special pricing for bulk purchases.
    If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.

    Can I connect with your team to discuss the report before buying?

    Yes, absolutely.
    Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.

    Will I get a billing invoice upon purchase?

    Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
    If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.

    Is there support available if I can’t access my report?

    Yes, certainly.
    If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.

    Our Clients
    Roofing Market
    Connect With Expert

    The List of Companies - Roofing Market

    • JSW Steel Ltd
    • Hindalco Industries Ltd
    • Siam Cement PCL
    • PT Utomodeck Metal Works
    • Hangzhou Singer Building Materials Co Ltd
    • Holcim Ltd
    • Compagnie de Saint Gobain SA
    • Owens Corning
    • Everest Industries Ltd
    • TAMKO Building Products LLC
    • GAF Inc
    • Roofseal (M) Sdn Bhd
    • Atlas Roofing Corp
    • Maruhachi Ceramics of America Inc
    • Union Galvasteel Corp
    Sales Assistance
    US: +1-646-491-9876
    UK: +44-20-8125-4005
    Email: sales@theinsightpartners.com
    Chat with us
    DUNS Logo
    87-673-9708
    ISO Certified Logo
    ISO 9001:2015
    ISO Certified Logo