METAL ROOFING MARKET ANALYSIS

Regional Analysis

Market Outlook

Asia Pacific is expected to witness significant growth in metal roofing market over the forecast period, owing to increasing population, steady urbanization, and growth of the construction industry in the region. According to the United Nations, Department of Economic and Social Affairs article published in 2018, the urban population across the globe has increased rapidly to 4.2 billion in 2018 up from 751 million in 1950. Asia Pacific recorded lower level of urbanization as compared to other countries across the globe, however contributed for 54.0% of world’s urban population, followed by Europe and Africa accounting for 13%, respectively in 2018.

Moreover, according to the India Brand Equity Foundation (IBEF), India’s real estate industry was valued at US$ 120 billion in 2017 and is expected to reach US$ 1 trillion by end of 2030. Growing construction industry with increasing demand for durable and strong roofing systems is expected to drive growth of the metal roofing market over the forecast period.