ROOFING MATERIALS MARKET ANALYSIS

Roofing Materials MarketSize and Trends

The global roofing materials market size was valued at US$ 126.24 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. Several factors are driving the global roofing materials market, including the rising population and the growth in industrial activity. Moreover, increasing government expenditure on infrastructure projects is anticipated to fuel revenue growth. In addition, technological advancements and the emergence of innovative business models are further projected to boost the demand for roofing materials in commercial buildings, thereby fueling market growth.

Global Roofing Materials Market Trends:

Emergence of reflective coatings is a growing trend

The emergence of reflective coatings is expected to be a positive factor in the global roofing materials market. These products allow for superior heat reflection, thereby reducing the consumption of energy. These products are also gaining popularity in commercial buildings for their superior aesthetics and durability.

Laws governing energy-efficient homes

Laws governing energy-efficient homes and the rise in consumer concern about green buildings are expected to create ways for product adoption in the near future. Besides, the growth in residential constructions has led to the need for newer roofs with advanced features. Roofing materials manufacturers are investing in manufacturing fire-resistant roofs that can withstand a large variety of environmental conditions.

Global Roofing Materials Market Segmentation:

The global roofing materials market report is segmented into product, application, and region

Figure 1. Global Roofing Material Market By Region, 2022