Asia Pacific to Dominate Metal Roofing Market
the roofing market will be worth USD 136.9 billion, with a CAGR of 4.85% over the forecast period
The global metal roofing market is expected to grow at a robust growth rate over the forecast period, according to the latest research report from Market Research Future (MRFR). The global metal roofing market is expected to grow at a robust growth rate mainly due to the growing prospects of the construction industry in emerging regions, according to the report. The report profiles the major drivers and restraint affecting the global metal roofing market, as well as the leading players and other factors and trends affecting the market’s movement. The leading players in the global metal roofing market are profiled in great detail in the report in order to give readers a comprehensive overview of the market’s competitive landscape.
Metal roofing is a highly popular form of roofing, and is becoming ever more popular due to the growing construction industry in emerging regions. Metal roofing presents several benefits over other roofing materials such as wood, as it is more robust than wooden roofing and lasts longer. It also provides a more robust resistance against rainwater than wood, which can leak rainwater during heavy rains. Such benefits of metal roofing have been key to the growing prospects of the metal roofing market over the last few years.
Growing urban immigration from rural areas has led to a growing demand for residential construction in several emerging economies. As the urbanization in such countries, including China, India, Mexico, and Brazil, is not at a completed stage, more rural emigrants are expected to join the urban workforce in the coming years. This is likely to be a major driver for the construction industry in emerging economies over the forecast period. Rural emigration is relatively low in developed regions such as North America and Western Europe, but is still likely to constitute a key driver for the global metal roofing market over the forecast period. Increasing commercial and industrial construction in emerging economies is also likely to be a major driver for the global metal roofing market over the forecast period.
Roofing Market Competitive Leaderboard:
Leading players in the global metal roofing market include The OmniMax International Inc., Carlisle SynTec Systems, BlueScope Steel Limited, DECRA Roofing Systems Inc., Firestone Building Products Company, ATAS International Inc., Reed’s Metals Inc., Ideal Roofing Co. Ltd., Jinhu Color Aluminum Group, Metal Sales Manufacturing Corporation, and ABC Supply Co. Inc. Leading players in the global metal roofing market are likely to focus on developing efficient metal roofing solutions in the coming years.
Roofing Market Segmentation:
The global metal roofing market is segmented on the basis of product type, metal type, application, and region.
By product type, the global metal roofing market is segmented into standing seam roofing, metal tiles, shingles, and shakes, corrugated panels, plain panels, and others.
By metal type, the global metal roofing market is segmented into steel roofing, copper roofing, aluminum roofing, zinc roofing, tin roofing, and others.
By application, the global metal roofing market is segmented into residential, commercial, and industrial. All three segments of the market are likely to grow over the forecast period, as the demand for all types of construction is likely to grow over the forthcoming years. Growing urbanization in emerging economies is likely to remain a major driver for all three types of construction over the forecast period.
Roofing Market Regional Analysis:
Asia Pacific holds the largest share in the global metal roofing market and is expected to exhibit the highest growth rate over the forecast period. Asia Pacific is a hot spot for significant emigration from rural to urban regions, due to the growing urban landscape in the region. This is likely to drive the demand for all types of construction in the region over the forecast period. Residential construction is likely to remain at the forefront of the metal roofing market in Asia Pacific, as the demand for housing to accommodate the increasing number of rural emigrants is likely to grow over the forecast period.
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