DUBAI, UAE, Jan. 9, 2024 /PRNewswire/ -- According to a recent report by Kings Research, the global Metal Roofing Market registered revenue of USD 20.47 billion in 2022 and is projected to reach USD 30.13 billion in revenue by 2030, growing at a 4.95% CAGR from 2023 to 2030. The growth of the global metal roofing industry is bolstered by increasing construction activities, a growing demand for durable and energy-efficient roofing solutions, and the advantages of metal roofs in terms of longevity, aesthetics, and sustainability. Widely used in residential, commercial, industrial, and agricultural structures, metal roofs offer superior weather protection, fire resistance, durability (often exceeding 50 years), and low maintenance. Additionally, their reflective properties reduce heat absorption, contributing to energy efficiency, which appeals to environmentally conscious consumers and building owners.
Metal roofing is a roofing material primarily composed of metal, providing numerous benefits compared to traditional materials like asphalt, tile, and wood. Renowned for their durability, metal roofs often outlast other roofing materials by two to three times. They exhibit resistance to various harsh elements, including fire and hail. In simple terms, metal roofing means using metal sheets or panels to cover the roof. Metal roofing has become popular around the world because it offers several advantages over older roofing materials. These benefits include long-lasting durability, energy efficiency, minimal upkeep, and eco-friendliness.
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Trending Now: National Hispanic Contractors Association Joins Forces with International Roofing Expo
In October 2023, the National Hispanic Contractors Association (NAHICA) teamed up with the International Roofing Expo (IRE), a property of Informa Markets U.S. The partnership was designed to enhance the presence and backing of Hispanic contractors in the roofing industry, offering them access to valuable resources and opportunities available at the IRE.
Competitive Landscape
Prominent companies in the metal roofing market are actively pursuing various strategic approaches, including forming partnerships, engaging in mergers and acquisitions, innovating their product types, and establishing joint ventures. These strategies are aimed at broadening their product portfolios and enhancing their market presence across diverse regions.
For instance, in January 2021, Mueller Industries, Inc. finalized a binding agreement to acquire the Hart & Cooley Flexible Duct business.
Key players profiled in the global metal roofing market include:
- Metal Sales Manufacturing Corporation
- Mueller, Inc.
- Lifetite
- Fletcher Building
- Cornerstone Building Brands
- ASC Profiles LLC.
- ATAS International, Inc.
- CERTAINTEED
- TATA BLUESCOPE STEEL PRIVATE LIMITED.
- MCELROY METAL
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Rising Adoption of Steel Metal Type to Boost Metal Roofing Market Growth
In terms of metal type, the metal roofing market is bifurcated into aluminum, copper, zinc, steel, and other metals.
The steel segment is poised to exert dominance in terms of revenue share over the review period from 2023 to 2030. This is attributed to its high rate of adoption and comparatively lower price volatility as opposed to other raw materials. Conversely, aluminum is expected to exhibit rapid growth through the forecast period, primarily due to its enhanced capabilities and adaptability to varied climatic conditions.
Extensive Adoption of Infrastructure in Commercial and Residential End-Users Propels Market Advancement
Based on end-user, the market is further categorized into residential, commercial, agricultural, and industrial segments.
The commercial and residential segments are expected to hold the largest revenue shares on a global scale by the end of the assessment timeline. This prominence is driven by widespread product adoption and the development of infrastructure in underdeveloped and emerging countries on a global scale.
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Rising Emphasis on Sustainable Construction Practices to Spur Metal Roofing Market Growth
The global metal roofing market is driven by a rising emphasis on sustainable construction practices. Metal roofing gains favor as an eco-friendly choice due to its recyclability, energy efficiency, and compatibility with solar panel integration. With sustainability initiatives and regulatory measures gaining momentum, the demand for metal roofing is poised to witness significant growth.
Another catalyst for market expansion is the surging popularity of metal roofs in emerging economies, which presents a substantial opportunity for an increase in industry revenue. Rapid urbanization, infrastructural development, and increasing disposable incomes in these countries contribute to the mounting adoption of metal roofing systems. Additionally, innovations in roofing types have spurred product development within the market.
Emphasis on Sustainability and Energy Efficiency in North America to Propel Metal Roofing Market Expansion
North America is a major contributor to the global metal roofing market due to its increasing focus on sustainable construction practices, coupled with the distinct advantages that metal roofs offer. This has resulted in a notable uptick in demand for metal roofing products. Additionally, the region benefits from advanced manufacturing technologies and the presence of major industry players, both of which have been pivotal in fueling market growth.
Moreover, the region's vulnerability to extreme weather conditions serves as one of the primary drivers for expanding the industry. Metal roofs have demonstrated remarkable resilience and durability, making them a top choice for areas prone to hurricanes, snowstorms, and heavy rainfall. Furthermore, the emphasis on sustainability and energy efficiency in North America has driven the demand for metal roofs. The region has witnessed a significant surge in green building initiatives and energy-efficient construction practices.
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Increased Emphasis on Sustainability in Europe to Supplement Metal Roofing Market Progress
Regionally, the Europe metal roofing industry is primed to register robust growth through the forecast period. Soaring emphasis on sustainability, stringent building regulations, and the demand for energy-efficient solutions are pivotal factors fostering the growth of the metal roofing market. The commitment to reducing carbon emissions and addressing climate change, particularly in countries such as Germany and the United Kingdom, fuels the demand for metal roofs. These nations encourage solar panel installations on metal roofs to support clean energy goals. Moreover, the aesthetic preferences and architectural heritage in Europe contribute to the popularity of metal roofs, which offer design flexibility for modern and visually appealing structures. The versatility of materials like steel and copper enables the preservation of historic buildings, ensuring durable and long-lasting protection.
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Key Points from TOC:
1 Introduction of The Global Metal Roofing Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 Executive Summary
3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
4 Global Metal Roofing Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
5 Impact of Russia-Ukraine War
6 Global Metal Roofing Market, By Product Type
7 Global Metal Roofing Market, By Metal Type
8 Global Metal Roofing Market, By End User
9 Global Metal Roofing Market, By Geography
10 North America
11 Europe
12 Asia Pacific
13 Middle East & Africa
14 Latin America
15 Global Metal Roofing Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
16 Company Profiles
16.1 Metal Sales Manufacturing Corporation
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Type Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Mueller, Inc.
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Type Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Lifetite
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Type Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Fletcher Building
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Type Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Cornerstone Building Brands
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Type Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Continued………
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