Wilmington, Delaware, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global metal roofing market is estimated to flourish at a CAGR of 5.3% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for metal roofing is estimated to reach US$ 25.8 billion by the end of 2031.
Amidst the metal roofing market’s evolution, emerging drivers are shaping industry dynamics. A significant factor is the growing focus on circular economy principles. Companies are increasingly emphasizing circularity by employing recycled materials and implementing efficient waste management throughout the metal roofing lifecycle. The promotion of cradle-to-cradle approaches, encouraging the reuse and recycling of metal roofing components, plays a pivotal role in sustainability efforts.
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Changing insurance industry practices constitute an emerging driver. The heightened frequency of extreme weather events prompts insurance companies to incentivize metal roofing installations. Premium discounts or policy incentives for structures with durable, weather-resistant metal roofs encourage consumers to opt for these solutions.
The influence of evolving regulatory frameworks and building codes drives the metal roofing market. Stricter regulations mandating the use of energy-efficient and long-lasting roofing materials further bolster the demand for metal roofing solutions, fostering industry growth by aligning with governmental sustainability goals.
Metal Roofing Market: Competitive Landscape
The metal roofing market features intense competition driven by key players such as NCI Building Systems (now Cornerstone Building Brands), CertainTeed Corporation, and Owens Corning. These industry giants dominate with a diverse portfolio, offering high-quality metal roofing solutions, including steel, aluminum, and copper options.
ASC Profiles LLC and ATAS International Inc. emerge as prominent players, specializing in innovative roofing systems catering to commercial and residential sectors. Regional players like Kingspan Group and Tata BlueScope Steel capture niche markets, leveraging technological advancements and sustainability initiatives.
With a focus on durability, energy efficiency, and aesthetics, competition remains fierce, fostering continuous innovation and market expansion in the Metal Roofing industry. Some prominent manufacturers are as follows:
- Owens Corning
- Saint-Gobain S.A.
- Carlisle Companies Inc.
- ATAS International Inc.
- Tegral Building Products Ltd.
- Etex
- Safal Group
- Sunlast Metal Inc.
- Metal Sales Manufacturing Corporation
- Thompson Architectural Metals Co (TAMCO)
- SKC Thailand Co. Ltd.
- CSR Limited
- Coastal Metal Service
- Worthouse
Product Portfolio
- Owens Corning presents a diverse product portfolio, focusing on insulation, roofing, and fiberglass composites. Their offerings cater to construction, automotive, and industrial sectors, emphasizing innovation and sustainability in high-quality building materials.
- Saint-Gobain S.A. offers a comprehensive portfolio of construction materials, including glass, ceramics, and plastics. Their products serve diverse industries, emphasizing sustainable solutions and technological advancements in building and high-performance materials.
- Carlisle Companies Inc. offers a versatile product line encompassing roofing systems, waterproofing solutions, and specialty materials. Their portfolio caters to construction, aerospace, and industrial sectors, prioritizing quality and innovation in durable building materials.
Key Findings of the Market Report
- Steel dominates the metal roofing market due to its affordability, durability, and wide range of applications in diverse construction projects.
- Standing seam remains the leading flat seam segment in the metal roofing market due to its popularity, versatility, and durability.
- Renovation dominates the metal roofing market due to increased retrofitting demands and refurbishment projects in existing structures.
Metal Roofing Market Growth Drivers & Trends
- Increasing emphasis on eco-friendly building practices drives demand for recyclable and energy-efficient metal roofing materials, aligning with green construction trends.
- Rising occurrences of severe weather conditions propel the adoption of durable metal roofs, offering better resistance against hurricanes, hailstorms, and wildfires.
- Rapid urban expansion and infrastructural projects in emerging economies fuel demand for long-lasting metal roofing solutions, particularly in commercial and industrial sectors.
- Innovations in coatings and manufacturing techniques enhance metal roofing’s durability, aesthetics, and energy efficiency, contributing to market growth.
- Increasing architectural diversity and preference for modern designs drive the popularity of metal roofing, offering versatile styles and color options for residential and commercial structures.
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Global Metal Roofing Market: Regional Profile
- North America boasts a substantial market share, driven by stringent building codes, weather extremities, and the emphasis on sustainable construction. Leading players like NCI Building Systems (now Cornerstone Building Brands) and CertainTeed Corporation cater to diverse residential and commercial roofing needs with a focus on energy efficiency and durability.
- In Europe, metal roofing gains traction due to its longevity and design versatility, particularly in countries like Germany and the United Kingdom. Companies such as Kingspan Group and Tata BlueScope Steel offer innovative solutions meeting stringent regulatory requirements and architectural preferences.
- The Asia Pacific shows substantial growth prospects, owing to rapid urbanization and infrastructure development, especially in China and India. ASC Profiles LLC and ATAS International Inc. capitalize on the region’s demand for cost-effective, durable roofing solutions, promoting metal roofing’s benefits in terms of longevity and resistance to natural disasters.
Metal Roofing Market: Key Segments
By Metal Type
- Steel
- Aluminum
- Copper
- Others (Tin, Zinc, and Titanium)
By Flat Seam
- Batten Seam
- Standing Seam
- Corrugated
- Others (including Shingles, Panels, and Through-fastened Metal Roofing)
By Construction Type
- New Construction
- Renovation
By End User
- Residential
- Commercial
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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