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Key players in the steel roofing market are Metal Sales Manufacturing Corporation, Jinhu Color Aluminum Group, Ideal Roofing Co Ltd., Reed’s Metals Inc., ATAS International Inc., DECRA Roofing Systems Inc.
NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the Steel Roofing Global Market Report 2023 – https://www.reportlinker.com/p06433656/?utm_source=GNW
Firestone Building Products, Carlisle SynTec Systems, BlueScope Steel Limited, The OmniMax International Inc., Tata Steel, ABC Supply Co Inc., Corner Stone Building Brands, Bilka, Mcelroy Metals, Nucor Building Systems and the Safal Group.
The global steel roofing market grew from US$4.15 billion in 2022 to US$4.26 billion in 2023 at a compound annual growth rate (CAGR) of 2.8%. The Russia-Ukraine war has, at least in the short term, disrupted the chances of a global economic recovery from the COVID-19 pandemic. The war between these two countries has resulted in economic sanctions against several countries, a surge in commodity prices and supply chain disruptions, leading to inflation in goods and services and affecting many markets around the world. The steel roofing market is expected to grow to US$4.56 billion by 2027 at a CAGR of 1.7%.
The steel roofing market consists of the sale of weathering steel, galvanized and galvalume steel roofing. Values in this market are “factory gate” values (i.e. downstream manufacturers, wholesalers, distributors and retailers) or direct to end customers.
The value of goods in this market includes the related services sold by the creators of the goods.
A steel roof refers to a type of roofing system made up of steel parts or tiles. Steel roofs are specially designed to last longer than any other roofing material.
The installation of the steel roofs offers aesthetics, energy efficiency and durability and prevents leaks. The steel roofs can be recycled.
Western Europe was the largest region in the steel roofing market in 2022. Asia Pacific is projected to be the fastest growing region during the forecast period.
The regions covered in Steel Roofing Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of steel roofing are color coated sheet, galvanized sheet, curved sheet, tiled sheet and other types. Color coated roofing sheets are coated with different colors through a chemical process.
The types of construction are new construction and renovation. They are used by end users in residential, commercial, agricultural and industrial sectors.
An increase in investments in the construction of residential buildings is expected to drive the growth of the steel roofing market in the future.
This construction includes one or more family houses, dwellings or dwellings. Steel roofing material is used in the construction of residential buildings to cover the roofs and it lowers the cost of construction.
For example, according to Invest India, an India-based investment consultancy, foreign direct investment (FDI) in building development sector and construction activities amounted to US$26.16 billion in 2021. Infrastructure activities contribute 13% to total foreign direct investment (FDI) inflows, equivalent to US$81.12 billion. Hence, an increase in investment in residential construction construction is driving the growth of steel roofing market.
Product innovation is the key trend gaining popularity in the steel roofing market. Large companies operating in the market introduce new product innovations.
For example, ProVia, a US-based manufacturer of doors and roofing, launched a new line of metal roofing products in January 2021. The company’s new metal roofing combines the elegance and beauty of slate or cedar with the toughness and durability of a highly engineered galvanized steel roofing system.
ProVia’s metal plates are 10% thicker than the industry standard (28-30 gauge), use 26 gauge (G90) hot-dip galvanized steel, and weigh up to three times less than asphalt shingles. Backed by a lifetime guarantee on coating integrity and a 40-year guarantee against chalking and fading, GalvaTecTM’s unique four-part Kynar paint system offers long-lasting performance.
In February 2022, Tata Steel, an India-based steel and steel equipment manufacturer, acquired NINL (Neelachal Ispat Nigam Limited) for a transaction amount of US$1.6 billion. The acquisition is aimed at broadly expanding the steel plant, iron ore reserves and land area that can accommodate capacity expansions for Tata Steel. Neelachal Ispat Nigam Limited is an India-based government company that manufactures steel bars and roofing sheets.
The countries covered in Steel Roofing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Market value is defined as the revenue earned by businesses from the sale of goods and/or services within the specified market and region through sales, grants or donations in currency (in USD unless otherwise noted).
The revenue for a specific region are consumption values, which are revenue generated by organizations in the specific region within the market, regardless of where they are produced. Proceeds from resales down the supply chain, either further down the supply chain or as part of other products, are not included.
The Steel Roofing market research report is one of a series of new reports that provide Steel Roofing market statistics, including Global Steel Roofing industry market size, regional shares, competitors with Steel Roofing market share, detailed Steel Roofing market segments, market trends and opportunities, and all further data, you may need to be successful in the steel roofing industry. This Steel Roofing Market Research Report provides a complete overview of everything you need with in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433656/?utm_source=GNW
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