PRESS RELEASE
Released May 15, 2023
Roofs represent the top covering of a building made of different materials like bitumen, metals, bricks, plastics, etc. They can be broadly classified into two types including flat roofs and pitched roofs. These roofing systems significantly add value to buildings, improve their stability and provide protection from harsh environmental conditions. They even help extend the overall lifespan of a building structure. Consequently, roofing materials find extensive application in residential, commercial and industrial establishments across India.
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How big is the Indian roofing market:
- Market size value in 2022: $6.54 billion
- Industry Revenue Forecast in 2028: $9.65 billion
- growth rate: 6.64%
- Base year of estimate: 2022
- Historical data: 2017-2022
- Forecast period: 2023-2028
Driving Factors of Indian Roofing Industry and Future Demand Analysis:
The increasing demand for housing units and housing for individuals due to the growing population and the introduction of numerous infrastructure development projects by public and private agencies are driving the Indian roofing market in particular. Add to this the increasing spending by leading market players on new product innovations and the introduction of corrugated and polycarbonate roofing sheets that are easy to install in large commercial or industrial buildings, offer improved weather resistance and durability, and come in a variety of designs with low-maintenance textures too had a positive impact on the Indian market. In addition, the emerging trend of using translucent roofing panels in conservatories, patios and places where natural light needs to penetrate through the roof, as well as the increasing use of laser printing technology to manufacture the large structural parts of roofs are acting as significant growth-enhancing factors. Furthermore, increasing urbanization and increasing investments in research and development (R&D) activities by major product manufacturers to develop sustainable roofing materials are expected to boost the Indian roofing market in the coming years.
List Of Leading Roofing Companies In India:
- Bansal Roofing Products Limited
- CK Birla Group
- Everest Industries Ltd.
- Hindalco Industries Limited (Aditya Birla Group)
- JSW Steel Coated Products Limited (JSWSCPL)
- Tata BlueScope Steel Private Limited
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