Global Roofing Market to Reach $116.4 Billion by 2030: Asphalt Shingles and Metal Roofing Dominate Growth

PR Newswire
8 min read

DUBLIN, Oct. 12, 2023 /PRNewswire/ -- The "Roofing - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

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The global roofing market, valued at $78 billion in 2022, is projected to grow to $116.4 billion by 2030, at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.

The market analysis highlights key segments, including asphalt shingles and metal roofing, which are expected to experience substantial growth.

Market Trends and Opportunities

  • Asphalt Shingles Growth: The asphalt shingles segment is projected to record a 4.9% CAGR, reaching $35.8 billion by the end of the analysis period. Asphalt shingles are a popular roofing choice due to their cost-effectiveness and durability.

  • Metal Roofing Expansion: The metal roofing segment is estimated to grow at a CAGR of 6.1% over the next eight years. Metal roofing offers long-term performance and is increasingly chosen for its sustainability and energy efficiency.

Regional Insights

  • U.S. Market: The roofing market in the U.S. is estimated at $18 billion in 2022.

  • China's Growth: China, the world's second-largest economy, is forecast to reach a market size of $26 billion by 2030, with a CAGR of 6.6% during 2022-2030.

  • Other Noteworthy Markets: Japan and Canada are expected to grow at 3.6% and 4.3%, respectively, over the 2022-2030 period. Germany, within Europe, is forecast to grow at approximately 4.3% CAGR.

Key Competitors

The roofing market features 128 featured competitors. Some of the key players include:

  • Carlisle Companies, Inc.

  • Atlas Roofing Corporation

  • American Hydrotech, Inc.

  • Axter Ltd.

  • ARTWOOD SRL

  • Alton Industrial Pty Limited

  • Arkistruct Pty Ltd

  • Blachotrapez

  • Architectural Panels Pty Ltd

  • Asc Profiles, Inc.

  • Bilka Steel SRL

  • Alliance Design and Development Group, Inc.

  • Agway Metals Inc.

  • Boato International S.P.A. Con Socio Unico

  • Aluform System GmbH & Company KG

Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected in the near term. While various challenges persist, including geopolitical uncertainties and inflation concerns, countries and governments are adapting to weather these challenges.

New technologies such as AI, machine learning, renewables, and quantum technologies are expected to drive incremental growth and value to the global GDP in the coming years. The short-term economic landscape presents a mix of challenges and opportunities for both consumers and investors, with resilient and adaptable businesses poised to seize opportunities.

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