by Metal roofing is commonly used commercial roofing material used in the construction of industrial, commercial and residential buildings. Made from various metals including steel, copper, aluminum, and zinc, metal roofs are known for their durability and protective benefits against harsh weather conditions such as high winds, extreme heat and heavy precipitation. Metal roofs are the preferred choice for steep slope roofing as they do not absorb water and do not rot or become brittle with aging. They are more sustainable than other materials such as asphalt shingles as they can last over 50 years with little to no maintenance. In addition to durability, metal roofing is increasingly gaining popularity due to its variety of aesthetically appealing designs and variety of colors and textures available.
The global metal roofing market is estimated to be valued at US$ 9.5 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand for aesthetically appealing metal roofs from both commercial and residential sectors is expected to drive the growth of the metal roofing market over the forecast period. Metal roofs are known for their unique textures, bold colors and stately looks that add visual appeal to buildings. They are a popular choice for eco-friendly, energy efficient roofing solutions with benefits like longevity and sustainability. Furthermore, rising commercial construction activities across various industries such as warehouse buildings, manufacturing facilities, healthcare facilities are also expected to support the demand for durable and protective metal roofing materials. However, higher initial costs of metal roofing compared to conventional materials may hinder market growth.
Segment Analysis
The global metal roofing market is dominated by the steel sub-segment. Steel is the most commonly used material for metal roofing systems due to its affordability and durability. Steel roofing provides rust resistance and lifespan of around 50 years without major maintenance requirements. The steel used in roofing is coated with different materials like aluminium, zinc, tin etc. to provide corrosion resistance and aesthetics. Among these, steel roofing coated with aluminium accounts for over 30% share due to aluminium’s ability to withstand extreme weather and temperatures while retaining metallic shine and luster over long period of time.
PEST Analysis
Political: The metal roofing market is heavily regulated by building codes and standards set by governments. Favourable policies supporting use of sustainable and energy efficient roofing materials are boosting market growth.
Economic: Higher costs of installation compared to traditional roofing materials acts as a restraint. However, lower maintenance and replacement costs along with energy savings over the long run make metal roofing an attractive economic choice.
Social: Increasing consumer preference for roofing styles that replicate the look of traditional materials like wood, clay etc. is driving demand for coated metal roofing systems in different aesthetics. Also, rising disposable incomes allow for premium priced metal roofing investments.
Technological: Advancements in coating technologies have enhanced metal roof’s durability, complexity of installation hardware improved convenience. New nano-additives in coatings provide self-cleaning properties and temperature regulation within buildings for comfort.
Key Takeaways
The Global Metal Roofing Market Growth is expected to witness high over the forecast period supported by rising residential and commercial construction spending, especially in developing Asian economies. The global metal roofing market is estimated to be valued at US$ 9.5 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023-2030.
Regional analysis indicates Asia Pacific accounts for around 40% market share currently led by China, India and other Southeast Asian markets. Growth in the region remains driven by booming real estate and infrastructure development accompanied by increased consumer acceptance of metal roofing aesthetic appeal and performance benefits over traditional materials.
Key players operating in the metal roofing market are Tata Steel (Tata Group), BlueScope Steel Limited, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co. Ltd., Drexel Metals Inc. (Carlisle SynTec Inc), and Reed’s Metals. Leading manufacturers are focusing on expanding production capacities and capabilities through mergers and acquisitions to strengthen market position.
New product launches catering to regional design preferences and climatic conditions as well as partnerships with construction companies are other common strategies adopted.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
