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Metal Roofing Market Maturity
Driving this growth is the escalating demand for metal roofing across various industries, buoyed by its numerous advantages, alongside government.
Increase in demand for metal roofing with its benefits in different industries and support from governments for construction projects drive the growth of the global metal roofing market.” - David Correa
WILMINGTON, DELAWARE, UNITED STATES, April 19, 2024 /EINPresswire / -- The global metal roofing market saw significant growth, with revenues reaching $23.8 billion in 2020, and is expected to climb to $33.5 billion by 2030, reflecting a steady CAGR of 3.5% from 2021 to 2030, according to a report by Allied Market Research. The report provides a comprehensive analysis of evolving market trends, key segments, investment opportunities, value chains, regional dynamics, and competitive landscapes.
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Driving this growth is the escalating demand for metal roofing across various industries, buoyed by its numerous advantages, alongside government support for construction initiatives. However, the market faces constraints due to the availability of alternative roofing materials. Nonetheless, burgeoning construction activities in developing nations offer promising prospects for market expansion in the foreseeable future.
The COVID-19 pandemic disrupted construction activities worldwide, leading to a temporary halt in projects and affecting metal roofing demand. Manufacturing operations faced challenges such as raw material shortages, labor shortages, and supply chain disruptions during lockdowns. Nonetheless, post-lockdown, manufacturing activities are anticipated to rebound.
The report delves into detailed market segmentation based on metal type, product variation, end-user industries, and geographical regions.
In terms of metal type, steel dominated the market in 2020, contributing over two-fifths of the total share, and is expected to maintain its prominence throughout the forecast period. However, the zinc segment is poised for the highest CAGR of 4.4% from 2021 to 2030.
The commercial sector held the largest share in 2020 among end-users, accounting for nearly two-fifths of the total market share. Conversely, the residential segment is forecasted to exhibit the highest CAGR of 4.2% from 2021 to 2030.
Regionally, Asia-Pacific led the market in 2020, capturing almost two-fifths of the global market share and is projected to maintain its dominance through 2030. Furthermore, the Asia-Pacific region is anticipated to register the fastest CAGR of 3.9% during the forecast period.
Key players in the global metal roofing market, such as Metal Sales Manufacturing Corporation, Ideal Roofing Co. Ltd., Jinhu Color Aluminum Group, and others, are thoroughly analyzed in the report.
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David Correa
Allied Market Research
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