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Metal Roofing market Analysis
Increase in demand for metal roofing with its benefits in different industries and support from governments for construction projects drive the growth.
WILMINGTON, DE, UNITED STATES, September 7, 2024 /EINPresswire / -- The global metal roofing market , according to a report by Allied Market Research, was valued at $23.8 billion in 2020 and is projected to reach $33.5 billion by 2030, growing at a CAGR of 3.5% from 2021 to 2030. Key factors driving this growth include rising demand for metal roofing across various industries and governmental support for construction projects. However, market expansion is hindered by the availability of alternatives, though opportunities arise from the construction industry's growth in developing countries.
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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. Asia-Pacific held the highest share in 2020, and is estimated to continue its leadership status by 2030. Owing to lockdown measures in different countries during the Covid-19 pandemic, there has been stoppage of construction activities and impact on metal roofing demand.
Key insights include:
- Metal Type: Steel accounted for the largest market share in 2020, contributing over 40%, while the zinc segment is expected to grow at the fastest CAGR of 4.4% during the forecast period.
- End-User: The commercial segment led the market in 2020, representing about 40% of the total share, but the residential sector is anticipated to grow at the highest CAGR of 4.2%.
- Regional Analysis: Asia-Pacific dominated the market with nearly 40% of the total share in 2020, and it is projected to have the fastest growth rate of 3.9% over the forecast period.
The commercial segment contributed to the largest share in 2020, accounting for nearly two-fifths of the total share of the global metal roofing market, and is projected to continue its dominance during the forecast period. However, the residential segment is estimated to manifest the highest CAGR of 4.2% from 2021 to 2030.
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. Asia-Pacific held the highest share in 2020, and is estimated to continue its leadership status by 2030.
Leading players in the market include Metal Sales Manufacturing Corporation, Ideal Roofing Co. Ltd., Jinhu Color Aluminum Group, and others.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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