Metal Roofing Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4974
Metal Roofing Market size is anticipated to grow considerably from 2021 to 2027. Significant growth in the residential & commercial construction sectors along with increasing requirements from the industrial sector for more value from their investments in roofing construction drives the market growth. According to the American Society of Mechanical Engineers (ASME), in 2018, the U.S. manufacturing sector rose by around 7% to reach USD 2.4 billion, which accounted for around 11% of the U.S. GDP. Furthermore, the proliferating industrial sector in developing economies, such as India and Indonesia, among others, is driving the demand for metal roofing products.
Metal roofing is a roofing system made of metal tiles, panels, or pieces that are characterized by durability, longevity, high thermal efficiency, and impermeability. A wide range of materials are used in metal roofing; however, steel, copper, and zinc are among the commonly used materials.
Due to recent global events, such as wildfires in Australia and slipover effects in Canada and the U.S. that are suspectable to similar dangers, consumers have showcased an increased interest in metal roof options. Growing environmental concerns and the ability of low glare metal roofs to reflect around 85% solar heat enable users to save energy, thereby supporting metal roofing market demand. ENERGY STAR-qualified metal roofs, also known as Cool Roofs, are estimated to save energy by lowering roof temperature by up to 50%. According to the Environmental Protection Agency estimates, ENERGY STAR labeled cool roofs are capable of lowering roof temperature as much as 100-degree Fahrenheit. This showcases a large opportunity for the metal roofing industry expansion.
Aesthetics are one of the important factors in the installation of metal roofing solutions for a wide range of residential projects. Several industry players offer a wide range of color options that suit home designs and enhance the appearance of homes. Environmental benefits including recycled content and recyclability of products have enabled several domestic entities of the U.S. such as the department of natural resources and solid waste districts to include metal roof products in the list of green & recycled-content products. The new roof products have around 25% to 90% recycled contents. Furthermore, 100% recyclability of metal products enables their reuse in new metal roof products compared to conventional roofing products that directly go to landfills during restoration.
Fluctuating material prices coupled with the ongoing COVID-19 pandemic are expected to adversely affect the metal roofing market. The initial cost of metal roof solution ownership is around two to three times higher compared to conventional roofing products. The countrywide lockdown across the globe has resulted in the temporary closure of production facilities in Europe and Asia Pacific. Restrictions on the transport of non-essential goods in several countries during the first half of FY2020 have also adversely affected the market. However, vaccination camps have started in several countries, such as India, China, and the UK, among others, along with the start of new construction activities across the globe, fueling the market expansion.
Based on product, the metal roofing market is segmented into metal tiles, shingles, & shakes, corrugated panels, standing seam roofing, plain panels, and others. Standing seam roofing is likely to showcase considerable growth owing to the availability of a wide range of options, improved aesthetics, durability, and leakproof, among others. Furthermore, the installation of seam roofing differs from conventional roofing, allowing it to create a sung & solid covering that enables it to move under thermal expansion. The products are widely available in steel, zinc, copper, and aluminum materials.
Based on material, the market is categorized into steel, aluminum, copper, zinc, tin, and others. Steel is poised to dominate the industry driven by the availability of a wide range of product portfolio and large production of steel materials across the globe coupled with proliferating industrialization across Asia Pacific. The shift in industrial roofing from galvanized steel sheets to Zn-Al coated sheets due to improved thermal efficiency, durability, and aesthetics will further boost the market revenue.
Based on application, the metal roofing market is divided into residential, commercial, agricultural, and industrial applications. Residential application is projected to showcase significant growth on account of the rising demand for sustainable building solutions and the rising residential retrofitting sector in the U.S. and Europe. According to the Metal Roofing Alliance report, in 2018, the U.S. re-roofing residential sector from metal materials accounted for around 13% from 11% in 2017.
Europe is anticipated to hold considerable shares in the metal roofing market owing to stringent environmental regulations, growing demand for sustainable roofing solutions, and collaboration between universities & industry participants to develop new products. The popularity of metal roofing is high in certain cities of the region. For instance, zinc roofs are the special features of Parisian architecture. The city represents a large number of zinc roofs across the region and accounts for over 70% of the old structures. Furthermore, the UK is one of the most exposed countries to harsh environmental conditions in Europe. Growing industrialization and the presence of several industry players in the region will augment the market statistics.
The key players operating in the metal roofing market include Metal Sales Manufacturing Corporation, Ideal Roofing, Linyi Jinhu Color Coating Aluminum Industry Co., Ltd., Reed's Metals, DECRA Roofing Systems, Inc., ATAS International, Inc., and others. Some of the other manufacturers operating in the market are BlueScope Steel Limited, Carlisle Syntec Systems, Kingspan Group, Tata Steel, Drexel Metals Inc., etc. Collaborations with several universities for R&D and mergers & acquisitions are among the key strategies adopted by industry players to enhance their market position.
Metal Roofing Market, By Product
- Metal Tiles, Shingles, and Shakes
- Corrugated Panels
- Standing Seam Roofing
- Plain Panels
Market, By Material
Market, By Application
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Metal Sales Manufacturing Corporation
- Ideal Roofing
- Linyi Jinhu Color Coating Aluminum Industry Co., Ltd.
- Reed's Metals
- DECRA Roofing Systems, Inc.
- ATAS International, Inc.
- BlueScope Steel Limited
- Carlisle Syntec Systems
- Kingspan Group
- Tata Steel
- Drexel Metals, Inc.
- Nucor Building Systems
- OmniMax International, Inc.
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