The Latest Metal Roofing Industry Statistics Explained
The global metal roofing market was valued at $19.3 billion in 2019.
The statistic that the global metal roofing market was valued at $19.3 billion in 2019 indicates the total worth of metal roofing products sold and used worldwide during that year. This figure represents the economic significance and scale of the metal roofing industry on a global scale, reflecting the demand for these products as a roofing solution in residential, commercial, and industrial construction projects. The valuation also gives insight into the size and growth potential of the market, highlighting the importance of metal roofing as a popular and competitive option in the construction and building materials sector.
The metal roofing market is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027.
The statistic that the metal roofing market is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2020 to 2027 indicates that the market is projected to expand steadily over the seven-year period. The CAGR represents the average annual growth rate of the market over this period, taking into account the compounding effect of growth year over year. In this case, a CAGR of 4.2% suggests that the metal roofing industry is expected to increase by 4.2% annually on average. This statistic is important for stakeholders in the market, such as manufacturers, suppliers, and investors, as it provides insight into the anticipated growth trajectory and may inform strategic decisions and investment opportunities in the industry.
In terms of market share, Asia Pacific held the largest at over 40% in 2019.
This statistic indicates that within the global market, Asia Pacific held the largest share, accounting for over 40% of the market in 2019. This suggests that a significant portion of economic activity, trade, and consumption in various industries such as technology, consumer goods, and manufacturing was concentrated in the Asia Pacific region during that year. Factors contributing to this could include the region’s large population, expanding middle class, robust economic growth, and flourishing industries. Understanding market share by region is important for businesses and policymakers seeking to target specific markets, assess competition, and make strategic decisions for growth and investment.
Steel roofing is projected to exhibit a CAGR of 3.9% over the forecast period.
The statistic suggests that the steel roofing industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% over the forecast period. This means that the revenue generated from steel roofing is predicted to increase by an average of 3.9% annually over the specified timeframe. The CAGR provides a simplified representation of the growth trajectory, smoothing out fluctuations in growth rates to show a consistent annualized growth rate. This projection indicates a positive outlook for the steel roofing market, highlighting the industry’s potential for expansion and indicating favorable market conditions for steel roofing products.
Residential application segment is expected to reach more than $4 billion by 2027.
The statistic indicates that the residential application segment within a particular industry is projected to surpass a value of $4 billion by the year 2027. This forecast suggests a growing market opportunity and demand for products or services geared towards residential users within that industry. The figure serves as a quantitative estimate of the potential market size and financial value associated with activities targeting residential consumers, implying a lucrative and expanding market segment that businesses may seek to capitalize on in the coming years.
The U.S metal roofing market was estimated to be valued at over $3.3 billion in 2019.
The statistic indicates that the U.S metal roofing market was assessed to have a total worth exceeding $3.3 billion in the year 2019. This value reflects the monetary value of all metal roofing products sold in the United States during that time period. The figure suggests that metal roofing is a significant and lucrative sector within the construction industry, experiencing considerable demand and generating substantial revenue. This information can be important for stakeholders such as manufacturers, distributors, and investors in understanding the market size and potential opportunities within the metal roofing industry in the United States.
The U.S. metal roofing industry is projected to grow at a CAGR of 5.4% from 2017 to 2022.
This statistic indicates that the United States metal roofing industry is expected to achieve a compound annual growth rate (CAGR) of 5.4% from 2017 to 2022. This suggests a steady and consistent growth trend in the market over the specified period. The projection implies that the demand for metal roofing products in the U.S. is anticipated to increase at a moderate pace, driven by factors such as rising construction activities, growing preference for durable and energy-efficient roofing materials, and increasing awareness of the benefits associated with metal roofs. This growth rate provides valuable insight for industry stakeholders, helping them to anticipate market trends, plan for expansion strategies, and capitalize on potential opportunities within the metal roofing sector.
By 2022, the total U.S. metal roofing market size is expected to reach $5 billion.
The statistic states that by the year 2022, the total market size for metal roofing in the United States is projected to reach $5 billion. This figure represents the value of all metal roofing products, services, and related activities within the U.S. market for that year. The estimated market size of $5 billion signifies the significant economic value and potential growth of the metal roofing industry in the U.S. by 2022, indicating a rising demand for metal roofing materials and installations among consumers and businesses. This statistic serves as an important indicator for stakeholders in the construction and building industry, helping them understand the market trends and opportunities within the metal roofing sector.
Approximately 60% of metal roofing is used in the residential sector in the U.S.
This statistic indicates that a majority of metal roofing installations in the United States are used in the residential sector. Specifically, around 60% of all metal roofing is utilized in residential buildings such as houses, apartments, and other living spaces. This suggests that metal roofing is a popular choice among homeowners and developers for its durability, longevity, and aesthetic appeal. The remaining 40% is likely to be used in commercial and industrial buildings, reflecting a diverse range of applications for metal roofing products within the construction industry.
Peaked roofs are the most common metal roof style, at 71%, followed by flat roofs at 29%.
The statistic states that among metal roof styles, peaked roofs are the most common, accounting for 71% of the total usage, while flat roofs make up the remaining 29%. This suggests that a significant majority of metal roofs have a peaked design rather than a flat one. The data highlights a clear preference for peaked roofs in the construction or renovation of buildings using metal roofing materials. This information could be valuable for manufacturers, builders, and homeowners looking to make informed decisions about the most popular metal roof styles on the market.
14% of the market share in the U.S. is held by metal roofing.
The statistic ‘14% of the market share in the U.S. is held by metal roofing’ indicates that metal roofing products account for approximately 14% of all roofing materials used in the United States. This implies that metal roofing is a significant player in the roofing industry in the U.S., holding a substantial portion of the market share compared to other types of roofing materials. This statistic could influence decision-making for businesses operating in the roofing industry, as it highlights the popularity and demand for metal roofing among consumers in the U.S. It also provides insights into consumer preferences and trends in the construction and home improvement sectors.
North American residential metal roofing market reached $1 billion by the end of 2020.
The statistic regarding the North American residential metal roofing market reaching $1 billion by the end of 2020 indicates a significant value of sales within this specific sector of the construction industry. This figure suggests a high level of demand for metal roofing materials among homeowners in the North American region, likely driven by factors such as durability, energy efficiency, and aesthetic appeal. The $1 billion milestone signifies a thriving market for residential metal roofing products, highlighting the growing preference for these materials over traditional options like asphalt shingles. This statistic also implies potential opportunities for further market expansion and innovation in the metal roofing industry to cater to the evolving needs and preferences of consumers.
Residential metal roofing industry has been growing by nearly 4% per year over the past few years.
The statistic indicates that the residential metal roofing industry has been experiencing a consistent growth rate of approximately 4% per year over the recent years. This suggests a positive trend in the market demand for metal roofing among homeowners. Such growth may be attributed to various factors such as the increasing awareness of the benefits of metal roofing, including its durability, energy efficiency, and environmental friendliness. This growth trend implies a healthy and expanding market for residential metal roofing products and services, presenting opportunities for industry players to capitalize on the growing demand and potentially expand their market share in the industry.
Approximately 75% of all metal roofing in the U.S. is installed in the South.
The statistic indicates that out of all metal roofing installations across the United States, approximately 75% of them are conducted in the Southern region of the country. This suggests a strong preference or prevalence of metal roofing in the Southern states compared to other regions. Factors such as the climate, cost of materials, regulations, and construction practices in the South may contribute to this disproportionately high adoption of metal roofing. Understanding these regional variations in roofing material choices can inform industry professionals, policymakers, and consumers about trends and preferences in the roofing market across different regions of the U.S.
Older homeowners are 43% more likely to purchase a metal roof compared to the average homeowner.
This statistic suggests that older homeowners are significantly more inclined to purchase a metal roof compared to the average homeowner. The 43% increase in likelihood indicates a substantial difference in preferences between older homeowners and the general population. This could be attributed to factors such as durability, longevity, and lower maintenance requirements of metal roofs, which may appeal more to older individuals who seek long-term solutions for their homes. Understanding this consumer behavior can be valuable for marketers and manufacturers in targeting the older homeowner demographic with tailored marketing strategies and product offerings to capitalize on their preference for metal roofs.
The commercial end-use sector held over 67% share of the global metal roofing market in 2019.
The statistic ‘The commercial end-use sector held over 67% share of the global metal roofing market in 2019’ indicates that in 2019, more than two-thirds of the market for metal roofing was dominated by commercial properties such as offices, retail buildings, and industrial facilities. This suggests that commercial enterprises were the primary consumers of metal roofing products globally in that year, potentially due to factors such as the durability, longevity, and cost-effectiveness of metal roofs for larger structures. The significant market share held by the commercial sector highlights the importance of this segment in driving the demand for metal roofing materials and services, and indicates a strong preference for metal roofing among commercial property owners and developers.
Aluminum is expected to be the fastest growing material segment with a CAGR of 5.9% from 2020 to 2027.
This statistic indicates that aluminum is projected to experience the highest compound annual growth rate (CAGR) among all materials, at a rate of 5.9% from 2020 to 2027. This suggests that the demand for aluminum is anticipated to increase significantly over this period, likely driven by its various desirable properties and applications across industries such as automotive, aerospace, construction, and packaging. The high growth rate indicates a strong market outlook for aluminum, with opportunities for industry players to capitalize on this trend and potentially invest in expanding their aluminum-related operations to meet the growing demand.
The recycle content of metal roofs is up to 56% from production to installation to reuse, far superior to asphalt.
This statistic refers to the environmentally-friendly nature of metal roofs compared to their asphalt counterparts in terms of recycle content throughout their lifecycle. The statistic indicates that metal roofs can maintain up to 56% recycle content from the moment of production all the way through to installation and eventual reuse. This figure shows the sustainable advantage of metal roofs as they have a significantly higher recycled content compared to asphalt roofing materials. This demonstrates that metal roofs are a more eco-friendly option as they contribute to reducing waste and promoting resource efficiency in the construction industry.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.marketresearchfuture.com
2. – https://www.www.globenewswire.com
3. – https://www.www.metalroofing.com
4. – https://www.cleantechnica.com
5. – https://www.www.metalconstructionnews.com
6. – https://www.www.bccresearch.com
