The Latest Roofing Materials Industry Statistics Explained
Global roofing market size was valued at $92.9 billion in 2019.
The statistic that the global roofing market size was valued at $92.9 billion in 2019 represents the total estimated value of roofing products and services generated worldwide during that year. This figure encompasses the revenue generated by various types of roofing materials, installation services, maintenance, repairs, and related activities within the roofing industry. The market size provides valuable insights into the scale and economic significance of the roofing sector globally, serving as a key indicator of the overall demand for roofing products and services across different geographical regions. Analyzing this statistic can help industry stakeholders, policymakers, and investors understand the market dynamics, trends, and potential growth opportunities within the roofing industry.
The market is expected to reach approximately $132.2 billion by 2027.
The statistic “The market is expected to reach approximately $132.2 billion by 2027” refers to a projected total market value in terms of monetary units by the year 2027. This figure indicates the anticipated growth and expansion of the market, suggesting that business revenues, consumer spending, or overall market value are forecasted to increase significantly over the specified time period. Such projections are often based on various factors including historical trends, market analysis, economic forecasts, and industry insights, and can serve as a valuable indicator for businesses, investors, and policymakers in understanding the potential future performance and opportunities within the market.
Asia-Pacific dominates the roofing materials market currently and is expected to continue its dominance through 2027.
The statistic indicates that the Asia-Pacific region is the leading market for roofing materials at present, with a strong position expected to be maintained through the year 2027. This dominance may be attributed to various factors such as rapid urbanization, increasing infrastructure development, and growing construction activities in the region. The robust growth in the Asia-Pacific roofing materials market suggests a favorable business environment, potentially driven by factors like economic growth, population expansion, and rising disposable incomes. As a result, businesses in the roofing materials industry may find significant opportunities for growth and expansion by focusing on the Asia-Pacific market in the coming years.
The metal segment accounted for more than one-fifth of the total roofing materials market share in 2019.
The statistic indicates that the metal segment within the roofing materials market held a significant market share in 2019, specifically surpassing one-fifth of the total market share. This suggests that metal roofing materials were a popular choice among consumers and industry professionals during that year, likely due to factors such as durability, energy efficiency, and aesthetic appeal. The high market share captured by the metal segment implies that it was a key player in shaping the overall dynamics of the roofing materials industry in 2019, potentially influencing pricing, competition, and innovation within the market.
Residential sector is expected to grow at a CAGR of 3.0% from 2020 to 2027.
The statistic stating that the residential sector is expected to grow at a compound annual growth rate (CAGR) of 3.0% from 2020 to 2027 indicates the projected average annual rate at which the sector is anticipated to increase over the specified time period. This means that, on average, the residential sector’s value or performance is expected to expand by 3.0% each year from 2020 to 2027. The CAGR provides a smoother representation of growth compared to simple annual growth rates, as it factors in the compounding effect on the initial value. In this context, the forecast suggests a gradual yet consistent expansion in the residential sector over the next seven years.
Shingle roofing controls approximately 70% of the residential roofing market.
The statistic “Shingle roofing controls approximately 70% of the residential roofing market” indicates that among all the different types of roofing materials available for residential buildings, shingle roofing is the most popular choice, accounting for approximately 70% of all residential roofing installations. This statistic suggests that shingle roofing is the preferred option for the majority of homeowners when it comes to selecting roofing materials for their homes. Factors such as cost-effectiveness, durability, ease of installation, and aesthetic appeal likely contribute to shingle roofing’s dominance in the residential market.
The elastomeric roofing segment has about 30% of the commercial roofing market.
The statistic indicates that the elastomeric roofing segment commands a significant portion of the commercial roofing market, accounting for approximately 30% of market share. This suggests that elastomeric roofing materials and solutions are popular choices among commercial property owners and builders when it comes to roofing installations. The high percentage implies that there is a strong demand for elastomeric roofing products due to factors such as durability, energy efficiency, and cost-effectiveness. This data is valuable for industry stakeholders, such as manufacturers, suppliers, and contractors, as it highlights the competitiveness and market potential of elastomeric roofing in the commercial sector.
The increasing cost of raw materials may restrain the roofing materials market, expected to be a potential threat to the overall growth of the market through 2021-2025.
This statistic suggests that the roofing materials market is facing a potential threat to its growth in the coming years due to the rising cost of raw materials. The increasing cost of raw materials is anticipated to constrain the market’s expansion between 2021 and 2025. This constraint implies that the roofing materials industry may encounter challenges such as higher production costs, reduced profit margins, and potentially higher prices for consumers. As a result, this trend poses a significant risk to the overall growth trajectory of the roofing materials market over the specified period. Implementing strategies to address or mitigate the impact of rising raw material costs will be critical for industry players to navigate this potential threat and sustain growth in the market.
Green roofs are expected to witness a CAGR of over 11% between 2020 and 2025.
This statistic indicates that the green roof industry is projected to experience significant growth over the next five years, with a Compound Annual Growth Rate (CAGR) of over 11% between 2020 and 2025. This suggests that the adoption and installation of green roofs are expected to accelerate at a steady pace, driven by factors such as increasing awareness of environmental sustainability, government incentives, and technological advancements in green roof technologies. The double-digit CAGR signifies a robust growth trend in the industry, which is likely to lead to a larger market share for green roofs and a greater overall impact on sustainability efforts in urban environments.
More than 80% of flat roofs use Ethylene Propylene Diene Monomer (EPDM).
The statistic “More than 80% of flat roofs use Ethylene Propylene Diene Monomer (EPDM)” suggests that EPDM is a highly popular choice for covering flat roofs, with a prevalence exceeding 80%. This indicates a strong preference for EPDM material among builders, contractors, and property owners when it comes to addressing waterproofing and other flat roof needs. The high usage rate of EPDM may be attributed to its known durability, flexibility, and resistance to extreme weather conditions, making it a trusted option for ensuring the longevity and reliability of flat roof structures.
TPO and PVC continue to be the fastest growing roof membrane products in the market today.
The statistic indicates that Thermoplastic Olefin (TPO) and Polyvinyl Chloride (PVC) are experiencing the highest rate of growth among various roof membrane products currently available in the market. This suggests that these two types of membranes are increasingly gaining popularity and market share due to their perceived qualities and benefits compared to other materials. The growth in TPO and PVC membranes may be attributed to factors such as their durability, energy efficiency, cost-effectiveness, and ease of installation, making them attractive choices for customers in need of roofing solutions. This data highlights a trend in the roofing industry where TPO and PVC membranes are becoming the preferred options for customers seeking reliable and high-performing roof covering materials.
Bituminous roofing accounted for 46% of market share in 2019.
The statistic “Bituminous roofing accounted for 46% of market share in 2019” indicates that out of all the different types of roofing materials available in the market in 2019, bituminous roofing, which is a type of roofing material made from asphalt or coal tar, held a significant portion of the market, specifically 46%. This statistic suggests that bituminous roofing products were popular and widely used by consumers and/or contractors within the roofing industry during that year. It highlights the competitiveness and market dominance of bituminous roofing in the construction and roofing sector.
The average lifespan of an asphalt shingle roof is about 20 years.
The statistic ‘The average lifespan of an asphalt shingle roof is about 20 years’ indicates that, on average, asphalt shingle roofs tend to last around two decades before needing to be replaced. This average lifespan serves as a general guideline for homeowners and roofers in estimating how long they can expect an asphalt shingle roof to remain functional and in good condition. Factors such as proper installation, maintenance, climate conditions, and the quality of the shingles themselves can all influence the actual lifespan of a specific roof. It is important for homeowners to monitor the condition of their roof regularly and address any issues promptly to maximize its longevity.
Ceramic roofing market is expected to increase 4.8% in 2021.
The statistic that the ceramic roofing market is anticipated to grow by 4.8% in 2021 suggests a positive trend in the demand for ceramic roofing materials within the construction industry. This increase indicates that more consumers and businesses are likely opting for ceramic roofing solutions, possibly due to their durability, aesthetic appeal, and eco-friendly nature. The growth rate of 4.8% implies a steady and moderate expansion in the market, which could be attributed to factors such as a rise in construction activity, renovation projects, and an increased focus on sustainable building practices. Overall, this statistic serves as an optimistic indicator for the ceramic roofing industry’s performance and potential opportunities for growth in the upcoming year.
The global market for green roofing materials is expected to reach $41.7 billion by 2025.
This statistic represents a projected growth in the global market for green roofing materials, with an estimated value of $41.7 billion by the year 2025. This forecast indicates a significant upward trend in the demand for environmentally friendly roofing solutions, such as vegetation and sustainable building materials. The increasing awareness of climate change, coupled with the emphasis on energy efficiency and sustainable practices in construction, has been driving the popularity of green roofs worldwide. The projected market value suggests a growing interest in eco-friendly building practices and a shift towards more sustainable and energy-efficient roofing options in the coming years.
The commercial sector accounted for 60.4% share of the global roofing materials market revenue in 2019.
The statistic indicates that in 2019, the commercial sector accounted for 60.4% of the total revenue generated in the global roofing materials market. This suggests that a significant majority of the market’s revenue came from roofing materials used in commercial buildings such as offices, retail stores, and industrial facilities. This information highlights the strong presence and demand for roofing materials within the commercial sector compared to other sectors such as residential or industrial. It could also imply that commercial construction projects played a substantial role in driving the overall growth and performance of the global roofing materials market in 2019.
Conclusion
This blog post has highlighted the key statistics and trends within the roofing materials industry. By examining data on market size, growth rates, and regional demand, it is clear that the industry is poised for significant opportunities in the coming years. Understanding these statistics can help businesses make informed decisions and stay competitive in this evolving market landscape.
References
0. – https://www.www.globenewswire.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.alliedmarketresearch.com
3. – https://www.blog.infraspeak.com
4. – https://www.www.reportsanddata.com
5. – https://www.www.icc.edu
6. – https://www.www.statista.com
7. – https://www.www.jm.com
8. – https://www.roofinginsights.com
9. – https://www.www.mordorintelligence.com
