The Latest Steel Roofing Industry Statistics Explained
The global roofing materials market size was estimated at USD 119.7 billion in 2019 and is expected to register a CAGR (Compound Annual Growth Rate) of 3.0% from 2020 to 2027.
The statistic indicates that the global roofing materials market was valued at USD 119.7 billion in 2019 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 3.0% from 2020 to 2027. This suggests that the market is expected to increase steadily over the forecast period, driven by factors such as increasing construction activities, rising urbanization, and growing demand for sustainable and energy-efficient roofing solutions. The CAGR of 3.0% reflects the annual growth rate at which the market is anticipated to expand, highlighting potential opportunities for businesses operating in the roofing materials industry to capitalize on the growth prospects in the coming years.
In 2018, metal roofing accounted for 13% of the roofing market for new home construction.
The statistic indicates that in the year 2018, metal roofing made up 13% of the total roofing market specifically for new home construction. This suggests that metal roofing was chosen as the roofing material for 13% of newly constructed homes, while other types of roofing materials accounted for the remaining 87%. This information can be valuable for stakeholders in the construction and roofing industries, as it highlights the popularity and market share of metal roofing in that particular year. Understanding these market trends can be important for companies involved in the production, distribution, and installation of roofing materials, allowing them to make informed decisions and adjust their strategies accordingly.
The metal roofing industry had a 539% increase in market share from 1998 (3%) to 2016 (16%).
The statistic indicates that the metal roofing industry experienced a substantial increase in market share over the period from 1998 to 2016. Specifically, the market share of metal roofing in 1998 was at 3%, but by 2016, it had increased by 539% to reach 16%. This significant growth suggests that the metal roofing industry has been gaining popularity and acceptance among consumers and builders over the years. The increase in market share could be attributed to factors such as improved product quality, increased awareness of the benefits of metal roofing, changing consumer preferences towards more durable and energy-efficient materials, as well as advancements in marketing and distribution strategies within the industry.
The Steel Roofing Sheet Market is expected to grow at a CAGR of 5% during the forecast period 2020-2025.
This statistic indicates that the steel roofing sheet market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5% over the forecast period from 2020 to 2025. This suggests that the demand and market size for steel roofing sheets are projected to increase steadily at a rate of 5% per year on average. This growth rate serves as a valuable indicator for market analysts, businesses, and investors to understand the potential expansion and opportunities within the steel roofing sheet industry over the specified period.
Among metal roofing materials, steel is most frequently used due to its significant strength and affordability.
The statistic suggests that steel is a popular choice among metal roofing materials, primarily because of its notable strength and cost-effectiveness compared to other options. This indicates that consumers and roofing professionals recognize the durability and robustness of steel, making it a preferred material when constructing or renovating roofs. By being both strong and affordable, steel offers a compelling combination of reliability and economic feasibility, appealing to a wide range of customers seeking a long-lasting and cost-efficient roofing solution.
Steel roofing provides energy savings of up to 40% during summer months.
The statistic that steel roofing provides energy savings of up to 40% during summer months indicates that having a steel roof on a building can significantly reduce the energy consumption needed for cooling in hot weather. This reduction in energy usage is attributed to the reflective properties of steel roofing, which helps to minimize the amount of heat absorbed by the building and therefore reduces the need for air conditioning. By reflecting a greater percentage of sunlight and heat away from the building, steel roofing can help maintain a cooler indoor temperature, leading to lower energy costs and potential environmental benefits through reduced carbon emissions associated with electricity use for cooling. This statistic highlights the potential impact of building material choices on energy efficiency and cost savings in warmer climates.
The compound annual growth rate of steel roofing is predicted to be nearly 5% between 2020 and 2024.
The statistic that the compound annual growth rate (CAGR) of steel roofing is forecasted to be close to 5% between 2020 and 2024 indicates the projected average annual rate at which the steel roofing industry is expected to grow over this four-year period. This growth rate serves as a measure of the industry’s expansion and can be used to assess the potential trend in demand for steel roofing products. A CAGR of nearly 5% suggests a moderate to healthy growth trajectory for the steel roofing sector during the specified timeframe, which could be influenced by factors such as market demand, economic conditions, technological advances, and environmental regulations. This statistic provides valuable insight for stakeholders in the steel roofing industry, enabling them to make informed decisions regarding investments, production planning, and market strategies.
Steel roofing can withstand harsh weather conditions better than other roofing materials, and can last over 50 years.
The statistic states that steel roofing has superior durability compared to other roofing materials and is capable of withstanding harsh weather conditions effectively. This implies that steel roofs are highly resistant to elements such as heavy rain, snow, wind, and extreme temperatures, making them a reliable choice for long-term protection. Additionally, the statistic suggests that steel roofing can have a lifespan of over 50 years, highlighting its longevity and cost-effectiveness over time. Overall, these characteristics position steel roofing as a preferred option for those seeking a durable and resilient roofing solution.
Global Roofing Market sizewas valued at over USD 92,430.51 million in 2019.
The statistic “Global Roofing Market size was valued at over USD 92,430.51 million in 2019” indicates the total market value of the roofing industry worldwide in the specified year, which was approximately $92.43 billion. This figure represents the combined revenue generated from the sale of various roofing materials, products, and services across different regions globally. The value provides insights into the scale and economic significance of the roofing market, highlighting the demand for roofing solutions in the construction and infrastructure sectors. This statistic can serve as a key indicator for understanding market trends, growth opportunities, and investments within the roofing industry on a global scale.
The Urban population is anticipated to account for 68% of the world’s population by 2050, fueling demand for the construction sector and directly influencing the steel roofing market.
The statistic indicates that the urban population is projected to make up 68% of the global population by 2050. This trend is expected to drive demand in the construction sector, particularly impacting the steel roofing market. As more people move into urban areas, there will be a greater need for residential, commercial, and industrial buildings, leading to an increased requirement for durable and sustainable roofing materials such as steel. The growth of the urban population is likely to create opportunities for the steel roofing market to expand as cities continue to develop and modernize their infrastructure to accommodate the growing urban population.
The top countries/regions that are major consumers of steel roofing are the US, Europe, and China.
The statistic mentioned highlights the top countries and regions where steel roofing is widely consumed, with a focus on the US, Europe, and China. This information suggests that these specific regions have the highest demand and usage of steel roofing materials compared to other countries worldwide. By identifying these key markets as major consumers of steel roofing, it provides valuable insights for steel roofing manufacturers and suppliers to target their marketing efforts and production resources towards these regions in order to capitalize on the demand and potentially expand their market presence in the industry.
The export value of steel roofing from the US stood at $2.64 billion in 2019.
The statistic “The export value of steel roofing from the US stood at $2.64 billion in 2019” indicates the total monetary worth of steel roofing products that were sent from the United States to other countries in the year 2019. This figure reflects the value of steel roofing items exported by US manufacturers and businesses and serves as a measure of the economic activity and competitiveness of the US steel roofing industry in the global market. The export value of steel roofing products can be influenced by various factors such as demand from other countries, trade policies, pricing strategies, and technological advancements in the steel roofing sector, making it a key indicator for understanding the international trade dynamics of the US steel roofing market.
Almost 75% of original energy costs for manufacturing steel roofing can be saved by using recycled materials.
The statistic states that utilizing recycled materials when manufacturing steel roofing can lead to savings of nearly 75% on the original energy costs involved in the production process. This suggests a significant environmental and economic benefit in choosing to incorporate recycled materials into the manufacturing of steel roofing. By reducing the need for new raw materials and the associated energy consumption, companies can not only save costs but also contribute to sustainability efforts by promoting the reuse of materials and reducing waste generation. This statistic underscores the potential efficiency gains and environmental impact of adopting sustainable practices in the manufacturing industry.
Over 80% of residential homes in Australia and New Zealand have steel roofing.
The statistic that over 80% of residential homes in Australia and New Zealand have steel roofing indicates a high prevalence of this particular roofing material in the housing markets of both countries. This statistic suggests that steel roofing is a popular and commonly chosen option among homeowners in the region. The high adoption rate of steel roofing may be attributed to its durability, longevity, and ability to withstand harsh weather conditions, making it a practical choice for homeowners looking for a reliable and low-maintenance roofing solution. Additionally, the widespread use of steel roofing in residential construction in Australia and New Zealand speaks to the perceived benefits and advantages that homeowners associate with this type of roofing material.
The steel roofing market in the Asia-Pacific region is projected to portray the highest CAGR of 6.5% from 2021 to 2027.
This statistic indicates that the steel roofing market in the Asia-Pacific region is expected to experience significant growth with a compound annual growth rate (CAGR) of 6.5% between 2021 and 2027. The high CAGR suggests a positive outlook for the market, signaling robust demand for steel roofing products in the region over the forecast period. Factors such as rapid urbanization, infrastructure development, and increasing construction activities are likely to drive this growth trend. Stakeholders in the steel roofing industry can anticipate opportunities for expansion and investment in the Asia-Pacific region based on this projection.
The market for roofing steel is dominated by companies such as Tata Steel (India), NCI Building Systems (US), CertainTeed Corporation (US), and Ideal Roofing.
The statistic indicates that the roofing steel market is primarily controlled by a few key players, including Tata Steel from India, NCI Building Systems and CertainTeed Corporation from the US, and Ideal Roofing. These companies likely have significant market share, influence, and competitive advantages in the roofing steel industry. With such dominance, they are likely to shape market trends, pricing strategies, and product innovation within the industry. As leaders in the market, these companies are key players for stakeholders to monitor and engage with when analyzing the roofing steel sector.
The residential sector dominates the steel roofing market with a share of around 60% in 2020.
This statistic indicates that the residential sector accounted for approximately 60% of the total market share for steel roofing in the year 2020. This suggests that a significant majority of steel roofing installations were in residential buildings compared to other sectors such as commercial or industrial. The dominance of the residential sector in the steel roofing market may be influenced by factors such as increasing demand for durable, long-lasting roofing materials in residential construction, as well as homeowner preferences for steel roofing due to its durability, energy efficiency, and aesthetic appeal. This statistic highlights the importance of the residential sector in driving the steel roofing market and underscores the relevance of targeting residential customers for companies operating in this industry.
The global steel roofing market could reach $128.6 billion by 2027.
The statistic indicates that the global steel roofing market is projected to grow significantly and potentially reach a value of $128.6 billion by the year 2027. This forecast suggests a promising future for the steel roofing industry, with an expected increase in demand and market size over the next few years. Factors driving this growth could include a rise in construction activities, urbanization trends, and the benefits of steel roofing such as durability, energy efficiency, and sustainability. The projected market size serves as an important indicator for stakeholders in the steel roofing sector, providing insights into potential opportunities and market dynamics for strategic planning and decision-making.
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