ID: MRFR/CnM/5092-HCR | October 2018 | Region: Global | 100 pages
Metal Roofing is a system that is made from pieces of metal or tiles, and it is used to last for longer in comparison to other roofing materials. Many consumers use metal roofing just because it is durable and it will last for long in the buildings or home. There are many types of metals used in metal roofing, and depending upon the type of metal, the durability of Metal Roofing is decided. There are other materials such as wood, plastic, or glass, but metal gives numerous advantages compared to them. Metal is the strongest of all other materials, and it is strong enough to tackle any problems. Metal Roofing is designed in such a way that it can face strong winds, snow, rain, and other problems easily. If metal roofing is installed in the home or building properly, then it will need a minimal amount of maintenance.
Most of the metal can be recycled easily and then can be used in future products. Metal Roofing elements such as metal sheets, metal coils, metal panels, and others. Rise of fully recycled material in construction sector boosting the Metal Roofing Market. The advantages of metal roofing are shifting the utilization of more metal over traditional wood or other materials. Increasing adoption of metal roofing offers better results, and it is fueling the Metal Roofing Market at a good rate. The lifespan of metal is one hundred years, and most of the manufacturers provide 50 years of warranty that will increase the sale of the Metal Roofing Market in the forecast period. Energy-efficient, fire safety, beauty, elimination of leaks, fungus growth resistance, and wind resistance are some of the best advantages of metal roofing, and it is causing the market to grow at a rapid rate. Metal roofing can reflect the heat and sunlight and reduce energy loss and cost of energy that makes it suitable for buildings and provide integrity and structure.
This Metal Roofing Market Overview shows the global market size was valued at $ 7,721.67 million in 2020, and it is expected to reach $8.585.97 million in 2021, at a CAGR rate of 11.53%, and it will reach 14,862.78 million in the Metal Roofing Market Forecast period. Rapidly growing construction work in the world will boost the market in the Metal Roofing Market Forecast period. The adoption of metal roofing over the traditional methods is a big factor in the Metal Roofing Market Growth. Metal Roofing Market Demand is all set to rise due to changing financial condition of the people, and high income led to better infrastructure. That will boost the Metal Roofing Market Demand. Rapid urbanization and the rising need for construction sectors, and the development of new commercial projects are all set to increase the Metal Roofing Market Size. The rising number of hospitals, schools, hotels is fueling the Metal Roofing Market Revenue.
Due to the covid-19 pandemic, one of the most affected sectors was the construction sector. Increasing covid-19 cases caused the imposition of lockdown in almost all countries around the globe. And due to that, the construction workers were at a halt. The shortage of laborers was another reason behind the suffering of the construction sector. Without laborers, construction work is not possible, and due to this, the Metal Roofing Market Demand decreased. The Metal Roofing Market Revenue decreased in this period. The financial crisis of businesses and individuals caused a lack of demand in the Metal Roofing Market. But in this situation, the global roofing market key players played a huge role in keeping the demand of the market high.
One of the major drivers in the Metal Roofing Market Revenue is the rapid urbanization in the world. As a result, the construction industry is growing rapidly, and the development of new technology will drive the demand of the market in the Metal Roofing Market Forecast period. Another driver in the Metal Roofing Market Size is the advantages of Metal Roofing, such as long lifespan, high durability, and easy installation, and it will boost the market more in coming years. The rise in the number of commercial products like hotels, schools, hospitals expected to drive the market. With time the lifestyle of people is changing, and with it, their per capita income is rising. As a result, it had led to the renovation of buildings, and that will boost the Global Metal Roofing Market.
Growing demand for green construction materials will bring many opportunities for the Metal Roofing Industry. The adoption of solar panels in big and small sectors as well in the home will have a big impact on the Metal Roofing Industry. Metal roofing offers high power saving; that is why the adoption of metal roofing in Residential places will drive opportunities for the market. Furthermore, the increasing demand for metal roofing over traditional methods will be a big opportunity for the market in the forecast period. The eco-friendly and high energy efficiency of metal roofing is expected to generate opportunities for the market.
According to the Metal Roofing Market Analysis, there are some factors that are majorly affecting the growth of the Global Metal Roofing Market, and they are called market restraints. One of the major restraints in the Metal Roofing Market Growth is the price involved. Metal roofs are more costly than other materials, and they can be a restraint in the Metal Roofing Market. In underdeveloped regions, people can’t afford high installation and high investment costs. As a result, it has become a major restraint for the market. In snowy areas, metal roofing is not preferred that can be a restraint in the growth of the Metal Roofing Market.
One of the biggest challenges in the market is the adoption of traditional methods instead of modern technology. In some underdeveloped areas, people are still adopting traditional roofing such as wood and plastic, and it has become a challenge for the market. The market is expected to see rapid growth in metal roofing revenue.
Cumulative Growth Analysis:
The market will see huge growth in demand due to the adoption of metal roofing in the construction sector. As a result, it will drive the demand of the Metal Roofing Market in the forecast period. According to Metal Roofing Market Analysis, the market the global market size was valued at $ 7,721.67 million in 2020, and it is expected to reach $8.585.97 million in 2921, at a CAGR rate of 11.53%, and it will reach 14,862.78 million in the Metal Roofing Market Forecast period.
The Metal Roofing Market is divided on the basis of Product Type, Metal Type, and Application.
The major regions in the Metal Roofing Market are North America, Europe, Asia Pacific, and other regions in the world. The Asia Pacific holds the highest share in the Metal Roofing Market due to rising Infrastructural development in the commercial and industrial sectors. Emerging economy, changing lifestyle if the people such as India and China, this region will show rapid growth in the forecast period. The rising population and that the need for residential places is leading to the growth of the Metal Roofing Market in the forecast period. North America holds the second-highest Metal Roofing Market Share due to the growing renovation in residential and commercial projects. A strong economy and high standard of living will boost the Metal Roofing Market in the forecast period.
The Major Key Players in the market are
Among them, OmniMax International, Inc is one of the major players in the market.
|Market Size||2030: USD 14,862.78 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Metal Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABC Supply Co. Inc.,Firestone Building Products Company,DECRA Roofing Systems, Inc.,Metal Sales Manufacturing Corporation, Jinhu Color Aluminum Group,Ideal Roofing Co. Ltd, Reed’s Metals, Inc.,BlueScope Steel Limited,Carlisle SynTec Systems, The OmniMax International, Inc,ATAS International, Inc.,|
|Key Market Opportunities||Growing demand for green construction materials will bring many opportunities for the Metal Roofing Industry.|
|Key Market Drivers||The rapid urbanization in the world. As a result, the construction industry is growing rapidly|
Frequently Asked Questions (FAQ) :
The Asia Pacific holds the highest share in the market, whereas North America holds the second highest share.
The Metal Roofing Market CAGR rate is 11.53% in the forecast period.
The Major Regions in the market are North America, Europe, Asia Pacific.
Firestone Building Products Company, Metal Sales Manufacturing Corporation, Jinhu Color Aluminum Group, Ideal Roofing Co. Ltd, Reed’s Metals, Inc., DECRA Roofing Systems, Inc., BlueScope Steel Limited, Carlisle SynTec Systems, The OmniMax International, Inc, ABC Supply Co. Inc. ATAS International, Inc. are the major key players in the Metal Roofing Market.