ID: MRFR/CO/7062-HCR | February 2021 | Region: Global | 110 pages
The Roofing Tiles Market size is projected to reach USD 42,655 million by 2027 and is expected to witness 6.2% CAGR during the forecast period.
The Global Roofing Tiles Market is expected to witness significant growth in the next few years due to the growing demand for clay roof tiles coupled with increasing refurbishment activities in emerging economies such as China, Japan, and South Korea. The growth in the number of housing projects will enhance the demand for roofing, across the globe. Factors such as increased expenditure on the remodeling and retrofitting of buildings globally, are expected to lead to the market growth. Due to the growing urbanization, the need for new residential construction projects is growing, which fuels the demand for residential roofing around the world, further raising the growth of roofing tiles market. Moreover, various laws and regulations have been introduced by governments in several countries for the purpose of raising their infrastructure and real-estate industries, which lead to further demand for roofing tiles in the building.
However, fluctuation prices of raw materials and expensive installations are expected to hinder the market growth. Thus, the price fluctuations can hamper various end-use industries. Therefore, the prices of raw materials may affect the production cost by ultimately affecting the growth of the roofing tiles market. Rising consumer demand for eco-friendly roofing materials such as clay, is an opportunity for the roofing tiles industry manufacturers.
Regional Analysis: Global Roofing Tiles Market
By region, the global roofing tile market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market in Asia-Pacific dominated the global market, followed by North America for roofing tiles. The market in China is projected to be the largest consumer of roofing tyles market and held the largest market share in terms of value and volume in the region. This is attributed to the growth of the building & construction industry and the improvement of the financial conditions in this region have led to the rise in the demand for roofing tiles.
Segmentation: Global Roofing Tiles Market
The Global Roofing Tiles Industry has been segmented based on type and application. On the basis of type, the global market has been classified as clay, concrete, metal, and others. The clay segment held the largest market share in the global market. Such roofing tiles are an ideal option for homeowners as these tiles are strong, attractive, eco-friendly, and energy-efficient and provide various advantages of installing a roof in any building.
By application, the global market has been segmented as residential, commercial, infrastructural, and industrial. The residential segment held the largest market share in 2018, which is expected to witness the fastest growth rate during the forecast period. The rapid growth of the real estate industry in developing economies such as India and China, have led to considerable growth in the construction of residential properties, which is further expected to add to the growth of the segment.
The Industry Participants operating in the Global Roofing Tiles Market include Tesla (US), Etex Group (Belgium), Boral Limited (Australia), Atlas Roofing Corporation (US), Brava Roof Tile (US), and Crown Roof Tiles (US). Ecostar LLC (US), Eagle Roofing (US), Red Land Tiles, and Wienerberger AG are some of the other players operating in the roofing tiles industry.
The Global Roofing Tile Market is a fragmented market with a number of small-sized and medium-sized players, across the globe. The market is dominated by a few key players. These players are adopting strategies such as product development and acquisitions to improve their position in the market. Increasing construction spending and the use of synthetic roofing products are the key factors that drive the market. Vendors compete based on the cost, quality, and reliability of products. It is vital for the players to offer cost-effective and superior technology to succeed in the competitive market environment. The growth of market vendors is dependent on market conditions, government support, and industry development. Thus, they should focus on improving their products and expanding their regional presence.
|Market Size||2027: USD 42,655 Million|
|CAGR||6.2% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Tesla (US), Etex Group (Belgium), Boral Limited (Australia), Atlas Roofing Corporation (US), Brava Roof Tile (US), and Crown Roof Tiles (US). Ecostar LLC (US), Eagle Roofing (US), Red Land Tiles, and Wienerberger AG|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global roofing tiles market is projected to grow at approximately 6.2% CAGR during the assessment period (2020-2027).
Global roofing tiles market had created a valuation of around USD 31.4 BN in 2019.
Based on type, the clay segment and based on application, the residential segment holds majority shares in the global roofing tiles market.
Asia Pacific holds the largest share in the global roofing tiles market, followed by North America and Europe, respectively.
Brava Roof Tile (US), TEX Group (Belgium), Boral Limited (Australia), Wienerberger AG (Austria), Red Land Tiles (UK), Crown Roof Tiles (US), Ecostar LLC (US), Tesla (US), Eagle Roofing (US), and Atlas Roofing Corporation (US), are some of the top players operating in the global roofing tiles market.