Roofing Materials Market to Reach Valuation of USD 142.7 Billion By 2028 – Rising Consumer Interest Regarding Home Renovation Drives the Market

In terms of revenue, the Global Roofing Materials Market is expected to reach USD 142.7 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.50% from 2022 to 2028.

The market is anticipated to rise due to rising commercial and residential building renovation and redevelopment costs. As a result of the economic downturn brought on by the COVID-19 problem, which has led to poor investor confidence and a reduction in building activity, the global construction sector is only seeing regional growth. As a result, the market has also suffered a disastrous setback.

Key Highlights from Report:

• The Residential segment of the Roofing Materials Market is expected to develop during the forecast period due to factors including the growing worldwide population and consumers' preference for single-family homes. Because they are easier to install and require less upkeep than metal or concrete, Asphalt Shingles are popular among homeowners for usage in residential applications. These can give roofing structures a wood, cedar, or slate-like appearance and come in a wide range of colors and textures, improving their aesthetic value.

• The Asphalt Shingles segment is expected to register a significant share in the market during the forecast period. The market for Roofing Materials globally is dominated by North America. The usage of Roofing Materials to fend off weather conditions and maintain the area's architectural heritage is expanding. Positive reasons for the growth of the Roofing Materials Market include the high investment in housing buildings and roofing. For the American climate, Roofing Materials like Asphalt Shingles are particularly advantageous.

• North America dominates the market with the highest Compound Annual Growth Rate (CAGR) during the forecast period. This supremacy is attributed to the region's rapid, lucrative expansion. Additionally, the region's large population and several product manufacturers' existence are promoting the product's growth.

Market Dynamics:

Building roofs are covered with Roofing Materials, which are flimsy and lightweight covers used to shield them from the elements, including rain, sunlight, and other hazards. These materials are reasonably priced and have many qualities, such as waterproofing and sun protection. The significant revenue share of the market is attributable to the rise in the number of doctor's offices. Healthcare systems have undergone a digital revolution due to regulatory reforms like the ICD-10 revisions in 2015. There has been a considerable demand for healthcare IT solutions like revenue cycle management systems to boost productivity and improve service delivery. Additionally, the region's market is presented with significant growth opportunities due to the presence of famous sizable hospitals and well-established healthcare facilities, the growing desire to reduce healthcare expenses, and favorable laws.

The North American region is expected to hold a significant share in the market in 2021. This dominance results from the region's dramatic increase in the development of homes and businesses. Many economies that are growing the fastest are located in this region, causing a rise in the average person's disposable income. As a result, as the housing market has grown, so too has the demand for high-quality Roofing Materials. Even after the economic downturn brought on by the epidemic, the building industry in America largely remained robust. Uncertainty regarding Brazil's economic reforms and policy, as well as recent social turmoil in other nations.

The Global Roofing Materials Market is Segmented as follows:

• Product
  • Asphalt Shingles
  • Concrete & Clay Tile Roofs
  • Metal Roofs
  • Plastic Roofs
  • Other Products
• Application
  • Residential
  • Non-Residential
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Roofing Materials Market is:

GAF Materials Corporation, Atlas Roofing Corporation, Owens Corning, TAMKO Building Products Inc., CSR Ltd., Carlisle Companies Inc., Crown Building Products LLC, Metal Sales Manufacturing Corporation, Wienerberger AG, Etex, CertainTeed Corporation, Johns Manville, Fletcher Building Limited, Eagle Roofing Products, Boral Roofing

The Global Roofing Materials Market Scope can be Tabulated as below: