The Global roofing tiles market is estimated to be valued at US$ 105 Billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2032.
Key Takeaways
Key players operating in the roofing tiles market include Boral Limited, Eagle Roofing Products, Ludowici, MCA Clay Roof Tile, Marshalls Plc, Redland Plc, Shandong Fangxing Roofing, and Wienerberger AG.
Rapid urbanization and increasing construction of residential and commercial buildings across the globe are driving the Roofing Tiles Market Demand. Furthermore, rising renovations and remodeling activities of old buildings is propelling the market growth.
Technological advancements including the development of engineered roofing tiles with enhanced durability, fire resistance, slip resistance and self-cleaning properties are expanding the application scope of roofing tiles.
Market Trends
Sustainable roofing tiles made from recycled materials such as fly ash, slag, and ceramic scraps are gaining popularity due to stringent environmental regulations. Leading players are focusing on developing eco-friendly roofing tile products with lower cradle-to-grave environmental impact.
Customization of roofing tiles with varied textures, embossing, surface finishes and colors allow homeowner to match the style of the building. 3D printing technology is enabling mass customization of roofing tiles with intricate designs at competitive prices.
Market Opportunities
Growing "repair, maintenance, and improvements" (RMI) construction activities in developed nations present significant growth opportunities. Furthermore, renovations of religious buildings, heritage sites, and monuments offer scope for specialized roofing tiles.
Substantial investments by governments across emerging nations in infrastructure development projects will augment the demand for commercial roofing tiles during the forecast period.
Impact of COVID-19 on Roofing Tiles Market Growth
The COVID-19 pandemic has significantly impacted the global roofing tiles market. During the initial lockdown phase, construction activities were halted across major countries which adversely affected the demand for roofing tiles. However, with gradual lifting of lockdowns and resumption of projects, the market has started showing signs of recovery. Some key aspects are as follows:
In the pre-COVID era, the market was growing at a steady pace riding on increasing residential and commercial construction activities worldwide. The demand was majorly driven by re-roofing and replacement activities in developed markets and new construction projects in developing nations. However, during the peak pandemic period, construction work was limited only to essential projects which led to a major declined in roofing tiles consumption. Various manufacturing units also underwent temporary shutdown during the lockdown.
Moving forward, as lockdowns ease and vaccination drives progress, the market is expected to bounce back supported by rising investment in infrastructure development programs. Governments across regions have announced stimulus packages focusing on construction and real estate sector to boost economic revival. This will augment the demand for roofing tiles from 2022 onwards. Additionally, shifting consumer preference towards energy-efficient and eco-friendly roofing solutions will further aid the market expansion. Leading manufacturers are also focusing on developing lightweight, durable and aesthetically appealing product varieties.
In terms of regional markets, Europe accounts for the largest consumption of roofing tiles globally majorly driven by countries like France, Germany and UK. The region has a well-established residential construction industry and high penetration rate of clay roof tiles. However, the COVID-19 outbreak severely impacted the regional market during the initial months.
With recovery measures now underway, the demand is estimated to get back on growth trajectory from 2022. On the other hand, Asia Pacific exhibits high-potential for roofing tiles owing to rapid urbanization and investment in infrastructure modernization projects particularly in China and India. The region has emerged as the fastest recovering and growing market post the pandemic.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
