Metal roofing provides protection from extreme weather conditions and adds aesthetic appeal to property. Made from galvanized steel or pre-painted steel, metal roof offers rust and corrosion resistance which makes it highly durable with life expectancy of around 50 years. It requires very less maintenance and repair as compared to other roofing materials like asphalt or clay tiles. Metal roofing can withstand high winds, hailstorms and heavy snow loads better. They are fire resistant and provide energy-efficiency by adding insulation value to the building which helps reduce cooling and heating costs. The popularity of metal roof is increasing in rural areas where extreme weather conditions can damage regular roofing materials easily.
The global Metal Roofing Market is estimated to be valued at US$ 10.95 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased adoption in residential sector: Growing construction of new residential homes and replacement of aging roofing materials with metal roof has propelled the metal roofing market growth. The demand is higher in regions prone to natural calamities.
Launch of Eco-friendly metal roofing: Major players are investing in R&D to develop sustainable metal roofing products made from recycled steel which produces less CO2 emissions. For example, Tata BlueScope Steel launchedEverlast Roofing which is 100% recyclable.
Availability of customized design and colors: Manufacturers offer variety of profile styles, gauges and coatings and pre-painted metal roofing sheets in multiple colors and shades allowing customers to choose as per their design aesthetics. This has increased adoption in both residential and non-residential sectors.
Porter’s Analysis
Threat of new entrants: High capital requirements and established brands create barriers for new companies in the metal roofing market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like asphalt and wood roofing.
Bargaining power of suppliers: Large suppliers have significant influence on prices due to global supply chains and supplier concentration.
Threat of new substitutes: Substitutes like asphalt, wood, and solar roofing provide competition but lack durability of metal roofing.
Competitive rivalry: The market is consolidated with top players competing on quality, warranties, and installation services.
Key Takeaways
The Global Metal Roofing Market Demand is expected to witness high growth. The global Metal Roofing Market is estimated to be valued at US$ 10.95 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
North America dominates the market owing to growing construction industry and rising demand for premium roofing materials in residential sector. Asia Pacific is the fastest growing market for metal roofing attributed to increasing construction activities and growing consumption in China, India. China represents largest production base for steel and aluminum which are key materials for metal roofing sheets.
Key players: Key players operating in the metal roofing market are Tata Steel, BlueScope Steel Limited, Carlisle Syntec Systems, Ideal Roofing, ATAS International, Kingspan Group, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co. Ltd., Drexel Metals Inc. (Carlisle SynTec Inc), and Reed’s Metals. Major players are focusing on new product launches, mergers, and acquisitions to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it