Roofing Tiles Market Size, Share, Trends, Growth 2030
Description
According to the report published by Zion Market Research, the global Roofing Tiles Market size was valued at USD 10,456.23 Million in 2022 and is predicted to reach USD 15,319.61 Million by the end of 2030. The market is expected to grow with a CAGR of 4.890% during the forecast period.
The report analyzes the global Roofing Tiles Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Roofing Tiles Market industry.
Global Roofing Tiles Market: Overview
Roofing tiles are kind of tiles installed on the roof ofbuildings. These are manufactured from slate, concrete, clay,terracotta, and other materials. These tiles are fixed on the roofwith the help of nails hanging from the roof framework, therebyoverlapping the row below it. Roofing tiles are widely utilized inthe residential sector due to their properties and features,including durability, longevity, fire resistance, and windresistance. Roofing tile is a long-term investment.
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Global Roofing Tiles Market: Growth Factors
The growing demand forroofing tiles is particularly attributed to the significant population growth along with rapid industrialization andurbanization globally. In addition, the growing disposable incomeof the people leading to the upgradation in the lifestyle of theconsumer is further complementing the growth. Simultaneously, theincrease in income is igniting the remodeling and new constructionactivities, thereby widening the scope of market development in thenear future.
However, the ongoing technological advancements willoffer more lucrative growth opportunities in the global roofingtiles market in the forthcoming years. For instance, Tesla Inc. inOctober 2019 launched Solar Roof Tile V3. These solar roof tilesact as a substitute for conventional solar panels and do notrequire any frequent cleaning because there is no gap between thesolar roof tiles and roof thereby, no debris gets collected in thesystem. The continuous expansion of the building and constructionsector globally is further paving the way for the exponentialgrowth of the global roofing tiles market over the forecastedperiod. The Government of Canada, in June 2020, introduced a USD 30million fund program to assist homeowners to save money onrenovation and building projects.
The government of several regionsis launching more such initiatives to satisfy the demand of thegrowing population for residential spaces. Roofing tiles can lowerthe overall heat transfer into the attic space by around 70% whencompared to the asphalt shingle roof. However, roofing tiles areavailable for different purposes, including apartments,condominiums, townhomes, single-family homes, and other buildings.The global roofing tiles market is impacted by Covid-19 imposedlockdowns worldwide, but the market is reporting at a faster pacethan before with a strategic framework. Thereby a fast recovery isexpected in the market in the coming future.
Global Roofing Tiles Market: Segmentation
The global roofing tiles market can be segmented into end-user,construction type, material type, and region.
By end-user, the market can be segmented into non-residential and residential uses.
By construction type, the market can be segmented intorenovation, replacement, and new construction.
By material, the market can be segmented into concrete rooftiles, clay roof tiles, and others.
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Global Roofing Tiles Market: Regional Analysis
Asia Pacific accounts for the largest share in the globalroofing tiles market due to the increasing inclusion of highinvestment projects in commercial and residential sectors ingrowing economies like the Philippines, China, and India. In India,the construction sector is likely to reach USD 738.5 billiondollars by 2022, with a CAGR of 15. 6%. Also, China is undertakingthe development of 13 major cities in provinces like Shanghai andBeijing. In addition, the growing population demanding residentialand commercial spaces is further scaling up the growthopportunities in the region.
North America is also likely to witness significant growth inthe forthcoming news due to the growing awareness regarding theroofing tiles among the people. Also, the growing governmentsupport will further scale up the growth opportunity in theregion.
Global Roofing Tiles Market: CompetitivePlayers
Some of the significant players in the global roofing tilesmarket include:
- Terreal Malaysia Sdn bhd
- Shital Potteries
- MCA ClayRoof Tile
- Marley Ltd
- Ludowici Roof Tile
- Ecostar LLC
- EagleRoofing
- Crown Roof Tiles
- Boral Limited.
The Global Roofing Tiles Market is segmented as follows:
By End-user
- non-residential
- residential uses
By Construction type
- intorenovation
- replacement
- new construction
By Material type
- concrete rooftiles
- clay roof tiles
- and others
Global Roofing Tiles Market: Regional SegmentAnalysis
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms ofvolume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold inthe market.
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