Research Nester has released a report titled “Roofing Tiles Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the roofing tiles market in terms of market segmentation by type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global roofing tiles market is segmented by end user into residential and non-residential, out of which, residential segment is anticipated to hold the largest market share on account of government’s focus on aided residential housing facilities, greater need for roof heat treatment solutions, middle-class housing segment expansion, and increasing urbanization among others. In a publication of the United Nations, contribution to urban dwellers by India was projected to 416 million and 255 million by China by the year 2050.
The global roofing tiles market is anticipated to record a CAGR of around 4.57% during the forecast period, i.e. 2019-2027. Several construction activities happening around the globe coupled with the rising real estate industry, and the provision of affordable housing activities carried out by governments of nations worldwide, for instance, Pradhan Mantri Awas Yojana (PMAY) in India, National Housing and Homelessness Agreement (NHHA) in Australia, Social Housing Services Corporation (SHSC) in Ontorio, Canada, and others, are some of the factors anticipated to contribute significantly towards the growth of the global roofing tiles market.
Regionally, the global roofing tiles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is expected to hold the largest market share on account of growing investments by nations such as China, India, Philippines, Vietnam and others in the residential and commercial construction, as well as the favorable policies supporting affordable housing in the region. In the statistics by India Brand Equity Foundation (IBEF), an approval for the Real Estate Investment Trust (REIT) platform by Securities and Exchange Board of India (SEBI) is anticipated to create an opportunity worth USD 19.65 billion in the Indian market over the years.
Growing Need Amongst Homeowners And Renters For Remodeling, Redesigning And Restructuring Of Their Homes
Growing concerns over potential health impacts of unhealthy housing amongst homeowners and renters is raising the need for remodeling, redesigning and restructuring of their homes along with preferences for roof replacements and repairing of roofs, which is anticipated to drive the growth of the global roofing tiles market. In the statistics by National Association of REALTORS®, around USD 400 billion is spent annually by Americans on remodeling their homes. Moreover, 55% of owners in suburban areas and 52% of owners in urban areas have the preferences to remodel their home. Furthermore, the two major reasons for doing a new roofing project was for the upgradation of worn-out surfaces, finishes and materials, and for the reason that the owners felt it was time for a change.
However, concerns regarding high cost of raw materials which affects the end price of the product along with the presence of an unorganized sector, all of these factors are considered to operate as key restraints to the growth of the global roofing tiles market.
This report also provides the existing competitive scenario of some of the key players of the global roofing tiles market, which includes company profiling of Etex, Wienerberger AG (VIE: WIE), BMI Group, IKO Industries Ltd., Crown Building Products, LLC, Atlas Roofing Corporation, Boral Limited (ASX: BLD), EcoStar, LLC, Brava Roof Tile, and Eagle Roofing. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global roofing tiles market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.