The global roofing tiles market is thriving on the back of growing construction activities across the globe along with the rising real estate industry. Additionally, several affordable housing activities supported by the governments of various nations, 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 contributing towards the growth of the real estate industry, which is anticipated to raise the demand for roofing tiles in buildings. All of these factors together are expected to drive the growth of the global roofing tiles market.

The market is anticipated to record a CAGR of around 4.57% throughout the forecast period, i.e. 2019-2027. 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 the back of expansion of middle-class housing segment, greater application of roofing tiles for heat treatment in residential houses, as well as government’s focus on aided residential housing facilities. Additionally, increasing urbanization, on the back of gradual shift in residence of the human population from rural to urban areas across nations around the globe is also anticipated to bolster the growth of the segment in the global roofing tiles market. According to a publication of the United Nations, it is projected that by the year 2050, India will contribute to 416 million urban dwellers, whereas China is expected to contribute 255 million. CLICK TO DOWNLOAD SAMPLE REPORT

Growth Drivers

Growing Need Amongst Homeowners And Renters For Remodeling, Redesigning And Restructuring Of Their Homes

There is a rising need amongst homeowners and renters for remodeling, redesigning and restructuring of their homes on the back of growing concerns over potential health impacts of unhealthy housing. Roof replacements and repairing of roofs are the two key focus areas which is expected to foresee rapid developments. Such a factor is anticipated to drive the growth of the global roofing tiles market. According to National Association of REALTORS®, which is the largest trade association of America and involved in all aspects of the residential and commercial real estate industries, stated that Americans spend around USD 400 billion annually on remodeling their homes. Additionally, 55% of owners in suburban areas and 52% of owners in urban areas say that they would be willing to remodel their home. Moreover, the report also stated that 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.

Growing Trend For The Construction of Green Buildings

Growing environmental concerns worldwide to reduce carbon, water, energy and waste is raising the need for the practice of creating civil structures and using processes that are environmentally responsible and resource-efficient throughout a building’s life cycle. Owing to such a factor, the concept of green buildings is on a rising trend, which implies the balance between the various aspects of the built environment, consumption of resources and the environmental effects. Moreover, mandatory regulations imposed by various regulatory authorities to encourage the use of sustainable building materials, are some of the factors expected to propel the demand for global roofing tiles market.