Roofing Tiles Market size is poised to reach USD 46 Million by the end of 2036, growing at a CAGR of 5.6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the roofing tiles was USD 24 Million. The market growth is due to the growing population in the urban cities. According to a report by the United Nations (UN), about 50% of the global population resides in urban cities, and this percentage is expected to increase to 60% by the end of this forecasted period.
Furthermore, the need for thermal insulation, along with the energy efficiency, and the protective properties for the roofing tiles against cold, fire, wind, rain, hail, noise, and snow is increasing. According to the Economist Intelligence Unit, there has been an increase of about 71% in the online search of sustainable goods, globally.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~ 5.6% |
|
Base Year Market Size (2023) |
~ USD 24 Million |
|
Forecast Year Market Size (2036) |
~ USD 46 Million |
|
Regional Scope |
|
Product Type (Clay, Concrete, Ceramic, Ceramic coated granules, Sand, Fiberglass, Polycarbonate)
Clay type segment in the roofing tiles market is estimated to gain a robust revenue share of 42% in the coming years owing to growing health and environmental concerns. Green buildings are environmentally-friendly buildings with various eco-friendly features and initiatives, including energy efficiency and recycling. The green and sustainable buildings are estimated to be about 10% more than the conventional buildings, according to a recently published study. The growing demand for green buildings is driving the demand for clay tiles and roofing tiles.
Application (Residential, Non-Residential, Industrial)
The Residential segment in roofing tiles market is set to garner a notable share shortly and is likely to remain the second largest segment in the application of the market owing to the surge in environmental and sustainable trends. An increased concern for the environment and the growing focus on sustainable living has increased the demand for roofing systems industries that provide energy efficiency, along with reduced environmental impact, and maintain a lower carbon footprint. This has driven the demand for roofing tiles that are designed and produced with green and environmentally friendly practices in the residential housing segment, further driving its growth.
End-users (Residential, Non-residential)
The residential segment in roofing tiles market is estimated to hold a noteworthy share due to the rising per-capita income along with the growing wealth of the nation, and this has led to an increased spending power for the residential end-users. Such increased spending power has allowed residential end-users to invest more in upgrading their homes, including providing better roofing and siding options. The growth of consumer spending power has driven a growth in the residential end-user segment of the roofing tiles market.
Our in-depth analysis of the global market includes the following segments:
|
Product Type |
|
|
Application |
|
|
End-users |
|
APAC Market Forecast
The roofing tiles market in Asia Pacific is estimated to have the largest share of about 43% in 2023, driven by the higher number of manufacturing and construction bases that are present in the region. Emerging economies of several countries such as China, India, Philippines, Indonesia, and Vietnam have the highest level of expansion, with an emphasis on energy-efficient buildings. According to a survey, the average percentage of manufacturing enterprises in Asia was roughly 15% across 29 countries, with China accounting for the biggest share at 27.7%.
North American Market Statistics
The North American roofing tiles market is expected to be the second largest during the forecast period, driven by a surge in demand for re-roofing of residential and industrial buildings. This is predicted to have a favorable impact on the construction workers' sector in the region in terms of upgrading a large number of older buildings that have already outlived their intended lifespan.
Author Credits: Mohd Shadab, Yashika Karodiwal
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?