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New York, May 16, 2023 (GLOBE NEWSWIRE) — The Roofing Materials market size is projected to surpass around USD 177.6 Billion by 2032, and it is poised to reach a registered CAGR of 4.3% from 2023 to 2032. The global roofing materials market size was USD 117.8 Billion in 2022.
The roofing materials provide various options for residential, commercial, and industrial constructions. Roofing materials contain shingles, tiles, metal panels, membranes, etc. The demand for roofing materials is driven by several factors such as construction activity, climate, and government regulations. In past years, the aim of sustainable and eco-friendly roofing solutions increases due to their energy efficiency, durability, and low maintenance costs. The global roofing materials market is estimated to observe substantial growth in the coming years owing to the rising demand for residential and commercial construction projects.
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- By material, in 2022, the roofing materials market was dominated by the concrete & clay tile roofs segment due to increased demand from the construction industry.
- By application, the residential segment dominated the largest market share in application analysis and accounted for the largest revenue share in the roofing materials market in 2022.
- In 2022, Asia Pacific dominated the market with the highest revenue share of 32%.
- APAC is anticipated to have the highest CAGR among all the regions.
- North America & Europe is expected to grow at a greater pace owing to the prevalence of commercial and residential buildings.
Factors affecting the growth of the Roofing Materials industry?
There are several factors that are affecting the growth of the roofing materials industry. These include:
- Economic conditions: Demand for roofing materials is closely related to the health of the overall economy. In a strong economic climate, construction activity increases and roofing materials are in greater demand.
- Population growth: As the population increases, the demand for new homes and buildings commercially also increases. This increases the demand for roofing materials.
- Climate and weather patterns: Excessive weather events such as hurricanes and tornadoes can damage roofs. This may lead to the need for repairs or replacements. Climate change also affects the industry as new materials and technologies are being developed to increase roofs’ resistance to changing weather patterns.
- Technological advances: New roofing materials are constantly being developed, including materials that are more durable, energy-efficient, and sustainable. This can create opportunities for growth within the industry.
- Government regulations: Government regulations can also have an impact on the roofing materials industry. For example, incentives to encourage green building practices may drive demand for eco-friendly roofing materials. Changes to building codes could also require the use of specific roofing materials.
- Consumer preferences: Consumers’ preferences for roofing materials may also influence the industry. For example, a growing interest in energy-efficient and environmentally-friendly products can create demand for new types of roofing materials.
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Top Trends in Global Roofing Materials Market
Manufacturers and suppliers are persistently adapting to the changing requirements of their customers. The market contains the growing use of recycled materials in roofing products to promote sustainability and waste reduction. The demand for lightweight roofing products is also increasing, as they are easy to install and transport. They also offer customizable roofing options that allow customers to design roofs according to their preferences and needs. Drones and artificial intelligence (AI) are becoming more popular for roof inspections and maintenance. These technological advancements enable vendors to more efficient and cost-effective management of roofs.
The roofing materials market is likely to see significant growth in the future. Market growth of roofing materials is driven by several factors such as population growth, economic conditions, and technological advancements. Also, there is an impact of changes in consumer preferences & government regulations expected to cater to the market expansion. The demand for sustainable and energy-efficient roofing materials is likely to produce the latest opportunities for growth in the industry. With the help of technology, the market drive innovation with new materials and techniques being developed to make roofs more durable and weather-resistant.
Asia Pacific is the leading region in terms of value in the global roofing materials market holding a market share of 32% and projecting a CAGR of 4.7% during the forecast period. Residential, commercial, and industrial sectors are growing due to rapid urbanization and increasing construction activities in countries such as China and India. However, North America and Europe witness significant growth due to the prevalence of commercial and residential buildings and strict regulations endorsing sustainable construction practices. Growing tourism, retail trade, and business turnover in the states of the European Union are likely to boost construction activities in the same.
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Scope of Report
|Market Value (2022)
|USD 117.8 Billion
|Market Size (2032)
|USD 177.6 Billion
|CAGR (from 2023 to 2032)
|Asia Pacific Revenue Share
|2016 to 2022
|2023 to 2032
The demand for roofing materials increases as the construction industry expands. The increasing emphasis on energy efficiency is also driving demand for roof materials that can reduce the energy consumed by buildings. The development of roofing materials with superior reflective & insulation properties has been a result. Metal roofing is a long-lasting material that stays for a longer duration than other materials and it is likely to expand at a greater pace due to rising instances of wildfires. Metal roofing is a prominent fire-resistant roofing option that enables modern fire codes & protects their building from fire. The market for roofing materials is likely to grow in the coming years due to these factors.
Consumers have low disposable income to spend on home repairs or renovations at the time of economic downturns. The market has seen huge competition with new potential entrants which disrupts existing players. The resurfacing of worn-out roofs elaborates a huge investment of time, electricity, and money. Environmental regulations can also rise manufacturing costs and limit demand for roofing materials. Adverse climatic conditions may alter product quality such as some of the materials cannot survive excessive heat and ultraviolet emission from sunlight but easily invalidate extended freeze-thaw cycles.
The market is endorsing a huge demand for energy-efficient and sustainable roofing materials such as solar shingles, cool roofs, and green roofs. Also, the development of smart roofing materials which have self-regulate temperature and moisture is likely to further drive demand. Government regulations across the world promote sustainable construction practices which are likely to propel market growth.
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Report Segmentation of the Roofing Materials Market
The material further divides the market into asphalt shingles, concrete & clay tile roofs, metal roofs, plastic roofs, and other materials. Concrete & Clay Tile Roofs are expected to be the most lucrative segment in 2022, with a market share of 30% and a projected CAGR of 4.8% through 2022. Concrete and clay tile roofs include a variety of styles & colors which makes them a prevalent option for both residential and commercial buildings. However, the Asphalt shingles segment is likely to register the highest CAGR of 5.2% in terms of value during the forecast period.
Based on application, the market for roofing materials is separated into residential, commercial, and industrial. The residential segment is projected to be the most lucrative in the global roofing materials market boasting a projected CAGR of 4.4% through 2022. In 2022, its total revenue share will reach 55%. Residential roofing consists of the installation of roofs on individual homes or apartments. The need for safe & comfortable housing increases the demand for residential roofing at this pace. The factors such as durability, strength, aesthetics, and energy efficiency play an important role when choosing roofing materials for homeowners and builders. The residential segment is expected to enlarge as the construction industry continues to grow at a greater pace in the future.
For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/roofing-materials-market/request-sample/
Based on Material
- Asphalt Shingles
- Concrete & Clay Tile Roofs
- Metal Roofs
- Plastic Roofs
- Other Materials
Based on the Application
- North America
- The US
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- The Czech Republic
- Rest of Eastern Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Latin America
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
Companies are investing heavily in integrated raw material production and sales activities to excel in product quality and market demand. To boost global revenues for roofing materials companies are employing merger and acquisition tactics. Also, the companies make a strong network of qualified contractors to ensure the quality of the roof installation for a better customer experience.
Some of the major players include:
- GAF Materials Corporation
- Atlas Roofing Corporation
- Owens Corning
- TAMKO Building Products, Inc.
- CSR Ltd.
- Carlisle Companies Inc.
- Crown Building Products LLC
- Metal Sales Manufacturing Corporation
- Wienerberger AG
- CertainTeed Corporation
- Johns Manville
- Fletcher Building Limited
- Eagle Roofing Products
- Boral Roofing
- Other Key Players
Recent Development of the Roofing Materials Market
- In February 2021, CSR Ltd. Revealed the acquisition of AFS Systems which is a leading producer of pre-fabricated building systems in Australia. This acquisition is likely to expand companies’ product portfolio and strengthen its position in the Australian building materials market.
- In November 2020, Johns Manville revealed the acquisition of ITW Insulation Systems a leading manufacturer of insulation and waterproofing products for the commercial and industrial markets. This results in the expansion of Johns Manville’s product portfolio and strengthens its position in the commercial roofing market.
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Tata Elxsi and Telefónica Collaborate to Achieve True Cloud-Native Infrastructure Management, Revolutionising Telecommunications Landscape
BENGALURU, India and BARCELONA, Spain, Feb. 27, 2024 /PRNewswire/ — Tata Elxsi and Telefónica proudly announce a groundbreaking achievement in the realm of the automation of cloud infrastructure for telecommunications, with the successful implementation of true cloud-native infrastructure management powered by ETSI Open-Source MANO (ETSI OSM). This milestone represents a significant evolution in network management, enabling operators to build intent-driven network systems with unprecedented efficiency and agility.
Through this collaboration, Tata Elxsi and Telefónica have enhanced the capabilities of OSM, introducing innovative features such as infrastructure automation, serverless operations execution environments, and the deployment of multi-cloud Platform-as-a-Service (PaaS) solutions. These advancements mark a new phase in the evolution of Telco Cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
The integration of OSM with Tata Elxsi’s award-winning NEURON platform represents a pivotal moment in multi-domain transformation towards autonomous network systems. NEURON’s business intent-driven functionalities, coupled with OSM’s platform, provide operators with unparalleled control and flexibility in managing complex infrastructures.
“In our collaboration with Tata Elxsi, our objective is to advance the boundaries of technology and standardization, propelling operators towards cloud-native agility,” emphasised Francisco-Javier Ramón, Multicloud Tools Manager in gCTIO Unit at Telefónica.
“We are thrilled to partner with Telefónica to revolutionize the orchestration landscape,” commented B. Ramesh Ramanathan, Principal Architect, CTO Office at Tata Elxsi. “This collaboration enhances our presence within the open-source community and propels NEURON towards the realm of 5G and beyond and autonomous networks.”
The strategic collaboration between Tata Elxsi and Telefónica sets the stage for future advancements in Telco Cloud technology, paving the way for cutting-edge solutions that address the evolving needs of the telecommunications industry. Powered by OSM, NEURON now possesses the capability to seamlessly integrate infrastructure, services, security, networking, and configuration into a unified, intent-driven deployment.
Please visit MWC Hall 2 – 2A53MR to see the joint demonstration by Telefónica and Tata Elxsi.
About Tata Elxsi
Tata Elxsi is a global design and technology services company that blends technology, creativity, and engineering to help customers transform ideas into world-class products and solutions. With expertise in industries such as automotive, broadcast, communications, healthcare, and more, Tata Elxsi is committed to driving innovation and delivering value to its clients worldwide. For more information, visit www.tataelxsi.com.
Telefónica is a leading telecommunications company operating in Europe and Latin America. With a presence in over 15 countries and a customer base exceeding 350 million, Telefónica is committed to providing cutting-edge solutions and services that enable individuals, businesses, and communities to connect and thrive in the digital world.
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Netcore Unbxd’s Strategic Expansion in Europe Fuels 150% Revenue Growth, Redefining Ecommerce in Europe
LONDON, Feb. 27, 2024 /PRNewswire/ — Netcore Unbxd, a leading AI-powered Commerce Search and Product Discovery landscape player, proudly announces exceptional growth in the UK and European markets. This growth which has tripled in the last year, is marked by the successful onboarding of market-leading retailers, including Waitrose, Unilever Europe, Camper Footwear, Dobbies, Alohas, OceansApart, Goodform, and ResMed Europe. What sets this accomplishment apart is its tangible impact on the retailer’s bottom line, as they leverage the advanced capabilities of Netcore Unbxd’s platform, resulting in an impressive 40% surge in revenue and a substantial 25% increase in conversions.
As a wholly owned subsidiary of Netcore Cloud Pvt Ltd, Netcore Unbxd has strategically scaled its teams across key markets in the UK, France, Spain, and Portugal. Unbxd’s data infrastructure spans five regions, including one in the EU. Additionally, the region has established a comprehensive Go-To-Market (GTM) team comprising skilled professionals in customer success, account management, and sales to reinforce its commitment to providing exceptional services and support to its expanding clientele.
Netcore Unbxd’s success lies in the compelling stories of its customers, which include:
Fishpools, a significant player in the UK furniture industry, experienced a 51% increase in Average Order Value (AOV) and a 20% surge in search-related revenue within 12 months of implementing the Unbxd platform.Wex Photo Video, a leading electronics retailer, saw a remarkable 35% reduction in bounce rates within the same period.The company’s recognition as a leader in the Forrester Wave report in the Commerce Search and Product Discovery category in Q3 of 2023 further solidifies its position in the market. This is in addition to Netcore’s previous recognition as a top vendor in Email Marketing Services (Q1 2022) and Cross-Channel Marketing (Q1 2023).
Netcore Unbxd’s advanced AI technology empowers retailers to deliver highly personalised shopping experiences, optimising product discovery and ensuring a seamless shopper journey. The region’s platform has been highly successful, offering enterprise features such as omnichannel search, natural language processing (NLP) models, and multi-language understanding. Recent collaborations with industry leaders such as Unilever and Waitrose highlight the platform’s effectiveness across diverse UK and European sectors.
Nishant Jain, COO of Netcore Unbxd, stated, “Our vision is to revolutionise the ecommerce landscape by leveraging AI technologies like large language models (LLMs) and vector models to enhance product discovery. Netcore Unbxd, a platform designed for enterprise retailers, has observed a significant 150% growth in revenue within the region over the past year.”
Laura Burbedge, Director of Online at Waitrose, said, “We know that our customers are busy and have lots of demands on their time – they need to be able to fill their online shopping trolley quickly and easily with minimal effort. Through working with Unbxd we have already seen a significant improvement in customer satisfaction with our search feature, with more personalised results.”
As AI continues to evolve in ecommerce, Netcore Unbxd remains well-positioned to leverage innovative solutions that empower businesses to stay ahead of the curve.
Netcore Unbxd is a cutting-edge AI-powered product discovery platform that elevates the ecommerce experience with personalised interactions. By providing a range of solutions, including contextually relevant Search, Personalisation, and Product Recommendations, alongside an intelligent Product Information Management (PIM) platform and an intuitive merchandising console, Unbxd offers brands the tools to optimise their ecommerce objectives. Noteworthy global brands such as Unilever, MattressFirm, Waitrose, Advance Auto Parts, Dillard’s, The Children’s Place, HSN, and Wex have trusted Unbxd. Across the world, Unbxd consistently delivers exceptional shopping journeys to countless online visitors at scale.
Media Contact:Mekhala [email protected]
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ZwickRoell selects IFS Cloud to drive operational efficiency and support growth
IFS Cloud ERP will streamline ZwickRoell’s processes to reduce complexity and improve efficiencies to build business resilience.
LONDON, Feb. 27, 2024 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced that ZwickRoell Gmbh & Co.KG, a leading worldwide manufacturer of materials testing equipment, has selected IFS Cloud in a strategic move to harmonize its business processes and deliver enhanced visibility across its operations.
The move to IFS Cloud was driven by the need to modernize its current Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solution, which could no longer meet the business’ requirements needed to support its strategic growth plans. Amid industry challenges, including global supply chain disruption, meeting sustainability goals and readiness for increased automation, ZwickRoell sought a new solution that would simplify its daily operations and eliminate existing IT operating risks.
IFS Cloud will enable the company to harmonize its disparate systems and simplify processes across its operations, driving continuous improvements and efficiency. With IFS Cloud, ZwickRoell will benefit from a single, composable digital platform that is designed to fit the needs of its complex manufacturing cycle today, from product development through to service and maintenance, and scale in future.
A key advantage of IFS Cloud is its evergreen model, which allows ZwickRoell to seamlessly integrate composable business applications across ERP, Enterprise Asset Management (EAM) and Field Service Management (FSM) as needed, enabling a solid data foundation across organization, and therefore delivering faster time to insight and minimizing costs. IFS Cloud will also enable the company to easily integrate users from MS Dynamics CRM systems, one of ZwickRoell’s key requirements.
Klaus Cierocki, CEO of ZwickRoell, said: “We are excited to begin a new chapter with IFS. Their manufacturing industry expertise and leading enterprise software differentiated them during the competitive selection process and they have given us complete confidence that they will support. IFS Cloud will provide us with the single platform that we knew was necessary to properly support our entire manufacturing and production cycle, ultimately helping us deliver better value to our customers and to build resiliency and agility into our business.”
Frank Beerlage, Managing Director DACH, IFS, said: “ZwickRoell is a strong family-run organization with traditions reaching back 160 years. Its values of honesty and fairness and its commitment to its customers are deeply aligned with IFS’s own mission. Globally, we are seeing manufacturers are increasingly accelerating their adoption of cloud-enabled solutions to enable the agility needed in the face of global challenges. We look forward to partnering with ZwickRoell on their digital transformation journey with IFS Cloud a core part of their strategic growth plans.”
The scale of deployment will include 1,390 users and two sites in Germany and Austria, with an 18-month global rollout to follow.
For more than 160 years ZwickRoell has delivered outstanding technical performance, innovation and quality, in materials and component testing. ZwickRoell testing machines are used in R&D and quality assurance in more than 20 industries with one common goal – reliable test results This is ensured by a team of 1,900 dedicated employees in +50 countries, with competence, openness and passion.
Learn more about how automation and digitalization can make testing processes more efficient, simpler and safer at zwickroell.com
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
IFS Press Contacts:EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7018 607 299
The following files are available for download:
ZwickRoell PR Final
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