Market Size of Philippines Roofing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Roofing Market Analysis
The Philippine roofing market size was estimated at 21,853 thousand square meters in 2020, and the market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the construction works were on temporary halt, which led to a decrease in the demand in the roofing market during the government-imposed lockdown. However, the construction industry is picking up the pace in the post-COVID scenario, and it is estimated to grow in the forecast period, which is likely to enhance the demand in the Philippine roofing market in the coming years.
- Over the medium term, the growth in the construction of residential and non-residential buildings and the trend of adopting green buildings in the Philippines are expected to drive the market.
- The residential sector dominated the roofing market in the Philippines, and it is expected to grow during the forecast period, owing to the growing construction activities in the country.
- Unfavorable conditions arising due to the impact of COVID-19 can act as a barrier to the growth of the market studied.
- Ongoing and upcoming infrastructure projects and growing prominence for solar rooftop installations are likely to act as opportunities in the future.
