Market Trends of Philippines Roofing Industry
This section covers the major market trends shaping the Philippines Roofing Market according to our research experts:
Metal Roofing to Dominate the Market
- Metal roofing is the most popular option for residential roofs in the Philippines. The largest metal roofing sheet is the most consolidated type of metal roofing, while the smallest wedge panels have been developed in recent decades to simulate the appearance of tiles and slates.
- Metal roofing's life expectancy is more than thrice the durability of asphalt shingles, and warranties vary widely. However, most companies back their products for 20-50 years.
- Metal roofing is also highly customizable. There are varieties of metal roofing designs, along with various lengths, widths, and thicknesses, which can contribute to the uniqueness of the house. Apart from these advantages of metal roof, it is also energy-efficient and affordable.
- Most of the metal roofing materials can be installed on gently pitched roofs without leaking, where the minimum roof pitch typically is 3-in-12 (the roof rises 3 inches for each horizontal foot).
- In the third quarter of 2020, the total number of constructions was 28,696, registering an annual decline rate of 35.3%, which in turn led to a decrease in the demand for metal roofing, thus, creating a negative impact on the growth of the Philippine roofing market.
- Therefore, the aforementioned factors are expected to show a significant impact on the Philippine roofing market in the coming years.
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Residential Construction to Dominate the Market
- Residential construction accounted for the largest share in the market studied, with a total of 20,178 residential construction in the Philippines during the third quarter of 2020, registering an annual decline rate of 37.2%, which, in turn, negatively impacts the demand in the Philippine roofing market.
- In the third quarter of 2020, the total value of constructions amounted to PHP 28.9 billion in the Philippines, indicating an annual decrease of 46%.
- In the residential segment, single-type houses contributed a major share, with 85.7% or 17,294 in the third quarter of 2020, out of all the residential constructions.
- Single-type and duplex/quadruple-type houses are almost the only consumers for roofing materials, while apartments with penthouses can be of very least significance in creating the demand for roofing materials.
- Therefore, the aforementioned factors are expected to show a significant impact on the Philippine roofing market in the coming years.
