|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The roofing tiles market is projected to register a CAGR of more than 6.5% during the forecast period (2021-2026).
The market growth is hampered by the COVID-19 pandemic, as lockdowns, social distances, and trade sanctions have triggered massive disruptions to global supply chain networks. Due to lockdowns in various countries, most of the industries or factories were temporarily shut down, and this impacted the building and construction sector. Over 65% of companies in the construction ecosystem have been severely affected by the prolonged construction inactivity, thus, having a negative impact on the roofing tiles market.
- Over the medium term, the growth of the roofing tiles market is likely to be driven by the increasing demand from the construction sector in the Asia-Pacific region and growing favorable government policies for green buildings.
- Fluctuations in prices of raw material and high prices of roofing tiles and their expensive installation charges are likely to hinder the market growth of roofing tiles.
- The development of solar roof tiles is likely to provide opportunities for the studied market during the forecast period.
- The Asia-Pacific region dominated the roofing tiles market across the world, with robust growth in construction activities in countries such as India, China, the Philippines, and Indonesia.
Scope of the Report
Roofing tiles are designed mainly to keep out rain and are traditionally made from locally available materials such as terracotta or slate. The primary reasons behind this growing interest in roofing tiles are their durability, elegance, and hardy disposition. The roofing tiles market is segmented by type, end-use sector, and geography. By type, the market is segmented into clay, concrete, and other types. By end-use sector, the market is segmented into residential and non-residential. The report also covers the market size and forecasts for the roofing tiles market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
Key Market Trends
Residential Construction to Witness Noticeable Growth
- The increasing middle-class population, coupled with their increasing disposable income, facilitated the expansion in the middle-class housing segment, thereby increasing the use of roofing tiles during the forecast period.
- The usage of roofing tiles for residential applications can reduce the overall heat transfer into the attic space by almost 70%, as compared to an asphalt shingle roof. Roofing tiles are available for various types of residences, including single-family homes, townhomes, condominiums, and apartment buildings. The installation of roofing tiles in residential applications is one of the most cost-effective choices due to its long lifespan.
- Despite the higher demand, there is still a significant undersupply to meet the demand for housing globally, presenting a major opportunity for investors and developers to embrace alternative methods of construction and new partnerships, to bring forward development. Working in full compliance with all relevant building standards and regulations, the companies servicing roofing tiles are providing robust housing models to the consumers.
- The highest growth is expected to be registered in the Asia-Pacific and North American regions due to the expanding housing construction market in China, India, the United States, etc.
- The United States dominated the North American region with a rapidly growing rate of residential construction. According to the US Censor Bureau, purchases of new single-family homes increased by 4.3% to a 923,000 annualized pace in January 2021 from an upwardly revised 885,000 rate in the prior month.
- Asia-Pacific has the largest low-cost housing construction segment, which is led by China, India, and various Southeast Asian countries. In India, the government initiated the project ‘Housing for All by 2022’, which is expected to drive the residential construction segment in the country immensely.
- All the aforementioned factors are expected to increase the market for roofing tiles during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the roofing tiles market. With growing investments in residential and commercial construction in countries such as India, China, the Philippines, Vietnam, and Indonesia, the market for roofing tiles is expected to increase in the coming years.
- Currently, China has numerous airport construction projects, which are either in the development or planning stage. The Civil Aviation Administration of China (CAAC) aims to construct 216 new airports by 2035 to meet the growing demands for air travel. China had a total of 234 civil airports at the end of October, and this number is likely to hit 450 by 2035. Additionally, the government rolled out massive construction plans for the movement of 250 million people to its new megacities over the next ten years.
- Thirteen major cities and provinces, including Beijing, Shanghai, and Fujian province, released investment plans and “major infrastructure” projects for 2020. Eight cities and provinces announced their investment budgets, which in total amount to 33.83 trillion yuan (USD 4.8 trillion). Another eight provinces said they would invest up to 2.79 trillion yuan in total, although they have yet to announce their plans.
- In India, the construction industry, in value terms, is expected to record a CAGR of 15.7% to reach USD 738.5 billion by 2022.
- The Indonesian government planned to invest about USD 450 billion in the construction sector by 2021, which is expected to drive residential construction in the country.
- Hence, such investments and planned projects in various countries are driving the construction activities in the region.
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The roofing tiles market is fragmented in nature. Some of the major players in the market include BMI Group, IKO Industries Ltd, Wienerberger AG, Crown Roof Tiles, and Terreal, among others.
- In October 2020, The Terreal Group, a global leader in the brick and tile industry with plants located all over the world, acquired Creaton, one of the largest German manufacturers of brick roofing tiles based in Wertingen, Bavaria.
- In July 2020, Etex announced the divestments of Marley (SA) (Pty) Ltd to Kutana Investment Group, as well as its 50% stake in RBB NV (Belgium) to BMI Group.
- In November 2018, IKO Industries Ltd. acquired the operations of the Roof Tile Group from a New Zealand-based manufacturer and builder Fletcher Building for USD 39 million.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Demand from the Construction Sector in Asia-Pacific
4.1.2 Growing Favorable Government Policies for Green Buildings
4.2.1 High Cost of Raw Materials
4.2.2 Impact of COVID-19 on the Market
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulatory Policy Analysis
5. MARKET SEGMENTATION
5.1.3 Other Types
5.2 End-use Sector
188.8.131.52 South Korea
184.108.40.206 ASEAN Countries
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Atlas Roofing Corporation
6.4.2 Boral Limited
6.4.3 Brava Roof Tile
6.4.4 Crown Roof Tiles
6.4.5 Eagle Roofing
6.4.6 Ecostar LLC
6.4.7 Entegra Roof Tile
6.4.8 Etex Group
6.4.9 Hongbo Roof Tiles
6.4.10 IKO Industries Ltd
6.4.11 Ludowici Roof Tiles
6.4.12 Marley Eternit Limited
6.4.13 Mca Clay Roof Tile
6.4.14 Monier (BMI Group)
6.4.15 Red Land Tiles
6.4.16 Ross Roof Group
6.4.17 Shandong Fangxing Roofing
6.4.18 Standard Industries Inc.
6.4.19 Trevis Perkins
6.4.21 Wienerberger AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Solar Roof Tiles
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Frequently Asked Questions
What is the study period of this market?
The Roofing Tiles Market market is studied from 2016 - 2026.
What is the growth rate of Roofing Tiles Market?
The Roofing Tiles Market is growing at a CAGR of >6.5% over the next 5 years.
Which region has highest growth rate in Roofing Tiles Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Roofing Tiles Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Roofing Tiles Market?
BMI Group, IKO Industries Ltd, Wienerberger AG, Crown Roof Tiles, Terreal are the major companies operating in Roofing Tiles Market.