Market Overview

The market for roofing tiles is expected to register a CAGR of around 6.7%, during the forecast period (2019-2024). Major factors driving the market studied are increasing demand from the construction sector in Asia-Pacific, and growing favourable government policies for green buildings. On the flipside, the high cost of raw materials is expected to hinder the growth of the market studied.

• Concrete roofing tiles segment dominated the market in 2018, and is expected to grow further during the forecast period, with robust growth of construction activities across the world.
• 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

The roofing tiles market report includes:

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Key Market Trends

Residential Construction to Witness Noticeable Growth

• The increasing middle-class population, coupled with their increasing disposable income, has 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 their 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 region, due to the expanding housing construction market in China and India. 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 immensely drive the residential construction segment in the country.
• In South America, Brazil is suffering a volatile economy, which has reduced activities in the residential construction industry. However, the Brazilian house builder, MRV, has predicted a growth, despite recession.
• All the aforementioned factors are expected to increase the market for roofing tiles, during the forecast period.

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