Roofing Tiles Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

Market Overview

The roofing tiles market is projected to register a CAGR of more than 6.5% during the forecast period (2022-2027).

The market growth is hampered by the COVID-19 pandemic, as lockdowns, social distancing measures, and trade sanctions have triggered massive disruptions to global supply chain networks. Due to lockdowns in various countries, most industries or factories were temporarily shut down, which impacted the building and construction sector. However, the construction sector registered positive growth in 2021, resulting in the recovery of the market studied.

• 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 raw material prices 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 market during the forecast period.
• The Asia-Pacific region dominated the roofing tiles market globally, 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 the rain. They are traditionally made from locally available materials, such as terracotta or slate. The primary reasons behind the 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 tiles, concrete tiles, and other types (ceramic tiles and asphalt tiles). By end-use sector, the market is segmented into residential and non-residential. The non-residential segment is sub-segmented into commercial, infrastructure, and industrial. The report also covers the market size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

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Key Market Trends

Residential Construction to Witness Noticeable Growth

• The increasing middle-class population, coupled with increasing disposable income, facilitated the expansion of the middle-class housing segment. This factor may boost the use of roofing tiles during the forecast period (2022-2027).
• The usage of roofing tiles for residential applications can reduce the overall heat transfer into the attic space by almost 70% compared to an asphalt shingle roof. Roofing tiles are available for various types of residences, including single-family homes, townhomes, condominiums, and apartment buildings.
• Due to expanding housing construction activities in China, India, and the United States, the roof tiles market is excepted to register a healthy growth rate in Asia-Pacific and North America.
• According to the US Censor Bureau, the total privately-owned housing units authorized by building permits in December 2021 were 1,873,000, 9.1% more than the revised rate of 1,717,000 in November. In 2021, an estimated 1,724,700 housing units were authorized by building permits, 17.2% more than 1,471,100 in 2020.
• In India, the government allocated funding for housing with the National 2021 Budget, including INR 50,000 crore allocated to the Ministry of Housing and Urban Development (MoHUA), as well as the creation of USD 3.5 billion (about INR 25,300 crore) fund to support the completion of stalled housing projects. Thus, such investments are anticipated to boost the roofing tiles market in India.
• All these factors are expected to boost the market for roofing tiles during the forecast period.

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