|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 (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).
|Other Types (Ceramic Tiles, Asphalt Tiles)|
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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Asia-Pacific 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.
- According to Statista, China has become the largest construction market globally. In 2021, China's construction industry’s value amounted to USD 1,117.4 billion. As the government planned to focus on improving the infrastructure in small and medium-sized cities, the construction industry registered growth in the country.
- In India, the construction development sector (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activities stood at USD 26.08 billion and USD 24.72 billion, respectively, between April 2020 and March 2021.
- In Indonesia, under the National Medium-term Development Plan (2020-2024 RPJMN), the government plans to invest USD 412 billion in the development of transport, industrial, energy, and housing infrastructure projects in the country, which may help boost the roofing tiles market.
- 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 (not in a particular order) include BMI Group, IKO Industries Ltd, Wienerberger AG, Crown Roof Tiles, and Terreal.
IKO Industries Ltd
Crown Roof Tiles
- In January 2021, the Terreal Group completed the acquisition of Creaton, one of the largest German manufacturers of brick roofing tiles based in Wertingen, Bavaria. The acquisition will help Terreal target the European market in the clay roofing tiles sector.
- In September 2021, IKO Industries Ltd announced the acquisition of New Zealand-based Ross Roof Group (RRG). The acquisition will help IKO Industries Ltd expand its market in the metal roofing industry.
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 Rise in Urbanization and Industrialization in Developing Countries
4.1.2 Growing Need Among Homeowners and Renters for Remodeling, Redesigning, and Restructuring of Their Homes
4.1.3 Growing Favorable Government Policies for Green Buildings
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
5.1.1 Clay Tiles
5.1.2 Concrete Tiles
5.1.3 Other Types (Ceramic Tiles, Asphalt Tiles)
5.2 End-use Sector
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 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 Crown Roof Tiles
6.4.4 Eagle Roofing
6.4.5 Ecostar LLC
6.4.6 Entegra Roof Tile
6.4.7 Etex Group
6.4.8 Hongbo Roof Tiles
6.4.9 IKO Industries Ltd
6.4.10 Ludowici Roof Tiles
6.4.11 Monier (BMI Group)
6.4.12 Standard Industries Inc.
6.4.13 Trevis Perkins
6.4.15 Wienerberger AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Solar Roof Tiles
Frequently Asked Questions
What is the study period of this market?
The Roofing Tiles Market market is studied from 2017 - 2027.
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 2021.
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.