The market is segmented by Type (Clay, Concrete, and Other Types), End-use Sector (Residential and Non-residential), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Fastest Growing Market:
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The market for roofing tiles is expected to register a CAGR of more than 6.5%, during the forecast period. Major factors driving the market studied are increasing demand from the construction sector in Asia-Pacific, and growing favorable 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 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:
Rest of Asia-Pacific
Rest of Europe
Rest of South America
Middle-East and Africa
Rest of Middle-East and Africa
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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, North America region, due to the expanding housing construction market in China, India, United States, etc.
The United States dominated the North America region with a rapidly growing rate of residential construction. According to US Censor Bureau, in 2018, residential construction increased by about 2.5 % from the previous year.
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 housebuilder, MRV, has predicted a growth, despite the recession.
All the aforementioned factors are expected to increase the market for roofing tiles, during the forecast period.
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The Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominated the roofing tiles market. With growing investments in the 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 development or planning stage. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Additionally, the government rolled out massive construction plans for the movement of 250 million people to its new megacities, over the next 10 years.
In India, the government’s investment target of USD 120.5 billion for developing 27 industrial clusters is expected to boost commercial construction in the country.
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, Etex, IKO, Wienerberger, and Crown Roof Tiles, among others.