The steel roofing market is expected to be valued at USD 4.7 Billion by 2030: MRFR

Market Research Future (MRFR) Announces the Publication of its Cooked Research Report — Global Steel Roofing Market 2021–2027.Overview

The global steel roofing market is projected to be valued at USD 23.38 billion by 2027, with a 5.10% CAGR during the forecast period.

The report covers segmentation and drivers for a better glimpse of the market in the coming years. The steel roofing market has registered significant growth in adoption rates over the past few years due to therising investments in the development of affordable housing structures and growing demand for durable, energy-efficient building products.

Competitive Analysis

A number of local and regional players operate in the global market. These players offer significant competition to the major established players such as the Kingspan Group, Tata Steel Europe, and Safal Group in terms of costs and customization services. These companies often have well-established professional relationships with the local roofing contractors. However, leading companies are such as Nucor Building Systems and EDCO Products have established a network of the authorized building contractor. These contractors guide customers in choosing ideal roofing materials best suited for their requirements.

Kingspan, Nucor, Cornerstone, Tata, Safal, EDCO, and JSW Steel Coated Products Ltd held a considerable share in the global market in 2020. Fletcher Steel, Blachy Pruszyński, Ideal Roofing, ATAS International, Inc., McElroy Metal, BILKA, Reed's Metals, and BlueScope Steel Limited are some of the key companies operating in the market.

Segmental Analysis

Rising investments in the development of affordable housing structures and growing demand for durable, energy-efficient building products are expected to drive the demand for steel roofing over the forecast period. The global market for Steel Roofing has been segmented based on type, application, and region.

Based on type, the global steel roofing market has been segmented into corrugated sheet panels, steel shingles and shakes, stone-coated steel tiles, and standing seam. In 2020, the standing seam segment emerged as the largest segment with a 38.16% market share of the overall steel roofing market. It is projected to register a significant CAGR during the projected timeframe.

Based on application, the global steel roofing market has been bifurcated into residential and non-residential. In 2020, the non-residential segment emerged as the larger segment with a 62.37% market share of the overall steel roofing market. It is projected to register a significant CAGR during the forecast period.

Regional Analysis

Geographic analysis of the steel roofing market spans across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Asia-Pacific emerged as the largest market of the steel roofing market in 2020 and is expected to grow at a lucrative growth rate over the review period. The region is expected to witness increased construction spending over the forecast period due to rapid urbanization. According to a report published by the Asian Development Bank in 2019, the Asia-Pacific construction market is anticipated to witness significant growth over the next decade. The rapid growth of the industrial sector in the key emerging economies within the region is likely to positively impact the demand for various types of roofing materials, including steel roofing, over the forecast period. Furthermore, the ongoing investments in the development of public infrastructures such as offices, building hospitals, and educational facilities in the region will lead to greater demand for steel roofing.Access Full Report Details - Steel Roofing Market size