Steel Roofing Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Steel roofing is a market that is expected to grow steadily, with a current value of USD 12.40 billion in 2024, and is expected to reach USD 17.52 billion by 2032. The CAGR of this market is 4.4% during the forecast period. The demand for durable and energy-saving roofing solutions, combined with the growing trend of sustainable construction, is the main growth driver of this market. Steel roofing is a good choice for its sturdiness and recyclability. Technological advances in steel production and coating processes have made steel roofing more popular. These advances, such as the development of reflective coatings to reduce the heat absorption of roofs, and the development of new production methods to reduce costs, are also driving the growth of this market. The major players in this industry, such as CertainTeed, Owens Corning, and Metal Sales Manufacturing, are taking advantage of these market opportunities through strategic cooperation and product launches. Recent collaborations to develop eco-friendly roofing solutions, for example, have highlighted the industry's commitment to sustainable development, and steel roofing has become an important material for the future of construction.

Regional Market Size

Regional Deep Dive

The Steel Roofing market is expected to grow at a CAGR of over 6% by 2021, owing to the increasing construction activities, increasing adoption of sustainable building materials, and technological advancements. North America is characterized by the strong preference for durable and energy-efficient roofing solutions. Europe is characterized by the rising adoption of eco-friendly and sustainable building materials. The Asia-Pacific region is expanding rapidly, owing to urbanization and the development of infrastructure. The Middle East and Africa are expanding, owing to government initiatives and increasing investment in the housing sector. Latin America is also characterized by the strong preference for energy-efficient and durable roofing solutions, to withstand the extreme weather conditions.

Europe

• This is the result of innovations in the manufacture of steel roofs, such as the development of lightweight, high-strength materials that improve performance and reduce installation costs, a field in which the company Tata Steel is a leading force.
• The European Union's Green Deal is encouraging the use of sustainable materials, including steel roofing, which is expected to drive market growth as builders seek to comply with new environmental regulations.

Asia Pacific

• The Asia-Pacific region is witnessing a surge in urbanization, particularly in countries like India and China, where government initiatives such as the Smart Cities Mission are promoting the use of modern roofing materials, including steel.
• Innovations in manufacturing processes, such as the introduction of pre-painted steel sheets, are making steel roofing more accessible and appealing to consumers, thereby boosting market growth.

Latin America

• Latin America is seeing a growing demand for affordable housing solutions, with steel roofing being recognized for its cost-effectiveness and durability, particularly in countries like Brazil and Mexico.
• Recent collaborations between local governments and private companies are focusing on sustainable construction practices, which include the promotion of steel roofing as a viable option for new housing developments.

North America

• The North American market is heavily influenced by the growing trend of energy-efficient buildings, with organizations like the U.S. Green Building Council promoting sustainable roofing solutions that include steel roofing systems.
• Recent regulatory changes, such as the adoption of stricter building codes in states like California, are pushing builders to consider steel roofing for its durability and energy efficiency, leading to increased demand.

Middle East And Africa

• In the Middle East, the market is being driven by large-scale infrastructure projects, such as the NEOM project in Saudi Arabia, which emphasizes the use of advanced building materials like steel roofing.
• Government programs aimed at improving housing quality in Africa are leading to increased investments in durable roofing solutions, with steel roofing being favored for its resilience against harsh weather conditions.

Did You Know?

“Did you know that steel roofing can reflect up to 70% of the sun's rays, significantly reducing cooling costs in buildings?” — Cool Roof Rating Council

Segmental Market Size

Steel roofing is currently experiencing stable growth, driven by the growing demand for durable and energy-efficient building materials. The awareness of the importance of energy efficiency and the environment is gaining momentum. Moreover, the number of regulations promoting green building has increased. Energy Star, a US government program, encourages the use of reflective roofing materials, which reduces energy consumption in residential and commercial buildings. Steel roofing has already been adopted in many countries, but it is still in the early stages of development. In the United States, for example, the use of steel roofing is widespread in the midwest, where it is widely used in both commercial and residential buildings. Steel roofing is mainly used in residential roofing, commercial buildings and industrial buildings, where its long life and low maintenance requirements are appreciated. Several trends are driving the growth of this market. The growing demand for sustainable building materials and government regulations requiring energy-efficient buildings, along with the development of new production methods, such as improved coatings, are enhancing the performance and aesthetics of steel roofing products.

Future Outlook

Steel roofing will be a growth market from 2024 to 2032. The market is expected to increase from $13.91 billion to $17.75 billion, at a compound annual growth rate of 4.48 per cent. Increasing demand for long-lasting and energy-efficient roofs will be based on the awareness of the advantages of sustainable building and the long-term cost advantages of steel roofing. Moreover, the growing trend towards urbanization, especially in emerging markets, will continue to increase the penetration of steel roofing. It is expected that by 2032 the share of steel roofing in the total roofing market in key regions such as North America and Europe will reach more than 30 per cent. The development of new lightweight, corrosion-resistant steels and new coatings to enhance energy efficiency will also drive the market. The introduction of government policies aimed at promoting sustainable building and energy-efficient construction will also encourage the use of steel roofing. Emerging trends, such as the integration of smart technology into roofing systems and the growing popularity of steel roofing for residential buildings, will also affect the market. The market will develop and new opportunities will arise for manufacturers and suppliers.