Steel Roofing Market Industry Analysis, Size, Share, Growth, Trends and Forecast - forecast year 2025
The global steel roofing market in
2018 was valued at 1,500 million and is predicted to grow at a 6.2% CAGR
between 2018- 2025, states the recent Market Research Future (MRFR) analysis.
Steel roofing, simply put, is a roofing system that is made of steel. Standing
seam, stone-coated steel tiles, steel shingles and shakes, and corrugated steel
panels are its different types that have wide non-residential and residential applications.
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Various factors are propelling the
global Steel
Roofing Market share. According to the recent MRFR report, such factors include
the booming construction industry, rising consumer awareness about the multiple
benefits of installing steel roofing, an increase in remodeling and
reconstruction of houses for change in consumers' preference, rapid
urbanization, and development of new technology and products. Additional
factors adding market growth include favorable investments by the government,
various benefits of steel roofing such as high durability, easy installation,
and long lifespan, increase in commercial projects worldwide such as schools,
hospitals, and hotels, and alluring features such as the reduction in cost
incurred for AC, improved air quality, and noise reduction.
On the contrary, high installation
cost, high capital cost, and the on-going COVID-19 pandemic may impede the
global steel roofing market growth over the forecast period. Besides, steel
roofs are not an ideal choice in snowy areas as the snow slips as well as falls
on the pedestrian or property, which also impacts market growth.
Market
Segmentation
The MRFR report highlights an
inclusive segmental analysis of the global roofing market based on application
and type.
By type, the global steel roofing
market is segmented into the standing seam, stone-coated steel tiles, steel
shingles and shakes, and corrugated steel panels. Of these, the corrugated
steel panels will lead the market over the forecast period as it is the best
choice to install on slopes to get away with water quickly.
By application, the global steel
roofing market is segmented into non-residential and residential. Of these, the
non-residential segment will dominate the market over the forecast period for
the increasing investments in the construction industry, especially for the
construction of schools, hospitals, and other infrastructure.
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Regional
Analysis
Based on the region, the global
steel roofing market report covers the recent trends and growth opportunities
across the Asia Pacific (APAC), North America, Europe, & the Middle East
and Africa (MEA). Of these, the APAC region is predicted to spearhead the
market over the forecast period. The booming construction industry, rising
number of construction projects, growing infrastructural development in the
industrial and commercial sector in China & India, and migration of
population to urban areas from rural areas are adding to the global steel
roofing market growth in the region.
The global steel roofing market in
North America is predicted to have healthy growth over the forecast period. The
developing construction industry, due to increased renovation and improvement
projects, is adding to the global steel roofing market growth in the region.
The US holds the utmost share in the market.
The global steel roofing market in
Europe is predicted to have significant growth over the forecast period. High
living standards resulting in more and more renovation of building projects are
adding to the global steel roofing market growth in the region.
The global steel roofing market in
the MEA is predicted to have steady growth over the forecast period for manufacturers
making long term contacts with that of customers.
Key Players
Eminent contenders profiled in the
global steel roofing market report include McElroy Metal (US), EDCO Products
(US), ATAS International, Inc. (US), Safal Group (South Africa), Ideal Roofing
(Canada), Bilka (Romania), CHIEF INDUSTRIES, INC. (US), Certainteed (US), Tata
Steel Europe Limited (UK), Kingspan Group (Ireland), Fletcher Steel Limited
(New Zealand), Blachy Pruszyński (Poland), Nucor Building Systems (US),
Cornerstone Building Brands (US), and Fabral (US).
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Market Research Future:
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Research Future (MRFR), we enable our customers to unravel the complexity of
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