They provide protection, durability, longevity, and insulation. The primary advantages of roofing tiles include fire resistance, affordability, aesthetic appeal, and ease of repair & replacement. With growing urbanization and the real estate boom, especially in developing nations, there is immense demand for quality roofing solutions in new buildings.
The global roofing tiles market is estimated to be valued at US$ 160 Billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2030.
Rapid urbanization and industrialization in Asia Pacific and rising commercial construction in North America and Europe will act as key growth drivers for the market.
Key Takeaways:
Key Players - Key players operating in the roofing tiles market include Etex Group, Wienerberger AG, Boral Ltd., Atlas Roofing Corporation, Crown Roof Tiles, Eagle Roofing, Jamont Roof Tiles, Ludowici, MCA, and Shandong Hongsalong New Materials Co., Ltd.
Key Opportunities - Rising demand for environmentally sustainable roofing solutions along with growing interest in solar roofing tiles present lucrative opportunities for manufacturers.
Global Expansion - Major players are expanding internationally through partnerships, joint ventures, and acquisitions to meet the increasing requirements in developing nations like India, China, Brazil, and Mexico.
Market Drivers:
Rising urban population is spurring the Roofing Tiles Market Demand for residential and commercial buildings which requires large-scale installation of roofing tiles for better protection, aesthetics, and durability. Additionally, rapid industrialization and infrastructure development activities are also providing a fillip to the roofing tiles market.
Market Restraints:
Fluctuating raw material prices affect the overall production cost of roofing tiles. High initial installation cost compared to alternatives and stringent environmental regulations regarding manufacturing processes can hinder the market growth to some extent over the forecast period.
Segment Analysis
Roofing tiles market can be broadly segmented into concrete tiles and clay tiles. Concrete tiles dominates the roofing tiles market as it has various advantages over clay tiles. Concrete tiles are more durable, stronger, fire resistant and weather resistant as compared to clay tiles. The manufacturing process of concrete tiles is simple and it requires less material and labor to produce. Due to these advantages, concrete tiles are highly adopted for roofing especially in commercial buildings, warehouses and industries where durability and maintenance free solution is required. Clay tiles market is declining due to high maintenance and less life span as compared to concrete tiles.
Global Analysis
Asia Pacific dominates the global roofing tiles market with highest market share. Rapid growth of construction industry in emerging economies like India and China creates high demand for roofing tiles in this region. North America and Europe are also sizable markets due to high replacement rate of old roofs with new roofing tiles.
However, Asia Pacific roofing tiles market is expected to grow fastest during forecast period with growing urbanization and increasing consumer affordability towards better roofing materials like concrete tiles. Government initiatives for infrastructure development and smart city projects further strengthens the demand in Asia.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
