Persistence Market Research
The growing construction industries, rapid urbanization and advancement of new product and technology are propelling demand for the global metal roofing market in the coming years. In addition, growing investment by government in several economies such as Malaysia, Indonesia, China and India in the construction industry is driving growth of the global metal roofing market in the coming years. High durability of metal roofs, easy installation and long life span is another trend promoting growth of the global metal roofing market in the coming years.
The increasing number of commercial projects around the globe such as hospitals, schools and hotel is driving growth of the global metal roofing market in the year to come. The favorable properties of metal roofs for instance improved air quality, reduction in noise and reduction of expense incurred for air conditioner are likely to drive growth of the global metal roofing market in the foreseeable future.
On the other hand, high cost related with the installation and expensive metal roofing is major restraints affecting growth of the overall metal roofing market. In addition, in the snowy areas metal roof is not chosen as the snow falls and slip on pedestrians and property and this is another factor majorly hampering growth of the global metal roofing market in the year to come.
From the geographical point of view, Asia Pacific is likely to dominate in the global metal roofing market due to rising infrastructural growth in commercial and industrial sector, especially in developing economies such as China and India. The migration of people from rural to urban area is likely to propel growth of the global metal roofing market in these regions. Therefore, stimulating growth of the global metal roofing market in the upcoming years.
Metal Roofing Market: Introduction
As the name suggests, metal roofing is a roofing system made of metal or tiles. Metal roofs have a lifespan of approximately one hundred years and majority of manufacturers provide a 50-year warranty, which reflects positively on the sales of metal roofing and is expected to continue doing so during the forecast period. Installation of metal roofing offers a myriad of advantages, such as distinctive beauty, energy efficiency, fire safety, elimination of leaks & ice dams, high wind resistance and curbs fungus or moss growth. Attributing to such favorable properties, metal roofing is expected to garner attention from end users and the market is expected to gain traction over the forecast period.
Metals roofs are generally 100% recyclable and reflect heat and sunlight. They also minimize energy loss and energy cost and their light weight makes them suitable for use in old buildings as they provide integrity to the structure. Metal roofs also provide resistance against wind. Developing countries, such as India and China, are estimated to drive the metal roofing market. For instance, in 2015, the State Council of China announced the renovation of 8 million apartments and construction of 16 million new apartments.
Metal Roofing Market: Dynamics
Rapid urbanization, rising construction industry and development of new products and technology are expected to drive the metal roofing market during the forecast period. Investments by the governments of emerging economies, such as China, India, Indonesia and Malaysia, in the construction industry, coupled with the long lifespan, easy installation and high durability of metal roofs, are expected to further propel the global metal roofing the market during the forecast period.
Rise in the number of commercial projects across the globe, such as hotels, hospitals and schools, is expected to accelerate the growth of the metal roofing market during the forecast period. Favorable properties of metal roofs, such as noise reduction, improved quality of air and reduction in cost incurred for air conditioning, are expected to drive the metal roofing market during the forecast period.
High investment cost associated with the installation and high capital cost for Metal roof is expected to act an obstacle in the growth of Metal Roofing Market during the forecast period. In the snowy areas metal roof is not preferred as the snow slips and falls on property or pedestrians which is expected pose restraint in the growth of the Metal Roofing Market.
Metal Roofing Market: Segmentation
The metal roofing market can be segmented on the basis of product type as:
The metal roofing market can be segmented on the basis of application as:
Metal Roofing Market: Regional Outlook
Asia Pacific is expected to witness robust growth in the metal roofing market, owing to the rising infrastructural development in commercial and industrial sectors, particularly in emerging economies, such as India and China. Along with this, migration of population from rural to urban areas in these economies is expected to propel the demand for metal roofs, thereby leading to the growth of the metal roofing market during the forecast period.
North America and Europe are expected to witness significant growth in the metal roofing market. This can be attributed to the high standard of living in these regions, which is leading to the renovation of building projects.
The metal roofing market in Latin America and Middle East & Africa (MEA) regions is expected to grow during the forecast period as Manufacturers are establishing long term contacts with customers.
Metal Roofing Market: Market Participants
Examples of some of the market participants in the metal roofing market are:
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