Roofing Materials Market Size, Share, Growth Analysis, By Product (Asphalt Shingles, Concrete & Clay Tiles), By Application (Residential, Non-residential), By Region - Industry Forecast 2024-2031

Global Roofing Materials Market size was valued at USD 125.2 billion in 2022 and is poised to grow from USD 129.96 billion in 2023 to USD 175.14 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2024-2031).

The global roofing materials market is characterised by a competitive landscape with several key players operating in the industry. These players compete based on factors such as product quality, innovation, pricing, and distribution networks. The market comprises a mix of global and regional manufacturers, each with their own strengths and market presence. Innovation plays a crucial role in maintaining a competitive edge in the roofing materials market. Companies strive to develop new and advanced materials that offer improved performance, durability, and energy efficiency. Moreover, sustainable roofing solutions and eco-friendly materials have gained traction, leading to increased competition in this segment. Establishing strong distribution networks is another important aspect of the competitive landscape. 'Owens Corning ', 'Saint-Gobain ', 'GAF Materials Corporation ', 'Carlisle Companies Incorporated ', 'BMI Group ', 'IKO Industries ', 'Firestone Building Products ', 'TAMKO Building Products, Inc. ', 'Boral Limited ', 'Sika AG ', 'Monier Group ', 'Beacon Roofing Supply, Inc. ', 'Eternit SA ', 'Wienerberger AG ', 'Tata BlueScope Steel ', 'Fletcher Building Limited ', 'National Roofing Contractors Association (NRCA)'

The growing emphasis on energy-efficient buildings and sustainable construction practices has boosted the demand for roofing materials that offer superior thermal insulation properties and reduce energy consumption. Energy-efficient roofing materials help in reducing heating and cooling costs, leading to their increased adoption.

Increasing Demand for Sustainable and Eco-Friendly Materials: There is a growing emphasis on sustainable and eco-friendly roofing materials. Consumers and businesses are increasingly seeking roofing solutions that minimise environmental impact, promote energy efficiency, and offer long-term durability. This trend is driving the adoption of materials such as recycled content, cool roofs, green roofs, and solar roofing systems.

The dominating region in the global roofing materials market is North America, which holds a significant market share. With the presence of renowned casinos in Las Vegas and Atlantic City, North America has established itself as a gambling hub. The region boasts a thriving casino industry and is home to several major players in the gaming equipment market. The demand for cutting-edge gaming machines, electronic gaming tables, and other equipment is consistently high in this region, driving the growth of the market. North America's market share is estimated to be around 40%, making it a key player in the global Roofing Materials market.