The Steel Roofing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Steel Roofing Global Market Report 2024, The steel roofing market size has grown marginally in recent years. It will grow from $4.21 billion in 2023 to $4.28 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%. The growth in the historic period can be attributed to urbanization trends, construction industry growth, preference for sustainable solutions, government regulations, cost-efficiency.
The steel roofing market size is expected to see steady growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to population growth, climate change concerns, renovation and remodeling trends, increasing disposable income, focus on energy efficiency, global economic growth. Major trends in the forecast period include integration of smart roofing technologies, focus on weather-resilient and extreme climate solutions, introduction of pre-painted and pre-coated steel roofing products, rise in popularity of modular and prefabricated steel roofing systems, collaborations for sustainable roofing solutions.
An increase in investments in the construction of residential buildings is expected to propel the growth of the steel roofing market going forward. A residential building refers to a building that is constructed for accommodation purposes and is used for normal residential purposes, with or without cooking or dining facilities. This construction includes one or more family dwellings, lodging, or rooming houses. Steel roofing material is used in the construction of residential buildings to cover the rooftops, and it lowers the cost of construction. For instance, according to Invest India, an India-based investment advisory, in the year 2021, foreign direct investment (FDI) in the construction development sector and construction activities stood at $26.16 billion. Infrastructure activities are contributing 13% share of the total Foreign Direct Investment (FDI) inflows, which is $81.12 billion. Therefore, an increase in investments in the construction of residential buildings is driving the growth of the steel roofing market.
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The steel roofing market covered in this report is segmented –
1) Steel Roofing Market By Type: Color Coated Roofing Sheets, Galvanized Sheets, Curving Sheets, Tile Roof Sheets, Other Types
2) Steel Roofing Market By Construction Type: New Construction, Renovation
3) Steel Roofing Market By End User: Residential, Commercial, Agricultural, Industrial
Top Major Players
Saint-Gobain SA
Nucor Corporation
Bridgestone Corporation
BlueScope Steel Limited
Kingspan Group PLC
Major companies in the steel roofing market are focused on developing revolutionary roofing sheets, such as cold-rolled sheets, for enhancing durability, and to gain a competitive edge in the market. Cold-rolled sheets are metal sheets processed at room temperature, resulting in improved surface finish, dimensional accuracy, and mechanical properties. For instance, in March 2021, Hulas Steel, a Nepal-based sheet manufacturer, launched Galvalume and Hulas DuraColour. These cold-rolled roofing sheets are coated with 55% aluminum, 43.5% zinc, and 1.5% silicon, offering superior corrosion resistance, tripling durability and strength compared to galvanized sheets. Utilizing Australian technology, the Hulas DuraColour variant offers colored options, further enhancing the lifespan of roofing sheets by three times.
The steel roofing market report table of contents includes:
1. Executive Summary
2. Steel Roofing Market Characteristics
3. Steel Roofing Market Trends And Strategies
4. Steel Roofing Market – Macro Economic Scenario
5. Global Steel Roofing Market Size and Growth
…..
32. Global Steel Roofing Market Competitive Benchmarking
33. Global Steel Roofing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Steel Roofing Market
35. Steel Roofing Market Future Outlook and Potential Analysis
36. Appendix
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