Global Steel Roofing Market Expected to Reach USD 11,079.0 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Steel Roofing Market by Product Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 7,644.5 Million in 2019 and has been expected to grow at a healthy CAGR of 4.8% during the forecast period. The global steel roofing market has been anticipated to grow owing to its resistance ability towards mildew, insects, heat, snow, and rot, and thus need low maintenance. Furthermore, its availability in wide range of patterns, colors, and textures are other factors which has been expected to drive the growth of the global steel roofing market.

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The global steel roofing market is fragmented based on product types, applications, and regions. In terms of product types, the market is segmented into corrugated steel panels, steel shingles and shakes, stone-coated steel tiles, and standing seam. On the basis of applications, the market is divided into commercial, industrial, and residential. Based on regions, the global steel roofing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S. and Canada. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into, China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific (APAC). Latin America region is further segmented into Brazil, Mexico, Rest of Latin America (LATAM). The MEA region is further divided into Saudi Arabia, South Africa, UAE, Rest of Middle East & Africa (MEA).

In year 2020, the steel roofing market has been expected to witness the sluggish growth owing to the COVID-19 pandemic. The outbreak has resulted in shutdown of various manufacturing business which are considered to be non-essential. This has resulted in the reduced production of steel roofing. Furthermore, the pandemic has put a halt to the construction business on a temporary basis which is extensively restraining the growth of the global steel roofing market.

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As per GMR industry analyst Rajat Verma, “The Global Steel Roofing Market is anticipated to witness significant growth during forecast period 2021-2027 driven by increasing industrialization and urbanization activities in several developing nations such as China, India, and Malaysia. The rising investment towards smart infrastructure is expected to further increase the market growth. However, the volatility in the prices of steel may restrain the market during the forecast period.”

Key Takeaways from the Study:

• CertainTeed, a Canada based company, held approximately one fifth of market share of global steel roofing market in year 2019.
• Asia pacific accounts for a major share of the market, followed by North America. The market in Asia Pacific is projected to expand at significant CAGR during the forecast period.
• The steel shingles and shakes segment is anticipated to expand at a substantial CAGR during the forecast period owing to its high durability.
• The Industrial segment is anticipated to expand at a significant CAGR during the forecast period. Several ongoing construction projects in many developing countries in the Asia Pacific region is resulting in the growth of the segment.

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Report Scope:

Target Audience:

• Supply-side: Steel manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Building constructors for commercial, industrial, and residential applications.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: American Society for Testing and Materials (ASTM), European Standard (ES), International Organization for Standardization (ISO), Ministry of Health, Labor and Welfare (MHLW), World Trade Organization (WTO), Occupational, Safety and Health Administration (OSHA), and American National Standards Institute (ANSI)

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