Roofing Materials Market Size, Share & Trends Report

Roofing Materials Market Size, Share & Trends Analysis Report By Product (Asphalt Shingles, Concrete & Clay Tiles), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-1-68038-734-6
  • Number of Pages: 120
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the roofing materials market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for roofing materials market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of roofing materials market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Roofing Materials Market Categorization:

The roofing materials market was categorized into three segments, namely product (Asphalt Shingles, Concrete & Clay Tile Roofs, Metal Roofs, Plastic Roofs), application (Residential, Non-residential), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The roofing materials market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The roofing materials market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seven countries, namely, the U.S.; the UK.; Germany; France; China; Japan; and India.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Roofing materials market companies & financials:

The roofing materials market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • GAF  -  GAF, established in 1886, headquartered in New Jersey, U.S., is one of the major manufacturers of asphalt shingles in the U.S. The company is specialized in supplying and installing GAF roofing systems to commercial buildings, residential houses, and resorts. It offers a wide range of product portfolios under its broad categories, namely residential roofing systems, solar and other products, commercial roofing systems, and commercial solutions. These categories include products such as ridge cap shingles, cobra attic ventilation, lifetime shingles, starter strip shingles, roof deck protection, and leak barrier product categories. Each shingle variety provides different characteristics such as protection against leaks, hips, and ridges; reduces attic moisture and heat; protects from moisture infiltration; and several others. GAF is operating in roofing business for over 130 years and offers products to the Americas. The approximate net sales of the company are USD 3 billion and as of December 2021, the company had an employee base of over 3,700 personnel working across its 34 manufacturing facilities in 26 locations in the U.S. 

  • Atlas Roofing Corporation -  Atlas Roofing Corporation is a manufacturer of residential and commercial building materials. The company was founded in 1982 and is headquartered in Atlanta, U.S. It offers its products under Polyiso roof insulation, wall insulation, roof shingles, roof underlayments, and molded polystyrene. The company also offers coated products such as panels, boards, sheathing, backer, and paper products such as Glass Reinforced Facer (GRF), ribbons, slip sheets, and table pads. It has 33 manufacturing plants spread across the U.S. and sells its products globally. 

  • Owens Corning - Owens Corning was founded in 1938 and is headquartered in Toledo, U.S. The company is engaged in the development, manufacturing, and marketing of building materials and composite systems. It operates through three business segments, namely composites, insulation, and roofing. The company offers a broad range of quality products such as glass fibers used to reinforce composite materials for transportation, marine, electronics, infrastructure, wind energy, and insulation and roofing for residential, commercial, and industrial applications. As of December 2018, it had 27 facilities for the production of composites, 42 facilities for insulation, and 35 facilities for roofing materials in 33 countries. The company’s roofing segment offers laminates, strip asphalt roofing shingles, oxidized asphalt, along with several other synthetic packaging materials and roofing components for end-user application industries. It sells roofing components and shingles through home centers, lumberyards, distributors, retailers, and contractors across the globe. As of December 2020, the company had 19,000 employees working across the globe 

  • TAMKO Building Products LLC - TAMKO Building Products LLC was established in 1944 and is headquartered in Joplin, U.S. It is vertically integrated and is engaged in the manufacturing of a diversified range of products such as residential and commercial roofing products, waterproofing products, cement & coatings, composite decking, and railing systems. The company owns and operates raw material plants. It has around 11 manufacturing facilities spread across the U.S. The company manufactures and offers various roofing solutions within steel shingles and asphalt shingles. Moreover, it provides waterproofing solutions for balconies, breezeways, windows, doors, cavities, specialty underlayments, and thru-walls. The company provides its commercial and residential roofing products across the U.S. 

  • CSR Limited  -  CSR Limited is a building products manufacturer headquartered in North Ryde, Australia and was founded in 1855. The company’s operations are spread across Australia and New Zealand, and it operates through three business segments, namely building products, property, and aluminum. Through building products segment, it offers masonry & insulation products, interior systems, and construction systems. Through property segment, the company focuses on maximizing profits through its real estate. Aluminum segment represents 70% shareholding in Gove Aluminum Finance Limited and 25.2% interest in Tomago aluminum smelter in New South Wales, Australia. The company serves more than 18,000 customers across Australia and New Zealand through over 170 manufacturing and distribution sites. As of March 2021, it had 2,538 employees. 

  • Carlisle Companies Inc. -  Carlisle Companies Inc. is a manufacturer of building envelope products and energy efficient solutions. The company is headquartered in Scottsdale, U.S. and was founded in 1917. It operates through three business segments, namely Carlisle Construction Materials (CCM), Carlisle Interconnect Technologies, Carlisle Fluid Technologies. The company sold its fourth business Carlisle Brake & Friction to CentroMotion based in Wisconsin, U.S. in August 2021. Through CCM, it offers a wide range of products such as roofing, insulation, foam technologies, architectural metal, and water-proofing products. The company has 41 manufacturing facilities located in the U.S. and 7 in Europe. As of December 2021, CCM had 3,900 employees spread across North America and Europe. 

  • Crown Building Products LLC -  Crown Building Products LLC is a construction materials manufacturer headquartered in Mansfield, U.S. and was incorporated in 2011. The company offers a wide range of concrete and clay roofing solutions such as roof tiles, vents, hip & ridge attachment, closure, sealer, and oxide. It has 2 roof tile production plants along with 2 distribution yards in the U.S. The company also has a presence in the UK and Scotland through Russel Roof Tiles, which was acquired in 2011 in Mexico. 

  • Metal Sales Manufacturing Corporation -  Metal Sales Manufacturing Corporation, a privately owned subsidiary of Interlock Industries, was established in 1963 and is headquartered in Louisville, U.S. The company is engaged in manufacturing metal walls, roofing, and building systems. As of December 2021, it had production facilities in 21 locations in 17 states across the U.S. The company’s product portfolio includes diversified solutions for fascia, walls, roofs, soffits, perforated panels, liners, and insulated metal roofs & walls. Furthermore, these products are available in different materials such as aluminum, stainless steel, weathered steel, and copper. Metal building products offered by the company are widely used in various building sectors including institutional, commercial, agricultural, residential, and industrial markets. 

  • Wienerberger AG  -  Wienerberger AG was established in 1819 and is headquartered in Vienna, Austria. It is engaged in the supply of building materials and infrastructure solutions globally. The company is engaged in the manufacturing of facing bricks, roof tiles, clay blocks, ceramic & plastic pipes, concrete, and clay pavers. It is also engaged in developing cutting-edge technology for new builds, renovations, and infrastructure. The company’s clay roof tiles provide a plethora of design options for roofs and facades. They are used in new construction and for renovations and preservation of historical landmarks. It sells them under the brand name Koramic in Western Europe, Sandtoft in the UK, and Tondach in Central and Southern Europe. As of 2021, the company had 197 production sites and operations in around 29 countries and exports its products globally. Different companies such as Pipelife, Semmelrock, Steinzeug Keramo General Shale, Tondach Gleinstätten and the joint-venture Schlagmann are a part of the Wienerberger Group. It is a European market leader in clay roof tiles, concrete pavers in Central-Eastern Europe, and pipe systems. As of 2020, the company had 16,619 employees. 

  • Etex Group  -  Etex Group is a family-owned organization incorporated in 1905 with its headquarters in Zaventem, Belgium. The company specializes in the production and distribution of a wide array of building materials. It operates through four major business divisions including building performance, exteriors, residential roofing, and industry. Products such as dry construction solutions, fiber cement boards, plasterboards, plasters & formulated products, and passive fire protection products are offered through its building performance segment. Exterior’s segment provides various aesthetic fiber cement exterior solutions suitable for use in residential, agriculture, and architectural exteriors. Residential roofing segment offers an array of roofing components and concrete and clay tiles. Industry segment provides high-performance insulation materials and fire protection products for industrial and construction applications. The company markets its products under several brands, including Durlock, Gyplac, Kalsi, Siniat, Superboard, Cedral, Equitone, Eternit, Promat, among others. As of December 2020, it had an employee base of around 11,387 personnel with operations in 42 countries. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Roofing Materials Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Roofing Materials Market Report Assumptions:

  • The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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