Latest News- Roofing Market: Residential is expected to lead the Application segment during 2025-2029

The Roofing Market is being driven by High demand for bitumen coating

The Roofing Market is expected to grow at a CAGR of 2.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3810.1 million. The North American roofing market is witnessing a notable transition towards the adoption of recycled and eco-friendly roofing solutions. This shift is influenced by growing environmental concerns, regulatory requirements, and consumer preference for sustainable alternatives. Innovative recycling technologies have emerged, enabling manufacturers to transform waste materials such as asphalt shingles, rubber, and plastics into robust roofing products. For instance, GAF's RoofCycle initiative repurposes post-consumer waste to generate new shingles, aiming to divert one million tons of shingles from landfills by 2030. Malarkey Roofing Products is another industry player that integrates upcycled rubber and plastic into their shingles, contributing significantly to waste reduction efforts. This trend aligns with the broader construction industry objective to minimize waste and promote circular economy practices. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Residential
  • Non-residential
• Material
  • Asphalt shingles
  • Metal roofing
  • Clay and concrete
  • Tiles wood shingles and shakes
  • Synthetic roofing products
• Type
  • Flat roofs
  • Sloped roofs
• Geography
  • North America
    • Canada
    • Mexico
    • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High demand for bitumen coating
• Government initiatives aimed at infrastructure development
• Rising residential and commercial construction activities

However, the market also witnesses some limitations, which are as follows:

• Skilled labor shortage
• High fixed cost of roofing equipment and installation
• Challenges in urban and high-rise installations

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Market Scope in Roofing Market Research Report

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Research Analysis Overview

The roofing industry encompasses various types of roofing systems, including built-up roofing, modified bitumen, single-ply, spray polyurethane foam, and felt. Roofing components consist of gravel, drains, skylights, chimneys, vents, snow guards, and ice dams. Roofing challenges involve leaks, moisture, condensation, and ventilation systems. Insulation types, membrane varieties, and installation methods ensure performance and safety. Roofing contracts entail lifecycle costs, warranty terms, certifications, and software features for estimating and design.

Market Research Overview

The global building products market encompasses businesses producing a range of components, including metal roofing, asphalt roofing, tile roofing, slate roofing, flat roofing, green roofing, and roofing membranes. According to Technavio, the market size is determined by the consolidated revenue of manufacturers specializing in building and home improvement products and equipment. Factors driving the expansion of this market include the burgeoning construction sector, particularly in developed and emerging economies, where the demand for residential and healthcare infrastructure development is surging due to urbanization and public health concerns.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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