The global roofing tiles market was valued at USD 31.96 billion in 2022. It is projected to reach USD 49.58 billion by 2031, growing at a CAGR of 5% during the forecast period (2023-2031). Tiles on the roof protect it from the elements, including precipitation, hail, temperature, and wind. The primary function of roofing tiles is to repel water and prevent leaks. Terracotta and slate are two examples of locally sourced materials commonly used in construction. Roof tiles are becoming increasingly popular for several reasons, the most important of which are the material's longevity, elegance, and resilience. Clay roof tiles, concrete roof tiles, metal roof tiles, solar roof tiles, plastic roof tiles, and other roof tiles are among the many types. Since they are durable, fire resistant, and have other advantages, roof tiles are frequently used in residential buildings.
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Improvement in the Building Industry
The construction sector's growth is expected to drive the roofing tiles market over the forecast period. The government's goal to finish several infrastructure projects will likely lead to growth in the construction sector throughout Asia-Pacific and LAMEA. These initiatives involve establishing regional airports, businesses, homes, and other structures. For instance, the Inter-American Development Bank (IDB) and the South Korean government worked together in October 2019 to spend over USD 1.30 billion on Latin American smart city initiatives.
The construction sector is predicted to restart its rising trend in most emerging countries in 2021 after enduring a period of sluggishness brought on by low consumer confidence and a lack of investment over the past few years. This has led to a recovery in the construction industry, particularly in Brazil, Colombia, and Peru, which is likely to fuel market expansion. The recovery in regional governments' public investment and reforms in initiatives connected to significant residential infrastructure projects are the main drivers of the expansion of the construction sector in China and India.
Economic Uncertainty in the Eurozone
Europe is one of the more established areas for the roofing industry. Over the past few years, most European nations' economies and consumer spending remained unstable. Brexit-related geopolitical uncertainty and U.S. economic policy are predicted to stifle economic growth in the coming year. Due to sluggish international trade and political unpredictability, regional investments are predicted to remain subdued. In addition, consumer wages have remained unchanged for more than five years in several markets. The lower after-tax incomes, particularly for the middle class, youth, and families, are anticipated to boost the economies of the Eastern European region. The market growth for roofing tiles is constrained by Europe's low investment in new residential buildings.
The demand for roofing tiles has expanded due to technological developments made by manufacturers, including green roofing, energy-efficient roofing, solar roofing tiles, eco-friendly roofing materials, and drones for roof inspections. Green and environmentally friendly roofs respond to the increase in air pollution, decline in biodiversity, and urban heat islands, which in turn lessen environmental degradation.
Furthermore, after introducing drone technology for checking roofs, demand increased significantly because there is no longer any need for a physical examination. For instance, the Solar Roof Tile V3 was introduced by the American clean energy company Tesla, Inc. in October 2019. Solar roof tiles' main benefit is that they serve as an alternative to traditional solar panels. Additionally, because there is no space between the solar roof tiles and the roof, there is no need for routine cleaning because nothing can get stuck in the system.
The global roofing tiles market is segmented by material type, construction type, and end-user industry.
Based on material type, the global roofing tiles market is bifurcated into clay roof tile, concrete roof tile, and others.
The concrete roof tile segment is the highest contributor to the market and is expected to grow at a CAGR of 6.10% during the forecast period. Concrete roof tiles are highly durable and have an average lifespan of 40 to 60 years, making them a good choice for nations with a wide range of climatic conditions like Egypt, South Africa, Ghana, Malta, India, Bangladesh, Iraq, and Iran. In addition, concrete roof tile producers follow ASTM C1492 when creating concrete roof tiles, ensuring their durability and sturdiness. As a result, it is a well-liked option in the U.S. and the U.K., where strict adherence to construction safety requirements is required.
Clay roof tiles are chosen in the construction of green buildings because of their physical qualities, such as low thermal mass, high airflow, high solar reflectance, and high thermal remittance. It is also employed to improve a building's aesthetic appeal. For instance, clay roof tiles are frequently utilized throughout coastal areas in California, United States, where Spanish culture strongly influences the local communities. Due to their eco-friendliness and superior heat regulation capabilities, clay roof tiles are becoming increasingly popular in Latin American nations like Brazil, Trinidad, and others.
Based on construction type, the global roofing tiles market is bifurcated into new construction and renovation and replacement.
The new construction segment owns the highest market share and is expected to grow at a CAGR of 6.10% during the forecast period. One key element fueling the expansion of the new building is the rising demand for roofing tiles. Furthermore, growing migration to Europe drives the need for new construction. Roofing tiles are anticipated to benefit from all recent improvements in the construction sector. Additionally, the growth of the real estate industry in North America and Europe is a significant factor.
Restoration of the existing structure is referred to as renovation and replacement. In order to improve the appearance of the building, old homes and buildings must have their roof tiles replaced. Many businesses implement tactics to grow their customer base and production capacity to survive the fierce competition and enhance their product offerings. For instance, in May 2018, Eagle Roofing introduced Rake Seal, a roofing accessory that blocks the weather. This rake seal allows flat tile installations to have a more contemporary appearance by doing away with the requirement for rake trim tiles.
Based on the end-user industry, the global roofing tiles market is bifurcated into residential and non-residential.
The residential segment owns the highest market share and is expected to grow at a CAGR of 5.95% during the forecast period. Mobile homes, multi-family housing, single-family housing, and other residential end-users are examples of residential users. In domestic structures such as domestic dwellings, single-family homes, and multi-family homes, roofing tiles are widely utilized because they shield against rain, heat, cold, hail, snow, and noise while keeping the home cool. Additionally, roofing tiles are employed to improve the building's aesthetic appeal. Residential constructions typically use clay and concrete tiles. The focus on new product development by several roofing tile producers helps the market players in the nation to flourish.
Since many developers, contractors, and businesses have invested in or plan to invest in plants for the construction of commercial buildings, the market is growing as a result of the increased usage of roofing tiles in commercial buildings. Concrete roofing tiles are in high demand due to the competence that many construction firms have gained in project management and design. Due to government initiatives like Make in India and other market-growing reforms, the commercial real estate sector has experienced significant expansion. In addition, many businesses are expanding their operations to broaden their sources of supply and boost output.
The global roofing tiles market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific Dominates the Global Market
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Asia-Pacific is the most significant global roofing tiles market shareholder and is expected to grow at a CAGR of 6.3% during the forecast period. Asia-Pacific is currently the world's largest market for roofing tiles due to the region's general economic growth and the highest adoption of flat refurbishment and replacement products in countries like China, Japan, and India. Increases in industrialization, urbanization, and different infrastructure projects primarily drive growth in the market. Additionally, the market expands due to population growth and commercial and residential infrastructure development. For instance, the West Bengal government and Singapore-based InfraCo Asia Development Pte. Ltd. signed a JIDA (Joint Investment and Development Agreement) in December 2018 to create 1,300 housing units for lower-income Durgapur people.
Europe is expected to grow at a CAGR of 4.80% during the forecast period. The roofing tile market in Europe is established, and moderate expansion is predicted throughout the projection period. Construction is a significant industry in Europe and a significant source of wealth. European exports and bank lending fell before the global recession, but the continent's credit crisis exacerbated it. Construction enterprises experienced financial difficulties due to the economic and financial crisis, with some declaring bankruptcy. The market for roofing tiles is anticipated to benefit from the building industry's gradual post-recession recovery in Europe.
North America is expected to grow significantly over the forecast period. Roofing tiles are becoming more common in the United States due to increased residential home development activity. For instance, a joint report from the U.S. Census Bureau and the U.S. Department of Housing & Urban Development indicated that the number of building permits for privately owned housing units grew by 9.4% in July 2020 compared to July 2019. Additionally, there is an increase in demand for office space as brand-new start-ups grow rapidly. For instance, the floor space of commercial buildings is anticipated to increase at a CAGR of 36% from 2018 to 2050, according to the U.S. Energy Information Administration's (EIA) "Annual Energy Outlook 2019" report. These elements are anticipated to fuel the market for roofing tiles in the United States over the forecast period.
Although LAMEA only accounts for a minor portion of the global roofing tile market, its share is expected to increase over the following years, primarily due to the expanding economies in Latin America and Africa. One of the region's biggest markets for roofing tiles is Brazil. Due to a surge in forthcoming residential, infrastructure, and commercial developments, the Middle East is experiencing a construction boom. In addition, the demand for concrete and metal roofing tiles is anticipated to rise due to this cause.
The global roofing tiles market's major key players are Boral Limited, Crown Roof Tiles, Dachziegelwerke, Eagle Roofing, Ecostar LLC, Ludowici Roof Tile, Marley Ltd, MCA Clay Roof Tile, Shital Potteries, and Terreal Malaysia Sdn Bhd.