The market for roofing tiles is expected to register a CAGR of more than 6.5%, during the forecast period. Major factors driving the market studied are increasing demand from the construction sector in Asia-Pacific, and growing favorable government policies for green buildings. On the flipside, the high cost of raw materials is expected to hinder the growth of the market studied.
- Concrete roofing tiles segment dominated the market and is expected to grow further during the forecast period, with robust growth of construction activities across the world.
- The development of solar roof tiles is likely to provide opportunities for the studied market, during the forecast period.
- The Asia-Pacific region dominated the roofing tiles market across the world, with robust growth in construction activities in countries, such as India, China, the Philippines, and Indonesia.
Key Market Trends
Residential Construction to Witness Noticeable Growth
- The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby increasing the use of roofing tiles during the forecast period.
- The usage of roofing tiles for residential applications can reduce the overall heat transfer into the attic space by almost 70%, as compared to an asphalt shingle roof. Roofing tiles are available for various types of residences, including single-family homes, townhomes, condominiums, and apartment buildings. The installation of roofing tiles in residential applications is one of the most cost-effective choices, due to their long lifespan
- Despite the higher demand, there is still a significant undersupply to meet the demand for housing, globally, presenting a major opportunity for investors and developers to embrace alternative methods of construction and new partnerships, to bring forward development. Working in full compliance with all relevant building standards and regulations, the companies servicing roofing tiles are providing robust housing models to the consumers.
- The highest growth is expected to be registered in the Asia-Pacific, North America region, due to the expanding housing construction market in China, India, United States, etc.
- The United States dominated the North America region with a rapidly growing rate of residential construction. According to US Censor Bureau, in 2018, residential construction increased by about 2.5 % from the previous year.
- Asia-Pacific has the largest low-cost housing construction segment, which is led by China, India, and various Southeast Asian countries. In India, the government initiated the project ‘Housing for All by 2022’, which is expected to immensely drive the residential construction segment in the country.
- In South America, Brazil is suffering a volatile economy, which has reduced activities in the residential construction industry. However, the Brazilian housebuilder, MRV, has predicted a growth, despite the recession.
- All the aforementioned factors are expected to increase the market for roofing tiles, during the forecast period.
The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the roofing tiles market. With growing investments in the residential and commercial construction in countries, such as India, China, the Philippines, Vietnam, and Indonesia, the market for roofing tiles is expected to increase in the coming years.
- Currently, China has numerous airport construction projects, which are either in development or planning stage. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Additionally, the government rolled out massive construction plans for the movement of 250 million people to its new megacities, over the next 10 years.
- In India, the government’s investment target of USD 120.5 billion for developing 27 industrial clusters is expected to boost commercial construction in the country.
- The Indonesian government planned to invest about USD 450 billion in the construction sector, by 2021, which is expected to drive residential construction in the country.
- Hence, such investments and planned projects in various countries are driving the construction activities in the region.
The roofing tiles market is fragmented in nature. Some of the major players include BMI Group, Etex, IKO, Wienerberger, and Crown Roof Tiles, among others.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand from the Construction Sector in Asia-Pacific
4.1.2 Growing Favorable Government Policies for Green Buildings
4.2.1 High Cost of Raw Materials
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulatory Policies
5 MARKET SEGMENTATION
5.1.3 Other Types
5.2 End-user Industry
220.127.116.11 South Korea
18.104.22.168 ASEAN Countries
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Atlas Roofing Corporation
6.4.2 Boral Limited
6.4.3 Brava Roof Tile
6.4.4 Crown Roof Tiles
6.4.5 Eagle Roofing
6.4.6 Ecostar LLC
6.4.7 Entegra Roof Tile
6.4.9 Hongbo Roof Tiles
6.4.10 IKO Industries Ltd
6.4.11 Ludowici Roof Tiles
6.4.12 Marley Eternit Limited
6.4.13 Mca Clay Roof Tile
6.4.14 Monier (BMI Group)
6.4.15 Red Land Tiles
6.4.16 Ross Roof Group
6.4.17 Shandong Fangxing Roofing
6.4.18 Standard Industries Inc.
6.4.19 Trevis Perkins
6.4.20 Wienerberger AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Solar Roof Tiles
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.