The North America roofing market size was valued at $25,684.5 million in 2021, and is projected to reach $41,242.6 million by 2031, registering a CAGR of 4.9% from 2022 to 2031.
A roof is the top covering of a building structure which includes all various materials to support it on the upright or on wall providing protection from heat, rain, and other atmospheric conditions. It is a part of building envelop. Bitumen, ceramic coated granules, clay, sand, fiberglass, concrete, and polycarbonate are used for the construction of roofs in residential and commercial buildings, such as offices, hotels, and educational institutes.
Rise in construction industry, rapid urbanization, and innovations in technology in North America are the key factors that drive the growth of the roofing market. In addition, technological innovations such as green roofing, eco-friendly roofing materials, and drones for roof inspections have increased the demand for roofing products. However, high installation cost of roofing systems is expected to hamper the North America Roofing Market growth.
Major players in this market focus on designing efficient roofing systems to ensure long-term performance even in the harshest weather conditions. Such factor offers lucrative opportunities for the market growth during the forecast period. For instance, in march 2020, Standard Industries, U.S. based company has launched roof integrated solar product, Solaria panels which are 16% more powerful than standard solar integrated roof and also allow homeowners to fit more roof-integrated solar capacity in a similar amount of space. Similarly, Johns Manville has launched wide range of high-performance commercial roofing products which has the lowest fastening rates in the market for a HD polyiso cover board up to 50% fewer fasteners are needed to achieve FM I-90.
By Type
6mm segment is projected to grow at a highest CAGR
The rise in the number of non-residential projects in the countries such as U.S. and Canada, is expected to increase the demand for roofing in the North America region during the forecast period. Energy efficient roofing systems are available in the market owing to the introduction of new roofing technologies. New technologies, such as green roofing, increase roof life and safety, improve air quality, and reduce noise and cost of air-conditioning. Introduction of advanced technologies results in aesthetics improvement, which is expected to strengthen the roofing market in the future.
In addition, government of countries such as U.S. and Canada and others have invested heavily in infrastructure development, which also fuels the growth of the market.
By Material Type
Membrane segment holds dominant position in 2021
By type, shingle roofing has registered highest revenue in the North America Roofing Market share in 2021. Shingle roofing are affordable and are easy to install. Shingles roofing when installed correctly and properly maintained they can last for about 25-30 years. The shingles are also really easy to tear down, repair or replace if need be.
By application, residential segment has dominated the market in 2021 and is expected to witness the highest growth due to popularity of eco-friendly roofing technologies and increased investments in the real-estate sector. Moreover, rising home construction and remodeling is providing lucrative growth in the North America Roofing Market.
By Roof Type
Flat roof segment holds dominant position in 2021
By material, membrane segment has dominated the market in 2021. Membrane roofing is used to protect the building below from the weather and water. Their primary function is to prevent water from entering the building. Roofing membranes also offer better insulation than most other types of roofing. These roofing are energy efficient and uses less space under roof for heating and cooling.
The market is classified on the basis of type, material type, roof type, and application. By type the market is divided into shingle roofing, tile roofing, engineered solution roofing, paneled roofing and structural concrete roofing. By material type, the market is divided into metal, wood, clay & slate, asphalt, concrete and membrane. By roof type, the market is bifurcated into flat roof and slope roof. By application, the market is classified into residential, commercial, and industrial. Region wise, the market analysis is conducted across North America (the U.S. and Canada).
By Roof Type
Flat roof segment holds dominant position in 2021
Competition Analysis
The key market players profiled in the North America roofing market report include Atlas Roofing Corporation, Beacon Roofing SupplyInc., Berkshire Hathaway Inc (Johns Manville), Carlisle Companies Incorporated, Compagine DeSaint-Gobain S.A., Firestone Building Products, Iko Industries, Owens Corning, Seaman Corporation and Sika AG.
By Country
U.S. holds a dominant position in 2021 and is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging North America roofing market trends and dynamics.
- In-depth north america roofing market analysis is conducted by constructing estimations for the key segments between 2021 and 2031.
- Extensive analysis of the North America roofing market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The North America roofing market forecast from 2022 to 2031 is included in the report.
- The key market players operating in the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the north america roofing industry.
North America Roofing Market Report Highlights
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 By ROOF TYPE |
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Analyst Review
The utilization of roofing systems is on a rise owing to increase in focus on energy efficient construction, and the ever-increasing demographic shift toward urbanization. The consumption of roofing market is highest in the U.S., due to rise in residential, commercial and industrial investments. Market players have focused on designing advanced roofing system, which ensures high durability and long-term performance. For instance, in March 2021, Atlas Roofing, has launched StormMaster Hip and Ridged roofing with core4 which allows the roof to provide extra strength, flexibility, durability and extreme weather resistance. They have focused on delivering reliable and customer-driven solutions for a wide range of applications such as residential, commercial, and other constructions.
Furthermore, key players are implementing various strategies such as business expansion, acquisition, collaboration and partnerships to strengthen its market position and to improve its product portfolio. For instance, in August 2020, Sika AG has acquired Modern Waterproofing Group which is the leading manufacturer of roofing and waterproofing system in Egypt. Such strategic moves are expected to drive the North America roofing market.
The North America roofing market material type was valued at $25,684.5 million in 2021.
Based on type, the Shingle roofing holds the maximum market share of the North America Roofing Market in 2021.
The North America Roofing Market is projected to reach $41,242.6 million by 2031.
Growth in construction sector and manufacturing sector are the key trends in the North America Roofing Market.
The product launch is key growth strategy of bolt industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Fluctuating cost of raw materials is the effecting factor for North America Roofing Market.
The end user of bolts includes residential and commercial and others.
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