The Steel Roofing Market is projected to be worth USD 4.7 Billion by 2030, registering a CAGR of 6% during the forecast period (2022–2030), The market was valued at USD 2.8 billion in 2021. The steel roofing is made of metal or tiles. The lifespan of metal roofs is high. It is a durable and sustainable roof that can remain in good condition for many years. The installation of the metal roofs offer aesthetics, energy efficiency, and durability and prevents leaks. Due to these exceptional properties, steel roofing is gaining high demand. The metal roofs can be recycled. Also, it is an efficient roof that can reflect sunlight and heat.
Steel Roofing Industry is used in construction applications to provide strong, durable, and water-resistant roofing. Steel roofing is widely used in the residential sector, where the demand for strong roofing materials that are not affected by water is high. Steel roofing provides a tough, durable surface for roofing that can withstand most physical shocks and intrusions. The fire resistance of steel roofing is also a major driver for the global steel roofing market. Fire resistance is highly valued in residential construction, where protecting the inhabitants is a top priority. Due to the growing demand for safe and secure roofing components in the construction industry, the demand for steel roofing has grown over recent years. The growing government support to initiatives to make residential construction safer and more secure for the inhabitants is likely to remain a major driver for the global steel roofing market over the forecast period.
The growing construction industry is likely to be a major driver for the global steel roofing market over the forecast period. The construction industry has grown rapidly in recent years due to the growing urbanization in Asia Pacific, the Middle East, Africa, and Latin America. The growing urban population in countries such as India, China, South Korea, Brazil, Argentina, and South Africa has led to a growing demand for residential construction in these regions.
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Competitive Leaderboard:
Leading players in the global steel roofing market include McElroy Metal, Bilka, Chief Industries Inc., ATAS International Inc., Safal Group, EDCO Products, Ideal Roofing, Tata Steel Europe Ltd., Blachy Pruszynski, Fletcher Steel Ltd., Cornerstone Building Brands, Nucor Building Systems, Kingspan Group, Certainteed, and Fabral.
Segmentation:
The global steel roofing market is segmented on the basis of type, application, and region.
By type, the global steel roofing market is segmented into corrugated steel panels, steel shingles and shakes, stone-coated steel tiles, and standing seam. The corrugated steel panels segment accounts for the largest share in the global steel roofing market and is likely to remain the leading revenue generator over the forecast period. Corrugated steel panels are often used in residential construction applications, where the corrugated steel panels help drive rain away from the house. The slope produced by corrugated steel panels makes rain protection easier and simpler, making corrugated steel panels highly valued and desirable in the construction industry.
By application, the global steel roofing Market Share Analysis is segmented into residential and non-residential. These segments are further segmented into new construction and remodeling refurbishment.
Regional Analysis:
Asia Pacific dominates the global steel roofing market and is likely to remain a major revenue generator over the forecast period. The growing construction industry in Asia Pacific, driven by growing urbanization, is likely to remain a major driver for the global steel roofing market over the forecast period.
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