Market Highlights
The Global Roofing Tiles Market is expected to witness sustainable growth during the forecast period owing to the growth of the construction industry and the rising consumers’ awareness of the benefits of clay roof tiles. Roofing tiles are eco-friendly, attractive, strong, and energy-efficient. Thus, homeowners and roofing contractors are inclined toward the installation of such roofing in any structure and building. Also, these are fire-resistant and does not crack or shrink with the effects of humidity, sunlight, or other weather condition. Such benefits make customers use roofing tiles in their buildings.
On the basis of region, the global roofing tiles market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific accounted for the largest market share, followed by North America, and Europe, which is expected to have the highest growth rate during the forecast period. This can be attributed to the growth of the building & construction industry, mainly in emerging economies such as China and India. The rise in the number of construction projects in the Asia-Pacific region, has further enhanced the market growth.
Furthermore, North America has witnessed sustainable growth in the construction industry, owing to the increased renovation projects in the region. According to the US Census Bureau, the total annual value of construction in the US was USD 1,293,982 million in 2018, USD 747,809 million of which was for non-residential construction. The high growth in the construction industry in North America, drives the growth of the roofing tiles market in North America during the forecast period.
The Global Roofing Tiles Market was valued at USD 27.4 Billion in 2018 and is expected to witness 4.2% CAGR during the forecast period.
On the basis of type, the global market has been segmented as clay, concrete, metal, and others. The clay segment accounted for the largest market share in the global market. These flooring tiles are eco-friendly and energy-efficient and provide various advantages during installations.
On the basis of application, the global roofing tiles market is segmented as residential, commercial, infrastructural, and industrial. The residential segment is expected to witness the fastest growth rate during the forecast period.
Scope of the Report
This study provides an overview of the global roofing tiles market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, Middle East & Africa and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global roofing tiles market by type, application, and region.