North America Roofing Materials Market Share, Revenue, Trends, Growth Drivers, Key Players, Challenges and Competitive Analysis till 2033


North America Roofing Materials Market Share, Revenue, Trends, Growth Drivers, Key Players, Challenges and Competitive Analysis till 2033: SPER Market Research

 Published: Mar-2024
 Author: SPER Analyst

North America Roofing Materials Market is projected to be worth USD 59.62 billion by 2033 and is anticipated to surge at a CAGR of 5.7%.

Roofing materials including bituminous, concrete, and clay tiles, as well as metals, elastomers, and plastics, cover the external surfaces of residential, commercial, and industrial buildings. Roofing materials provide several advantages to the structure, including temperature management, waterproofing, and aesthetic appeal. Because loans are easier to obtain, discretionary income is increasing, and costs are more affordable, homeowners are investing more in remodeling and refurbishment projects.

North America Roofing Materials Market Driving Factors and Challenges

Metal roofing's superior fire resistance will propel industry expansion. Given the rise in wildfire incidents, metal roofing is predicted to grow quickly. Many people have adopted metal roofing, which is a great fire-resistant roofing option, to fireproof their buildings and comply with current fire regulations. It comes in two varieties: panels and shingles, and it can be made from copper, aluminum, stainless steel, and zinc. Among these, aluminum and galvanized steel are the most widely used and affordable metals.

Increased Roofing Material Costs Will Restrain Market Expansion: Older roofs need a lot of money, time, and energy to be resurfaced. Climate can affect the quality of a product. For example, certain materials degrade easily in prolonged freeze-thaw cycles but cannot withstand high temperatures or UV exposure from the sun. Bituminous shingles can become weaker when built in subzero temperatures because they are inferior to other materials and are more likely to be lifted by the wind and break easily at varying temperatures. Metal roofing is typically more expensive initially than other materials.

Impact of COVID-19 on North America Roofing Materials Market
Supply Chain Interruptions Market development was hampered during the pandemic. 
Building supply chains were severely interrupted by the global pandemic and the lockdown measures implemented by many nations. A scarcity of skilled and unskilled laborers also caused significant losses for businesses. Furthermore, logistical issues resulting from the travel restrictions enforced during the lockdown made it difficult to get raw materials for manufacturing. Social distance norms set by various countries provided further challenges because roofing is a hands-on profession that requires intimate interaction between workers. Roofing contractors have to take additional safety precautions and follow COVID-19 rules to ensure the safety of their employees.

North America Roofing Materials Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Owens Corning, CertainTeed Corporation, Atlas Roofing Materials Corporation, Johns Manville, Braas Monier Building Group, IKO Industries Ltd, TAMKO Building Products LLC, GAF Materials Corporation, Carlisle Companies Inc, Others.

North America Roofing Materials Market Segmentation:

By Construction: Based on the Construction, North America Roofing Materials Market is segmented as; New Construction, Reroofing.

By Material: Based on the Material, North America Roofing Materials Market is segmented as; Bituminous, Concrete & Clay Tiles, Metal, Elastomer, Plastics.

By Application: Based on the Application, North America Roofing Materials Market is segmented as; Residential, Non-residential.

By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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