The global market for roofing tiles was strong in 2020 and is expected to maintain a steady revenue growth rate over the forecast period. Roofing tiles, made from materials such as concrete and clay, are used for covering building roofs. The market is driven by increasing residential construction and consumer spending on home improvement activities. Factors restricting growth include high installation costs and the need for specialized labor, while opportunities for market players include the increasing popularity of solar roof tiles and technical advancements in tile manufacturing. In terms of material type, concrete roofing tiles are the most commonly used, while the residential sector is the largest end-user segment. North America leads in revenue growth, with the United States being the main driver, while Asia Pacific has the largest revenue share, driven by China, South Korea, Japan, and India. Major companies in the market include Boral Limited and Crown Roof Tiles.
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Roofing Tiles Market: Drive Factors
The global roofing tiles market is expected to grow steadily over the forecast period, driven by increasing construction of residential buildings and rising consumer expenditure on house remodeling and improvement activities. Other major factors driving growth in the roofing tiles market include the expansion of urbanization in emerging nations, favorable government initiatives for green construction, and the growing middle-class population with their rising disposable income, which has led to an increase in the usage of roofing tiles.
Furthermore, the use of roofing tiles for residential applications can reduce overall heat transmission into the attic space by over 70%, making them a cost-effective option with an extended lifespan. The increasing demand for new residential building projects is stimulated by growing urbanization, which propels the roofing tiles market even higher. Additionally, the rising popularity of solar roof tiles and technical advancements in tile manufacturing are projected to present profitable development opportunities for roofing tile market participants.
Despite these driving factors, the roofing tiles market growth is hampered by unfavorable factors such as high installation costs and the need for trained workers. Roofing tile installation requires specialized labor, which pays well, and tiles, no matter how sturdy or weather-resistant they are, can still crack or shatter as a result of impact damage. The cost of constructing a roofing system is also substantial, and roofing tiles such as terracotta roof tiles, pantile roof tiles, and slate roof tiles have high upfront prices, although they have low long-term expenses. These factors are projected to stifle the roofing tiles market expansion during the forecast period.
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