Steel Roofing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A steel roof refers to a type of roofing system that is made up of steel pieces or tiles. Steel roofing is particularly engineered to last longer than any other roofing material. The installation of the steel roofs offers aesthetics, energy efficiency, and durability, and prevents leaks. The steel roofs can be recycled.

Sizing and Forecast
The steel roofing market size has grown marginally in recent years. It will grow from $4.21 billion in 2023 to $4.28 billion in 2024 at a compound annual growth rate (CAGR) of 1.8%.  The growth in the historic period can be attributed to urbanization trends, construction industry growth, preference for sustainable solutions, government regulations, cost-efficiency.

The steel roofing market size is expected to see steady growth in the next few years. It will grow to $4.66 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%.  The growth in the forecast period can be attributed to population growth, climate change concerns, renovation and remodeling trends, increasing disposable income, focus on energy efficiency, global economic growth. Major trends in the forecast period include integration of smart roofing technologies, focus on weather-resilient and extreme climate solutions, introduction of pre-painted and pre-coated steel roofing products, rise in popularity of modular and prefabricated steel roofing systems, collaborations for sustainable roofing solutions.

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Segmentation & Regional Insights
The steel roofing market covered in this report is segmented –

1) By Type: Color Coated Roofing Sheets, Galvanized Sheets, Curving Sheets, Tile Roof Sheets, Other Types
2) By Construction Type: New Construction, Renovation
3) By End User: Residential, Commercial, Agricultural, Industrial

Western Europe was the largest region in the steel roofing market size in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the steel roofing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
An increase in investments in the construction of residential buildings is expected to propel the growth of the steel roofing market going forward. A residential building refers to a building that is constructed for accommodation purposes and is used for normal residential purposes, with or without cooking or dining facilities. This construction includes one or more family dwellings, lodging, or rooming houses. Steel roofing material is used in the construction of residential buildings to cover the rooftops, and it lowers the cost of construction. For instance, according to Invest India, an India-based investment advisory, in the year 2021, foreign direct investment (FDI) in the construction development sector and construction activities stood at $26.16 billion. Infrastructure activities are contributing 13% share of the total Foreign Direct Investment (FDI) inflows, which is $81.12 billion. Therefore, an increase in investments in the construction of residential buildings is driving the growth of the steel roofing market.

Key Industry Players
Major companies operating in the steel roofing market report are Saint-Gobain SA, Nucor Corporation, Bridgestone Corporation, BlueScope Steel Limited, Kingspan Group plc, Fletcher Building Limited, Carlisle Companies Inc., Cornerstone Building Brands Inc., Boral Limited, Lindab International AB, Chief Industries Inc., Metal Sales Manufacturing Corporation, McElroy Metal Inc., Drexel Metals Corporation, The OmniMax International Inc., Safal Group, Ideal Roofing Co Ltd., Interlock Roofing Ltd., Isopan S.p.A., Wella Corporation, ATAS International Inc., Tata Steel Europe Limited, Reed’s Metals Inc., Future Roof Inc., Jinhu Color Aluminum Group, Pruszynski Ltd., Balex Metal Sp. z o.o., Hangzhou Tianjing Building Materials Company, Singer-Ruser(HZ) Building Materials Tech. Co Ltd., Bjorkstrand Metal Roofing LLC, DECRA Roofing Systems Inc., Gerard Roofing Technologies, Hartman Roofing Inc.

The steel roofing market report table of contents includes:

1. Executive Summary
2. Steel Roofing Market Characteristics
3. Steel Roofing Market Trends And Strategies
4. Steel Roofing Market - Macro Economic Scenario
5. Global Steel Roofing Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix


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