Steel Roofing Market Dynamics and Trends to Reach $17.5 Bn by 2032

The surge in population and urbanization serves as the primary catalyst for the increased demand in both residential and non-residential constructions, consequently propelling the steel roofing market forward.

Traditionally, metallic roofing, including steel roofing, offers two primary fastening methods: exposed fastened and concealed fastened steel roofing. Exposed fastened roofing showcases its fasteners visibly on the roof's surface, offering a cost-effective and easy installation option; however, it also presents a higher risk of water seepage.

In contrast, concealed fastened roofing minimizes the risk of leakage but comes at a higher price point. Consequently, due to the affordability of exposed fastened steel roofs, they accounted for a larger share of total revenue generated in 2020. Conversely, owing to the superior aesthetics of concealed fastened roofs, their growth is forecasted to achieve a higher Compound Annual Growth Rate (CAGR) during the projected period.

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Market Statics:
According to a new report published by Allied Market Research, titled, The steel roofing market size was valued at $10.7 billion in 2020, and is estimated to reach $17.5 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.

The market is also analyzed based on the distribution channels of steel roofs, which incorporate online and offline channels. In 2020, the offline segment contributed to the majority of the revenue generated via the steel roofing market.

Its excessive proportion is attributed to the fact that the builders can determine the quality such as robustness, resistance to weathering actions, and other such qualities of the roof before buying, and the lead time between order placement and receiving of the products is essentially zero. On the other hand, the provision of a wide variety of steel roof through online methods is expected to have a positive effect on the online section.

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Key Segments:

By Fastening Type -

Exposed Fastened
Concealed Fastened

By Distribution Channel -
Online
Offline

By End User -
Residential
Non-Residential

The report provides an extensive analysis of the current and emerging steel roofing market trends and dynamics.

Depending on the fastening type, the exposed fastened segment dominated the steel roofing market, in terms of revenue in 2020.

By distribution channel, the offline segment accounted for the highest market share in 2020.

By end user, the residential segment is anticipated to grow with a higher CAGR during the forecast period.
Asia-Pacific is projected to register the highest growth rate in the coming years.

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Top Players:
Cornerstone Building Brands Inc. (MBCI), Ideal Roofing, Lifetite Metal Product LLC, Metal Sales Manufacturing Corporation, Linyi Jinhu Color Coating Aluminum Industry Co., Ltd, Central States Mfg, ATAS International, Inc., Tata BlueScope Steel, Bansal Roofing Products, and Stellar Buildtech.

Market Outlook:
The market is particularly driven by the increase in the industrial and residential construction sector, recovery in the construction industry, and growth in spending on domestic building reworking and building preservation activities. However, fluctuations in raw materials costs constrain the boom of the marketplace. On the other hand, the growing demand for environmentally sustainable homes is predicted to offer profitable opportunities for the steel roofing market growth.

In 2020, Asia-Pacific dominated the steel roofing market, in terms of sales. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR, as a result of a boom in the construction of commercial establishments in the region.

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Roofing Market - https://www.alliedmarketresearch.com/roofing-market

Roofing Tiles Market - https://www.alliedmarketresearch.com/roofing-tiles-market-A07136

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