Global Roofing Tiles Market 2023

Description
The Global Roofing Tiles Market is projected to grow from USD 10.88 billion in 2022 to USD 13.99 billion by 2029, with a CAGR of 3.7% during the forecast period of 2023-2029. Roofing tiles are widely used in residential, commercial, and industrial settings, offering economic benefits, durability, lightweight characteristics, and aesthetic appeal. The market faced challenges due to the COVID-19 pandemic, but experienced growth in 2022. The market is expected to further grow in the next five to ten years, driven by increased construction activities in the Asia-Pacific region and government initiatives promoting green buildings. Fluctuating raw material prices, high costs, and installation expenses may hinder market growth. Opportunities arise with the development of solar roof tiles, aligning with the global focus on renewable energy and sustainability. The Asia-Pacific region holds the largest market share, driven by robust construction growth in countries like India, China, the Philippines, and Indonesia.

Market Segmentation
The market is segmented based on type, construction type, end user, and geography.

Type: clay tiles, concrete tiles, others
Construction type: new construction, renovation and replacement
End user: non-residential, residential
Geography: North America (United States, Canada, Mexico), Europe (United Kingdom, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East and Africa (Saudi Arabia, South Africa, and Rest of Middle East and Africa)

Concrete roof tiles are popular for residential roofing due to their low-maintenance nature. Made from sand, water, and Portland cement, they come in various shapes and textures. Roof tiles protect homes from harsh weather conditions and reduce heat transfer by approximately 70%. They are suitable for different types of residential properties, including single-family houses, townhomes, condos, and apartments. The demand for roofing tiles is influenced by the growth of residential properties in emerging nations like China, India, Brazil, and Argentina. Investments in residential and commercial construction, such as in India, China, the Philippines, Vietnam, and Indonesia, will drive the market. Government initiatives, like China's five-year plan and India's Smart Cities project, will further boost the construction industry.

Competitive Landscape
The roofing tile market is fragmented, with various key players. Companies profiled in this report include Boral Limited, Burlingame Industries, Inc. (Eagle Roofing Products Florida LLC), Crown Building Products, LLC, EcoStar LLC, Fornace Laterizi Vardanega Isidoro S.R.L., Ludowici Roof Tile, LLC, Marley Ltd., MCA Clay Roof Tile, Inc., Standard Industries Inc. (BMI Group), Terreal Malaysia Sdn Bhd, Verea Clay Tile, VHR Roof Tile Manufacturing Co., LLC, Vortex Hydra S.r.l., Wienerberger AG, among others.

Recent Industry Developments
Wienerberger AG announced its intention to acquire Terral's business operations in France, Italy, Germany, Spain, and the United States for USD 650 million, facilitating expansion in the European roofing solutions market. The acquisition is expected to be completed in 2023.

In February 2022, Eagle Roofing Products plans to increase manufacturing capacity and introduce new colors in the Western United States and Western Canada to meet growing market demand.

Scope of the Report
To analyze and forecast the market size of the global roofing tiles market.
To classify and forecast the global roofing tiles market based on type, construction type, end user, geography.
To identify drivers and challenges for the global roofing tiles market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global roofing tiles market.
To identify and analyze the profile of leading players operating in the global roofing tiles market.

Why Choose This Report
Gain a reliable outlook of the global roofing tiles market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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