World demand for roofing materials is forecast to grow 3.8 percent annually through 2016 to 11.7 billion square meters, a substantial acceleration from the lethargic performance of the market during the 2006-2011 period. Gains in demand will be fueled by a major uptick in residential building construction activity as construction industries in major developed nations, such as the US, rebound from their recent weakness. Further growth will be supported by continued gains in developing markets, particularly in Asia. These and other trends, including market share and product segmentation, are presented in World Roofing, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
Two countries, the US and China, will jointly account for nearly 60 percent of global gains in roofing demand in square meters through 2016. China, the world’s largest market for roofing products in 2011, will continue its trend of strong growth and account for more than 30 percent of world market gains. The US, which experienced a collapse in new housing construction beginning in 2006, will rebound significantly, but in 2016 the US roofing market will still be slightly below 2006 levels. Strong growth is also expected in a number of smaller roofing markets, including those in India, Indonesia, and South Africa. Although some developed countries will see fast, rebound-fueled growth similar to the US, market gains will typically be slower than in developing areas. Western Europe will be the slowest growing regional roofing market through 2016.
The mix of roofing materials used tends to vary from country to country, but bituminous and tile (clay and concrete) products dominated the global market in 2011, together accounting for 70 percent of demand in area terms. Bituminous products will post the fastest growth through 2016, primarily due to the heavy usage of asphalt shingles in the rebounding US market. The US, which uses shingles far more intensively than most other nations, will account for almost 80 percent of worldwide growth in demand for these products, thanks to a major recovery in new single-family housing construction. Demand for concrete roofing tiles will also show strong growth, particularly in the developing Asia/Pacific region, where concrete tiles account for the largest share of roofing demand.
The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.