Latin America Roofing Market Report and Forecast 2023-2028
According to the report by Expert Market Research (EMR), the Latin America roofing market reached a value of USD 6.41 billion in 2022. Aided by the burgeoning construction sector and an increasing emphasis on sustainable and energy-efficient roofing solutions, the market is projected to further grow at a CAGR of 3.3% between 2023 and 2028 to reach a value of USD 7.84 billion by 2028.
Roofing, a vital aspect of construction, not only provides shelter from natural elements but also plays a pivotal role in determining the energy efficiency, aesthetics, and durability of a structure. With an array of materials such as asphalt, metals, clay, concrete, and green roofing options available, the Latin American market offers a diverse range of solutions to meet the varied needs of its booming construction sector.
The escalating urbanisation and the consequent need for housing and infrastructure in countries like Brazil, Mexico, Argentina, and Colombia drive the Latin America roofing market growth. Furthermore, the mounting awareness about green construction and the importance of energy efficiency is fostering a demand for sustainable roofing solutions that can reduce energy consumption, such as cool roofing and green or vegetative roofing systems.
The residential sector, in particular, is witnessing a marked shift towards metal and clay roofing, inspired by their long lifespan, durability, and the added aesthetic appeal they bring to homes. While traditionally popular in premium housing segments, these materials are now making their way into middle-class homes, fuelled by the rising income levels and the desire for longer-lasting and aesthetically appealing roofing solutions.
Industrial and commercial constructions are also pivotal growth areas impacting the Latin America roofing market outlook. As businesses become increasingly conscious of their carbon footprint, there's a pronounced trend towards the adoption of energy-efficient roofing solutions. This is evident in the rising popularity of cool roofing systems, which reflect more sunlight and absorb less heat, leading to significant energy savings.
In parallel, the green or living roofs, which involve the growth of vegetation on rooftops, are seeing traction, especially in urban areas. Beyond their aesthetic appeal, these roofs offer benefits like insulation, reduced heat islands, and stormwater management, making them a sought-after solution in commercial establishments.
Lastly, the increased adoption of eco-friendly materials and the rising trend towards the restoration of heritage structures in the region further contribute to the Latin America roofing market demand. With preservation efforts on the rise, there's a growing demand for roofing materials that align with the historical and aesthetic value of such structures yet offer modern-day functionality and durability.
The market can be divided based on type, roof shape, application, and country.
Market Breakup by Type
- Green Roof
- Wood Shingles
Market Breakup by Roof Shape
Market Breakup by Application
Market Breakup by Country
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America roofing market. Some of the major players explored in the report by Expert Market Research are as follows:
- Owens Corning
- Etex SA
- Atlas Roofing Corporation
- Dextra Group
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.