Global Roofing Tile Market - Segmented by Type, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)
The roofing tile market is expected to register a CAGR of approximately 7.15% during the forecasted period, 2018-2023. The market is driven by many factors, such as growing demand for clay roofing along with increasing refurbishment activities in developed nations. However, expensive raw materials and installations are restraining the growth of the market.
“Demand for Clay Roofing” is Driving the Market
Clay roofing is completely green and energy efficient, and exhibit excellent characteristics, including thermal mass, airflow, solar reflectance, and thermal remittance. With increasing government initiatives to encourage environmental friendly buildings or green buildings across the world, especially in the United States and Europe, and due to extreme temperatures in some parts of these areas, the demand for clay roofing is expected to increase in, both, North America and European regions.
‘Asia Pacific’ the Largest Market Share
Asia-Pacific is expected to have largest share in the market. With the growing urbanization, along with the increasing focus on the energy efficient buildings in the region, is expected to boost the demand for roofing tiles in the region. Additionally, growing construction activities in the region, especially in India, Vietnam, Indonesia, and China, both residential and commercial, is also expected to propel the market growth. Furthermore, in economies, like India, where majority of the population reside in rural areas, the demand for clay roofing is expected to increase, owing to consistent rise in population over the years. All the above-mentioned factors are expected to propel the market for roofing tiles in the region.
January 2018: Tesla began the production of solar roofing tiles in its Buffalo Factory with first roofs expected to go in a couple of months
April 2017: Standard Industries completed the acquisition of Braas Monie, in an aim to become largest manufacture in Europe with a diverse portfolio
Major Players: Standard Industries Inc, Etex, IKO Industries Inc, and Wienerberger AG amongst others.
Reason to Purchase this Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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