APAC Roofing Material Market size is poised to cross USD 62 billion by 2027, according to a latest forecast report by Graphical Research. Considerable consumption of roofing materials and an increasing requirement for the maintenance & repair of installed elevators in the region will fuel industry expansion. The regional demand for infrastructure development is rising at an expected & significant growth rate. In addition, increase in government involvement for improving residential & commercial infrastructure constructions will further increase the market growth.
The roofing market is primarily driven by the region's rapidly expanding residential & non-residential construction activities. The trends of renovation & refurbishment and rising inclination toward aesthetic appeal in developing regions are the divers of the Asia Pacific roofing materials market throughout the evaluation period.
One of the major contributors to the entire market is the residential construction segment. The growing population in developing nations along with an increase in multi-family residential units, particularly in Asia Pacific, is expected to generate significant market opportunities over the forecast period. In Asia Pacific, China and India are the two major contributors to the region’s economic growth. According to the India Brand Equity Foundation, India's housing sector generated over 5% of the country's overall GDP. India's housing sector expanded at a rate of 11.2% between 2008-2020.
Metal roofing materials are expected to generate around 13 billion in revenue by 2027. Metal roofing is gaining momentum owing to its several advantages such as high strength, longer life expectance, environmental-friendly nature, and improved aesthetics of the structure. The use of higher recycled metals in new products along with the 100% recyclability of metal roofing products minimizes landfill wastes, thereby supporting market sustainability.
Browse detailed statistical insights from the report, “Asia Pacific Roofing Materials Market Forecast 2027 By Application (Residential, Non-residential), By Material (Bituminous, Concrete & Clay Tiles, Metal, Elastomer, Plastics), By Type of Construction (New Construction, Reroofing), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The industrial, commercial, educational, health, and other structures are examples of non-residential development. Non-residential buildings are growing in response to rising economic activities in Asia Pacific as well as around the globe along with the global need for smart cities. By 2027, the non-residential materials market is anticipated to grow at a rapid pace and is expected to generate a revenue of nearly USD 25 billion at a CAGR of 4.6%.
Among the application segments, reroofing segment is expected to generate around USD 14.5 billion revenue by 2027. Increased investments in renovations in both commercial & residential infrastructure will contribute significantly to the segment growth.
Japan is expected to generate over USD 10 billion in revenues at a CAGR of around 4.3% by 2027. Increasing demand for commercial spaces, housing estates, among others is expected to boost the regional infrastructure industry. In addition, construction is expected to be one of the region's fastest-growing industries, further driving the regional roofing market growth.
The roofing materials in APAC market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Material
- Concrete & clay tile
Asia Pacific Market, By Type of Construction
- New construction
Asia Pacific Market, By Type Application
The above information has been provided for the following countries:
- Asia Pacific
- South Korea