Stone Coated Steel Roofing Market - Forecast(2023 - 2028)

Overview

Stone Coated Steel Roofing Market size is forecast to reach $XX billion by 2025, after growing at a CAGR of 7.8% during 2020-2025. Growing residential and commercial industries is increasing demand for usage of stone coated steel roofing across developed countries. The significant rise in remodeling and renovation projects across the residential sector has driven the stone coated steel roofing market. Further, enhance the overall market demand for Stone Coated Steel Roofing during the forecast period.  

Report Coverage

The “Stone Coated Steel Roofing Market Report– Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Stone Coated Steel Roofing Industry.

Key Takeaways

• The growing use of the residential industry is expected to be a key driver for the market, especially in the countries of North America, New Zealand and Australia.
•  Continuous competition and expensive nature of asphalt shingle stones will impede the growth of the market.
• With the increasing adoption of stone coated steel roofing in several Middle East countries, the market is likely to expand over the years ahead.

Application - Segment Analysis

The residential sector has been the primary market for Stone Coated Steel Roofing for many years, growing at CAGR 6.2%. Stone-coated steel roofing has quality like Lightweight material and aesthetic. It has the properties to provide optimal roofing solutions, such as protection against UV, corrosion resistance, sound absorption, and durability thus, used mainly in the residential sector, including apartments, villas, row houses, and roofs, because of qualities. In the United States, France, Poland, Belgium, Russia, Hungary, and Germany has also harsh conditions, which makes it very much preferable. The metal roofing tiles market in the residential sector, according to the Metal Roofing Alliance (MRA), has risen from 3.7% in 1998 to almost 20% by 2020. The market for metal roofs, which in turn gives stone-coated steel roofing industry a tremendous opportunity to grow over the year, is growing the awareness of homeowners and roof contractors about the advantages of metal roofing.

Geography - Segment Analysis

North America dominated the Stone Coated Steel Roofing Market share with more than 35.2%, followed by APAC and Europe. However, its application has spread around the world in recent years, especially in North American countries, with stone coated steel roofing being in New Zealand. This is because of their distinctive designs and versatile styles, durability long-tie assurance, energy efficiency, and other features. The United States was the largest market for stone coated steel roofing in North America. The increase in the number of housing projects in recent years. In Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho and South Carolina, Residential construction for single families have witnessed growth. The demand for stone-coated steel roofing in North America country has increased significantly.

Drivers – Stone Coated Steel Roofing Market

·         Massive growth in the Residential and the construction industry will drive the market:

The Residential construction industry with escalating renovation and new infrastructural projects are expected to enlarge the stone coated steel roofing business.  North America has experienced strong growth in the pharmaceutical, automotive and food and beverages industry. This has stimulated the product demand for roofing applications across the region. The significant rise in remodeling and renovation projects across the residential sector has driven the stone coated steel roofing market.

Challenges – Stone Coated Steel Roofing Market

·         Continuous Competition from Asphalt Shingles

This is due to its properties such as environmentally friendly, cost-effectiveness, durability and increased focus on building aesthetic appeal. Increasing investment in private construction worldwide, along with rapid urbanization resulting in increasing numbers of residential construction projects, has resulted in increased global demand for asphalt shingles. Asphalt roof shingles are the most preferred roofing material used throughout developed regions in residential repair and remodeling projects. The extreme weather and the emphasis on environmentally friendly roofing systems.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Stone Coated Steel Roofing Market. In 2018, the market of Stone Coated Steel Roofing has been consolidated by the top five players accounting for xx% of the share. Major players in the Stone Coated Steel Roofing Market are Bjorkstrand Metal Roofing, Boral, DECRA Roofing Systems, Inc., Gerard, Hartman Roofing, Hedrick Construction Inc., Lastime Exteriors, Midwest Lifetime Roof Systems, Inc., Petra Roofing Company, Roofing Southwest, Roser, Ross Roof Group, Terrabella Metal Roofing, among others.