Global Roofing Demand to Exceed 11 Billion Square Meters in 2014

Global demand for roofing materials is projected to grow 3.1 percent annually through 2014 to 11.1 billion square meters, a noticeable improvement from the market gains registered during the recession-impacted 2004-2009 period.  Market advances will be driven by an acceleration in residential building construction activity, supported by both a rebound in spending in large developed world countries such as Japan and the US, and by healthy sales environments in a number of industrializing nations. 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.

China alone will account for 35 percent of all additional demand through 2014, strengthening its position as the largest roofing market in the world in area terms.  Growth is also expected to be healthy in lower-volume developing world markets like Turkey, India, Hungary, Nigeria and Pakistan.  The sales outlook for Eastern Europe is somewhat uneven, with some countries expected to register above-average market gains, while roofing demand will expand at a subpar rate in others.  Although advances will generally be not as strong as in developing nations, roofing demand in developed parts of the world will climb as well, fueled by renewed strength in new housing construction expenditures.  In a few industrialized countries, most notably Spain, the pace of growth through 2014 will be similar to gains in developing areas, reflecting an upturn in building construction after a period of decline.

Although the popularity of various roofing materials differs from area to area, global sales are dominated by bituminous and tile (clay and concrete) products, which together account for over 70 percent of all roofing demand in area terms.  Concrete roofing tiles will post the fastest market increases of any major product type through 2014, stimulated by above-average growth in building construction in developing Asian nations, where concrete tile accounts for the largest single share of roofing sales, and supported by rising standards of living, which are making concrete products more affordable.  Asphalt shingle and plate and modified bitumen roofing demand will climb at the next fastest rates.  Suppliers of asphalt shingles and plates will benefit from renewed strength in new single-family housing construction in the US and Canada, with competitive inroads against other steep-slope roofing materials in the smaller but fast-growing Chinese market also boosting product 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.