The flourishing construction industry is expected to have a tremendous impact on the market, states Fortune Business Insights, in a report, titled “Steel Roofing Market Size, Share & Industry Analysis, By Product Type (Color coated roofing sheets, Profile Sheets, Galvanized Sheets, Curving Sheets, Tile roof sheets, Louvers, Roof Ventilators, C & Z purlins, Others), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2022-2029.” The market is primarily driven by growing demand for eco-friendly roofing materials.
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The report on the steel roofing market highlights:
- Superior insights into the market
- In-depth analysis of the segments
- Recent trends and developments
- Comprehensive study of regions
- Important about prominent players
Market Driver:
Acquisition of Badger Building Supply by ABC Distribution to Propel Growth
The increasing collaborations and acquisitions among major companies are expected to foster the healthy growth of the market. For instance, ABC Distribution Co. Inc, a major, private American roofing supply company based in Beloit, Wisconsin announced it has acquired Badger Building Supply Inc. to expand its activities and operations at the West Milwaukee facility. The growing utilization of steel Roofs owing to its durability and effectiveness can create opportunities for the market in the forthcoming years. The growing use of environment-friendly products in the construction industry is expected to boost the growth of the market in the forthcoming years. Moreover, lightweight steel roofing reduces internal structural reinforcement needs in new building projects, reducing material and labor costs. In addition, the shift from conventional materials to robust construction materials is expected to duel demand for steel roofing, hence aiding the growth of the market.
However, the high installation cost and timely maintenance owing to its corrosive properties can subsequently limit its adoption, which, in turn, can hamper the market growth in the near future.
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Regional Analysis:
Rising Infrastructure Development to Augment Growth in Asia Pacific
The market in Asia Pacific is expected to rise tremendously during the forecast period owing to the growing infrastructure development in the commercial and industrial sectors in nations like India and China. The growing government initiatives for the construction of schools and colleges in rural areas is predicted to enable speedy expansion of the market in the region. The market in North America is predicted to exhibit a high growth rate during the forecast period owing to the high living standards of people in the region, thus fueling demand for luxurious houses and bungalows. Europe is expected to hold a significant share due to the growing investments in the construction industry in the U.K., Italy, France, and Russia. The growing government spending on commercial and manufacturing sectors is expected to aid expansion in the region.
The Report Lists the Key Companies in the Steel Roofing Market:
- The OmniMax International, Inc.
- Jinhu Color Aluminum Group
- Metal Sales Manufacturing Corporation Ideal Roofing Co. Ltd, Inc.
- ATAS International, Inc.
- Reed’s Metals, Inc.
- Firestone Building Products Company, Inc.
- BlueScope Steel Limited
- DECRA Roofing Systems, Inc.
- Carlisle SynTec Systems.,
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