Roofing tiles: Key market research findings
- Durability and cost-efficiency of roofing tiles to drive market growth
- Clay tiles to account for a majority share of the market’s revenue
- Key vendors – Braas Monier Building Group, Etex, IKO, and Wienerberger
Technavio’s market research analysts predict the global roofing tiles market to grow at a CAGR of around 7% between 2016 and 2020. The advanced attributes of roofing tiles such as durability and cost-efficiency will drive its demand in the market. China accounts for the majority share of the demand for roofing tiles owing to its fast-growing construction market. Rapid urbanization and industrialization, rising income levels, an increase in population and household income growth, and the government’s continuing efforts to expand and upgrade the physical infrastructure are some of the factors that will boost the demand for roofing tiles in China during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the roofing tiles segments based on the type.
“Recently, there has been a significant increase in the adoption of green technology in the manufacture of roofing tiles. Companies are implementing green building and energy-efficient technologies in the foundation, structure, roofs, and windows of buildings to bring about energy efficiency. As roofing comprises a major area of a building, it will result in the adoption of practices like using fly ash in roofing tiles by companies worldwide,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
At present, the clay tiles segment accounts for more than 52% of the market’s revenue. Clay roofing tiles have a better aesthetic appeal, and are much easier to maintain as it is a naturally occurring material. These materials are widely used in the construction of structures such as hotels. The clay roofing tiles market is flourishing primarily due to the growth of the tourism sector in Southeast Asian countries like Thailand and the boom in the hotel industry.
The key vendors in the global roofing tiles market include Braas Monier Building Group, Etex, IKO, and Wienerberger. The global roofing tiles market is highly fragmented owing to the presence of several unorganized players in multiple segments. The manufacturers are investing heavily in new product development, which is, in turn, expected to intensify the level of market competition.
A more detailed analysis is available in the Technavio report, Global Roofing Tiles Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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