Impact of Covid-19 Outbreak on Steel Roofing Market

15/lug/2020 12:10:26 Automotive Market Research Reports Contatta l'autore

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Growing number of constructional projects owing to the need for expansion in residential, commercial, and industrial space, is creating the need for steel roofing. The increase in the sale of steel roof is expected to surge its global market, states Market Research Future (MRFR). In the “Steel Roofing Market” report, MRFR reveals that the market is expected to thrive at about 6.2% CAGR through the forecast years (2019 to 2025). Steel roofing is a sturdy roofing solution. The need for strong infrastructure is likely to gain traction for steel roofing. In addition, steel roofs are energy-efficient and are eco-friendly. Steel roofs are gaining popularity owing to these characteristics. These are factors that are expected to cause a hike in the global steel roofing market value. Hence, by 2025, the market is anticipated to cross a valuation of USD 1500 million. The high investment inflow in non-residential constructions, such as schools, hospitals, and other infrastructure, is pressing the need for steel roofing market. The installation of steel roof is easy, and other related installation advantages are expected to impel the market in the foreseeable future.

Segmental Outline

The global market of steel roofing is studied by application and type. Corrugated steel panels, stone-coated steel tiles, steel shingles and shakes, and standing seam are type segments of the global steel roofing market. The corrugated steel panels are widely used by builders to construct slope roofs that allow easy downwards run of water from buildings. This is expected to cause the corrugated steel panels segment to generate high revenue for the global steel roofing market. The market, based on application, is segmented into non-residential and residential. The growing number of residential and non-residential constructional projects are creating growth scope for the steel roofing market. The rise in need for constructional developments, and remodeling and refurbishment is expected to spur the global market growth.

Regional Outlook

In the Asia Pacific region, the steel roofing market is expected to attain a high valuation by the end of the forecast period. The growing need for remodeling and refurbishment of existing infrastructure is noted to cause surge in the regional market. The expansion of the population base in the region is creating the need for employment. This, in turn, is pressing the need for commercial and industrial constructions. Alongside, the need to create residential space is also surging. The easy availability of raw material in APAC is expected to spur the bolster the regional market growth. Hence, the APAC steel roofing market is expected to lead in the global market across the assessment period, states MRFR. The availability of equipment and machinery for the production of steel roof in North America and Europe is likely to impel the steel roofing market in these regions.

Key Players

MRFR listed prominent players of the global steel roofing market. They are; Certainteed (US), Fabral (US), Nucor Building Systems (US), Kingspan Group (Ireland), Fletcher Steel Limited (New Zealand), Cornerstone Building Brands (US), Tata Steel Europe Limited (UK), Blachy Pruszyński (Poland), EDCO Products (US), Ideal Roofing (Canada), ATAS International, Inc. (US), Safal Group (South Africa), Bilka (Romania), CHIEF INDUSTRIES, INC. (US), and McElroy Metal (US). Contributions of companies that are dealing in steel roof is likely to benefit the steel roofing market. The presence of numerous steel roof manufactures across the globe is causing intensive competition among them, as they thrive to launch new products. The diversification of product portfolio is expected to cause the steel roof market gain high revenue in the assessment period. These factors are expected to spur the global steel roofing market growth.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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