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Stone Coated Steel Roofing Market - Forecast(2024 - 2030)
Stone Coated Steel Market Overview
Stone Coated Steel Roofing market size is forecast to reach $1.9 billion by 2030, after growing at a CAGR of 9% during 2024-2030. 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.
With increasing environmental concerns, consumers are gravitating towards eco-friendly building materials. Stone coated steel offers durability and recyclability, reducing the need for frequent replacements and minimizing waste. Manufacturers are focusing on improving production processes to reduce carbon footprint and incorporate more sustainable sourcing practices. Additionally, the longevity of stone coated steel roofs contributes to energy efficiency by reducing the need for heating and cooling, further aligning with sustainable building practices.
Continuous innovation in design and technology is driving growth in the stone coated steel market. Manufacturers are introducing advanced coating techniques, enhancing durability and weather resistance. Furthermore, innovations in color options and textures are expanding the aesthetic appeal of stone coated steel, appealing to a wider range of architectural styles and preferences. Integration of smart technologies for monitoring and maintenance is also emerging as a trend, offering added value to consumers and improving the overall performance of stone coated steel roofing systems.
COVID-19 Impact
The COVID-19 pandemic has significantly impacted the Stone Coated Steel Market. Initially, the market witnessed a downturn due to disruptions in the supply chain, labor shortages, and construction halts imposed by lockdown measures. Many projects were delayed or postponed, leading to reduced demand for stone-coated steel roofing materials. However, as economies gradually reopened and construction activities resumed, the market began to recover. The increased emphasis on durable and sustainable building materials post-pandemic has driven renewed interest in stone-coated steel, owing to its longevity, weather resistance, and eco-friendly attributes. Additionally, rising concerns about the spread of infectious diseases have prompted a greater focus on hygiene and cleanliness, further boosting the adoption of easy-to-clean materials like stone-coated steel. Overall, while the pandemic initially posed challenges, the Stone Coated Steel Market is now poised for steady growth as the construction sector rebounds and consumer preferences evolve.
Report Coverage
The “Stone Coated Steel Roofing Market Report– Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Stone Coated Steel Roofing Industry.
By Type: Classic Tile (Stone Coated Steel Tile), Stone Coated Steel Shake, Stone Coated Steel Shingle, Barrel Vault Tile
By Application: Residential Buildings, Commercial Buildings, Institutional Buildings (Schools, Religious Buildings, Others), Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa)
Key Takeaways
• The growing use of the residential industry is expected to be a key driver for the market, especially in the regions 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.
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Stone Coated Steel Market Analysis - Application
The residential sector has been the primary market for Stone Coated Steel Roofing for many years, growing at CAGR 6.2% in 2023. 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 has risen to almost 22% by 2023. 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.
Stone Coated Steel Market Analysis - Geography
North America dominated the Stone Coated Steel Roofing Market share with more than 35.2% in 2023, 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 American region has increased significantly.
Stone Coated Steel Market Drivers
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.
Stone Coated Steel Market Challenges
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.
Stone Coated Steel Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Stone Coated Steel Roofing Market. The key companies in the Stone Coated Steel Roofing Market are:
- Flack Steel LLC (Fabral, Inc.)
- Cornerstone Building Brands, Inc.
- Bjorkstrand Metal Roofing
- Seven Group Holdings (Boral)
- IKO Industries, Ltd. (DECRA Roofing Systems, Inc.)
- Gerard Roofs
- Hartman Roofing
- Hedrick Construction Inc.
- Lastime Exteriors
- Ross Roof Group
Recent Developments
• In July 2022, A Fabral Metal Wall and Roof Systems production facility was inaugurated in Salt Lake City, replacing the company's former site in Cedar City, Utah. The new establishment boasts expanded space, enhanced features, improved accessibility for its primary customer base, and a larger workforce pool.
• In August 2022, Cornerstone Building Brands, Inc. has unveiled a fresh partnership with Dave and Jenny Marrs to promote their Ply Gem Mastic siding and accompanying accessories.