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India Roofing Market to Grow at a CAGR of 7.19% During 2021-2026, Aided by the Thriving Building and Construction Industry

According to a new report by EMR titled, ‘India Roofing Market Report and Forecast 2021-2026’, the market is expected to grow at a CAGR of 7.19% between 2021 and 2026 to attain a value of USD 6.58 billion by 2026.

The India roofing industry is being driven by the thriving building and construction sector in the country. The roofing is an essential part of any residential or commercial building as it provides safety and security to the building. Meanwhile, the rising investment towards the development of public infrastructures, such as educational institutes, hospitals, government offices, and others is likely to bolster the demand for roofing.

On the basis of material, the metal segment accounts for a significant share in the market owing to its superior properties as well as environmental-friendly nature when compared to its counterparts. The fact that metal roofs can reflect the UV and infrared rays emitted from the sun is driving their demand as this can reduce the cost of cooling by 10-25%. Moreover, the rapid technological advancements and the rising innovations by the leading domestic players are further propelling the market forward. For instance, In May 2020, Tata BlueScope launched a smart steel structure known as EZYBUILD to ramp up healthcare infrastructure amidst the country’s fight against COVID-19. These smart steel structures are easy to develop and install, and, thus, can be used as customised lifecare solutions in form of isolation and quarantine units, testing booths, and sample collection cabins. Such developments are likely to provide a further boost to the roofing industry in India.  In addition, the leading global players in the roofing market, such as Carlisle Companies (NYSE: CSL) and Owens Corning (NYSE: OC) are adopting growth strategies like increasing mergers and acquisitions, capacity expansions, and increased R&D investments to enhance their customer base in emerging markets such as India.

The market is further expected to be propelled by the increasing number of skilled labourers in India and the rising adoption of cutting-edge technology in the forecast period. Currently, the low labour cost in the country and the availability of raw materials is positively impacting the roofing industry growth in India.

Market Breakup by Material, Type, End Use, and Region:

  • The market is segmented based on material into bituminous, tiles, metal, and plastic, among others.
  • The different types of the product include flat roof and slope roof. 
  • The major end uses of the product include residential, commercial, and industrial.
  • Region-wise, the India roofing industry is divided into North, East, West, and South.

Key Findings of the Report:

  • The roofing market in India is being driven by the thriving building and construction industry, where roofing is an essential part of the structure. 
  • The favourable properties of metal roofing, including its longevity and recyclability, are expected to further aid the market in the forecast period.  
  • The rising innovations and the introduction of new roofing technologies are likely to bolster the market growth.  
  • The increasing number of skilled labourers in India is anticipated to favour the market growth by making the installation process much easier and less time consuming.

Key Offerings of the Report:

  • The EMR report gives an overview of the roofing market in India for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the materials, types, end uses, and major regions of roofing in India.
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India roofing market are Tata Bluescope Steel, JWS Steel, Coated Products Limited, Everest Industries Limited, Bansal Roofing Products Limited, Hindalco Ind Ltd., and CK Birla Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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