Plastic Roofing Tiles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Plastic Roofing Tiles Market Analysis
The plastic roofing tiles market is expected to register a CAGR of over 5% during the forecast period.
The outbreak of COVID-19 heavily impacted the manufacturing and services sector, particularly the building and construction industry. Strict social distancing norms and nationwide lockdowns resulted in several construction and renovation projects getting delayed and, in some cases, abandoned. However, with the complete lifting of restrictions and the steady revival of the manufacturing and services sector, the building and construction industry is expected to witness a strong recovery in the future.
- The growing demand for residential construction across the world and the rising awareness of the potential benefits of plastic roofing tiles are expected to drive demand for the market during the forecast period.
- However, demand for the plastic roofing market could be slightly hindered, with plenty of potential substitutes being readily available in the market.
- On the flip side, owing to its low heat conductivity, the growing concept of constructing energy-efficient "green buildings" could potentially provide future opportunities for the plastic roofing tiles market.
- With an ever-increasing population and rapid urbanization across major economies, the Asia-Pacific region is expected to dominate the demand for the plastic roofing tiles market across the world.
Plastic Roofing Tiles Market Trends
This section covers the major market trends shaping the Plastic Roofing Tiles Market according to our research experts:
Growing Demand for Residential Construction
- Plastic roofing tiles have various advantages which give them an edge over other potential substitutes, including low thermal conductivity, lower maintenance costs, lesser susceptibility to damage, and easy transport and installation, which make them ideal for application in residential construction.
- Demand for residential construction is anticipated to rise in tandem with the growing population during the forecast period. According to the World Population Prospects by the United Nations, as of 2022, the global population is expected to reach 8.5 billion by 2030 and touch 9.7 billion by 2050.
- Major economies are witnessing growing demand for housing construction, with demand expected to continue to rise during the forecast period. For instance, according to a recent report by the House of Commons published in 2022, the number of households across England is anticipated to increase gradually to 26.9 million by 2043, registering an average increase of approximately 150,000 households each year.
- Similarly, according to the Ministry of Housing, Communities and Local Government (UK), new housing unit construction in the United Kingdom increased to 42,350 units in the first quarter of 2022 from 41,600 units in the fourth quarter of 2021.
- Across the North American region, the United States is expected to lead residential construction, with new residential construction expected to reach USD 881 billion by 2022 end, according to Statista.
- The aforementioned factors indicate strong growth potential for residential construction across the world, thereby driving demand for the plastic roofing tiles market during the forecast period.
Asia-Pacific Region Expected to Dominate the Market
- The rising population in major economies like China and India and the rapid urbanization in emerging economies across the Asia-Pacific region are expected to drive the need for residential and infrastructure construction across the region.
- For instance, by 2030, more than 40% of the total population is expected to relocate to urban areas in comparison to a present value of 34%, creating a huge demand for residential construction during the period. As per a joint study conducted by Global Construction Perspectives and Oxford Economics, India will need to construct close to 170 million homes by 2030, to suffice the growing housing demand in the country.
- According to Invest India, India has a total of USD 1.4 trillion in infrastructure investment budget under NIP, out of which 16% is allocated to urban infrastructure. With the support of such strong investments, the Indian construction industry is expected to reach USD 1.4 trillion by 2025. On the other hand, the real estate demand is forecasted to increase by 15-18 million sq. ft. during the same period across major metro cities.
- China witnessed a year-on-year increase of 7.4% in investment in infrastructure between January-July of 2022, with the government considering allowing local governments to sell up approximately USD 220 billion of the 2023 special bond quota in a bid to fund infrastructure construction.
- On the other hand, China's building construction completion value touched CNY 7.94 trillion (USD 1.12 trillion) in 2021, with residential construction contributing to 63% of the total, indicating strong demand for residential construction across the country.
- These aforementioned factors may drive regional growth during the forecast period.
Plastic Roofing Tiles Industry Overview
The plastic roofing tiles market is fragmented in nature. Some players in the market include Supaplastics Limited, Roofeco, SOGO Amarillo S.A. (MITASA Group), AHM Group, Pingyun International, and other companies.
Plastic Roofing Tiles Market Leaders
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SOGO Amarillo S.A. (MITASA Group)
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Roofeco
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Supaplastics Limited
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Pingyun International
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AHM Group
*Disclaimer: Major Players sorted in no particular order
Plastic Roofing Tiles Market News
July 2021: Meyer Burger announced its plans to add solar PV roof tiles to its product portfolio in the year 2022, following the acquisition of an integrated solar roof system solution from an unnamed German engineering service provider. The company intends to convert the niche market for integrated solar roof systems into a larger market with plans to begin the first phase of deliveries by the second half of 2022.
January 2021: Gyproc - Saint-Gobain India announced the launch of its first facility for the manufacturing of PVC laminated ceiling tiles and perforated acoustical tiles, in Gujarat India. The facility spread across 21,000 sq. ft. has an annual capacity of 6 million sq. mt. for both tiles combined. The company intends to cater to the market using its vast distribution network, through the new plant.
Plastic Roofing Tiles Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand for Residential Construction Globally
4.1.2 Potential Benefits over Other Types of Roofing Tiles
4.2 Restraints
4.2.1 Easy Availability of Potential Substitutes
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 End-user Industry
5.1.1 Residential
5.1.2 Non-residential
5.1.2.1 Commercial
5.1.2.2 Infrastructure
5.1.2.3 Industrial
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AHM Group
6.4.2 Foshan Nanhai HONGBO Plastic Factory
6.4.3 Foshan Rufu Tile Industry Co. Ltd
6.4.4 Foshan Yiquan Plastic Building Material Co. Ltd
6.4.5 Green Sustainable Products Company Ltd.
6.4.6 Gudangdong Gaoyi Building Materials Science and Technology Co. Ltd
6.4.7 Jieli Industrial Co. Ltd
6.4.8 Pingyun International
6.4.9 Roofeco
6.4.10 Shandong Eyeshine New Material Co. Ltd
6.4.11 SMARTROOF
6.4.12 SOGO Amarillo SA (MITASA Group)
6.4.13 TILECO Sp. z.o.o.
6.4.14 Supaplastics Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Concept of Energy-efficient Green Buildings
Plastic Roofing Tiles Industry Segmentation
Plastic roofing tiles are flat, square pieces manufactured using polymer-based or composite materials, 30% plastic waste and 70% sand, and others. These tiles are used to cover pitched roofs to protect them from rain and sunlight.
The plastic roofing tiles market is segmented by end-user industry and geography. By end-user industry, the market is segmented into residential and non-residential. The report covers market sizes and forecasts for 15 major countries across the region. For each segment, market sizing and forecasts have been done on the basis of value (USD million).
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Plastic Roofing Tiles Market Research FAQs
What is the current Plastic Roofing Tiles Market size?
The Plastic Roofing Tiles Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Plastic Roofing Tiles Market?
SOGO Amarillo S.A. (MITASA Group), Roofeco, Supaplastics Limited, Pingyun International and AHM Group are the major companies operating in the Plastic Roofing Tiles Market.
Which is the fastest growing region in Plastic Roofing Tiles Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Plastic Roofing Tiles Market?
In 2024, the Asia-Pacific accounts for the largest market share in Plastic Roofing Tiles Market.
What years does this Plastic Roofing Tiles Market cover?
The report covers the Plastic Roofing Tiles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Plastic Roofing Tiles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Plastic Roofing Tiles Industry Report
Statistics for the 2024 Plastic Roofing Tiles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plastic Roofing Tiles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
