The global roofing market is expected to increase sales by about a third this year, according to a new study by Interconnection Consulting. However, most of the growth comes not from increased sales but from inflationary trends.

In 2022, the market volume for roofing is expected to rise from €16.6 billion to €21.9 billion, an increase of 31.8%. However, this increase is mainly due to price increases. Supply chain issues leading to a shortage of supply have already led to price increases of 15% to 140% in 2021. Price increases should continue in Q1 and Q2 of 2022, while sales volume growth is expected to be comparatively moderate at +6.7%.

Romania and Poland Grow Strongest

The world’s largest market for roofing in value is China, which takes a 33.6% share among the countries analysed (see below), followed by the US with 21.4%. Romania and Poland are the fastest growing markets, although growth is characterised more by inflation than by a strong increase in sales. Thus, the annual increase in these two countries until 2025 is 30 and 22%, respectively. High growth potential is also found in Saudi Arabia or the United Arab Emirates. Germany is the country with the strongest sales volume in Europe. A strong increase in new constructions also raises expectations for the sector in Germany and France, with average growth rates of over 7% in the two most important markets in Europe.

Flat Roofs Dominate

Overall, it is the new construction segment that is driving the economy. With average growth rates of 7-8% until 2025, the segment is growing significantly faster than the renovation sector. Residential construction is the dominant sector with a share of 63%. The predominant roof segment is flat roofs with 49% and still increasing market shares, ahead of pitched roofs with 43.7%. Bitumen, which is the dominant building material for flat roofs, will lose a little share because the increase is lower (+3.6%) than the market average. Overall, bitumen has a share of around 47%.

The study looked at the following countries: UK, Benelux, France, Spain, Italy, Germany, Austria, Switzerland, Hungary, Poland, Romania, Slovakia, Czech Republic, Sweden, Turkey, Russia, Saudi Arabia, United Arab Emirates, USA, China.

Link to the report

24/03/2022

Copyright: Interconnection, Publication free of charge for coverage regarding the study and InterConnection Consulting.