Slate Roofing Market Trends, Share, Industry Size, Growth, Opportunities 2023

Global Composite slate roofing market is predicted to garner a CAGR of 2.90% during the forecast period (2017-2023). The rising availability of innovative construction solutions is favoring the market growth. Also referred to as synthetic slate roofing, composite slate roofing is a durable, attractive, and affordable roofing solution to the conventional roofing. They are generally manufactured by high-grade recycled plastic, polymer and synthetic-based composite, rubber, and other materials. Available in varied color and style, composite slate roofing is light in weight and can be easily installed on structures due to their unique properties which help them to withstand high fire, water, and extreme climatic conditions.

Market Potential and Pitfalls

Composite slate roofing is made by combining the surface of minimum two different materials in order to enhance its durability, combine the unique properties of the materials, and improve the elasticity. Usually made from rubber, plastic, or a combination of both, some manufacturers use recycled materials or virgin resins. They are known as synthetic slate roofing. With the surging construction industry across the world coupled with its low maintenance cost, the composite slate roofing market is estimated to flourish. The market’s course is chiefly directed by the booming construction industry worldwide coupled with the low maintenance cost of such roofing. Composite slate roofing has been one of the best choices for roofing materials over the last few decades for residential as well as non-residential infrastructure. Popular shades of composite slate roofing comprise grey-blue, red, green, purple-grey, and black. With the ever-increasing population, surging demand for packaged products, and improved standard of living, the demand for composite slate roofing market is estimated to trigger. Composite slate roofing also offers benefits such as user-friendly solutions and longer shelf life in terms of storage which are estimated to inflate the market growth across the globe. Moreover, this roofing has been specifically designed to meet all the physical requirements of the supply chain in order to ensure that the item arrives on time besides preserving its texture. Such factors are estimated to contribute to the global market.

On the contrary, the high availability of other alternatives along with the economic slowdown is some of the top concerns considered to vitiate the market growth during the appraisal period.

Global Composite Slate Roofing Market: Segmental Analysis

The global composite slate roofing market has been segmented on the basis of type and end-user.

By mode of type, the global composite slate roofing market has been segmented into tiles and shakes and shingles. Among these, the shingles segment is estimated to occupy the largest market share with 67.42% in 2016. The segment will expand at a CAGR of 4.23% by the end of the review period.

By mode of end-users, the global composite slate roofing market has been segmented into residential and non-residential. Among these, the residential sector is estimated to expand at the highest rate owing to the surging urbanization and ever-increasing population. Moreover, the recovering residential construction, especially in the developed regions, is anticipated to fuel the re-roofing activities, which in turn propels the composite slate roofing market.

Regional Insights

Geographically, the composite slate roofing market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

Considering the global scenario, the Asia Pacific region is considered to be the fastest and the largest expanding region for composite slate roofing. The growth has been ascribed to the booming industrialization, and the ever-increasing urbanized population. With the burgeoning adoption of composite slate roofing in residential as well as commercial sectors, the market is estimated to flourish in this region. The increased awareness associated with the benefits of roofing materials, increasing renovation projects, and growing infrastructure development activities, the market is likely to experience a boom in the coming years. The regional market touched a market value of USD 1,136.6 million in 2016 and is expected to expand at a CAGR of 4.82% by the end of the forecast period.

The European region is likely to acquire the second spot and is likely to retain its position in the coming years. The growth has been ascribed to the increased residential replacement activities, surging interest in cost-benefit construction and energy savings. The regional market touched a valuation of USD 651.6 million and is likely to expand at a CAGR of 4.02% in the coming years.

Industry Updates

April 18, 2019: VaporShield has recently declared the launch of the SlopeShield Plus Self-Adhered, which is their latest roof membrane underlayment system. The extensive vapor-permeable roofing underlayment Air Barrier comprises VaproShield’s pending Vapor Permeable Polymer Composite Technology.

Competitive Dashboard

The prominent players operating in the global composite slate roofing market comprises Ply Gem Roofing (U.S.), DaVinci Roofscapes, LLC (U.S.), Enviroshake Quality Engineered Roofing (Canada), CertainTeed Corporation (U.S.), Moderne Slate Roofing Systems (U.S.), EcoStar LLC. (U.S.), Colorado Roofing Contractors, LLC (U.S.), Baker Roofing Company (U.S.), Brava Roof Tile (U.S.), Inspire Roofing Products (U.S.), and others.

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