Latin America Roofing Materials Market Report and Forecast 2023-2028

Latin America Roofing Materials Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Latin America roofing materials market reached a value of USD 7.2 billion in 2022. Aided by the increasing demand for sustainable and energy-efficient solutions, the market is projected to grow at a CAGR of 4.5% between 2023 and 2028, reaching a value of USD 9.23 billion by 2028.

Roofing materials are essential in the construction industry as they offer durability, insulation, and protection from the elements. According to the Latin America roofing materials market research, the market has witnessed a shift towards eco-friendly and energy-efficient products in recent years, driven by growing awareness about sustainable construction practices and stringent regulations.

The market's growth is primarily driven by factors such as rapid urbanisation, expanding residential and commercial construction sectors, and the increasing adoption of energy-efficient roofing solutions. Furthermore, advancements in material technology and the development of new roofing materials with improved durability, insulation, and energy efficiency are expected to propel the Latin America roofing materials market growth.

A lot of construction work is being done in Latin America, especially in Brazil and Argentina, which is a significant region for manufacturing. Due to their high strength, shingles and plates are the most widely used roofing materials for homes since they are long-lasting and incredibly robust. In recent years, rising demand for certain roofing materials from the residential sector has driven Latin America roofing materials market expansion. The most popular shingles on the market include monk and nun, imbrex and tegula, Dutch roof, asphalt shingles, asbestos shingles, shakes, slates, and Mangalore tiles.

The development of reflective coatings that may be applied to dark-coloured roofing materials is anticipated to be advantageous to the market. Reflective coatings minimise the overall energy consumption of building structures and have exceptional heat reflection properties. The procedure for constructing a roof is predicted to undergo a revolution when more cutting-edge tools, like drones, are utilised to inspect rooftops. Furthermore, it is anticipated that over the projected period, demand for roofing materials would increase as more structural roofing system components are produced using 3D printing technology, thereby aiding the Latin America roofing materials market.

Market Segmentation

The market can be divided based on type, application, and country.

Market Breakup by Type

• Asphalt Shingles
• Metal
• Concrete and Clay Tiles
• Elastomers and Plastic
• Others

Market Breakup by Application

• Residential
• Non-Residential

Market Breakup by Country

• Brazil
• Argentina
• Mexico
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Latin America roofing materials companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• BMI Group
• Owens Corning
• Etex SA
• Megaflex Ltd.
• Dextra Group
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.