Unceasing Advancement in the Construction Industry in APAC to Drive the Global Roofing Tiles Market Until 2020, Says Technavio

LONDON--()--The global roofing tiles market is expected to grow at a CAGR of close to 7% during the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global roofing tiles market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of roofing tiles globally. The report also classifies roofing tiles into two major categories: clay roof tiles and concrete roof tiles.

Technavio research analysts list the following four regions as the key leading countries of the global roofing tiles market:

  • China
  • Germany
  • France
  • India

China: most promising construction market in APAC

China is the most valued construction market in APAC and the country’s construction expenditure is expected to increase by 8% every year until 2020. The country is set to experience healthy growth in the construction market because of rapid urbanization and industrialization, rising income levels, an increase in population and household income growth, and the government’s continuing efforts to expand and upgrade the physical infrastructure.

According to Sayani Roy, one of the industry experts at Technavio for research on construction, “The government of China is focusing extensively on the development of new airports in the country to de-stress the transportation networks. With the introduction of the New Urbanization Plan 2014-2020, the country has planned to increase the number of airports from 193 in 2014 to 230 by 2015.”

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Germany: 10% of the country's GDP spent on construction projects annually

The German economy is the largest national economy in Europe. It was ranked the fourth largest in the world by nominal GDP and fifth largest by GDP and public-private partnership (PPP). It is characterized by the concept of social market economy. The country is a founding member of the EU and the Eurozone. It is the third largest exporter in the world, accounting for more than one-third of the national output. In 2015, the country's exports were USD 1.31 trillion. Germany recorded the highest trade surplus in Europe, worth USD 243 billion in 2014.

The construction industry in Germany is one of the leading employers in the country, with 2.2 million workers as of 2015. “With many other industries linked with the construction industry, it serves as an economic driver to generate overall economic prosperity. It is estimated that 10% of the country's GDP is spent on construction projects annually,” adds Sayani.

France: ban on asbestos led to the growth of roofing tiles

The French economy was the world's fifth largest by nominal GDP and the ninth largest by GDP and PPP in 2015. It was the second largest economy in Europe in 2015. Its dynamic industrial structure characterizes the economy. The country is ranked fifth in the Fortune Global 500 rankings, behind the US, China, Japan, and the UK. Thirty-one of the biggest Fortune 500 companies in the world are headquartered in the country. France also houses the headquarters of Organization for Economic Co-operation and Development (OECD) in Paris.

The French construction industry has been experiencing a decline since the beginning of the Eurozone crisis in 2008. However, after the adaptation of more durable building materials such as roofing tiles made of clay and concrete, the market dynamics started to improve, thus increasing their popularity. Another development in the construction industry was the ban on asbestos due to its adverse health effects. Asbestos fibers easily accumulate in the lungs when inhaled and cause fibrotic lung disease. The prohibition of asbestos sheets for use in roofing purposes has been a major driver for the roofing tiles market in the country.

India: burgeoning demand for roofing tiles from the construction industry leading to market growth

The Indian construction industry is growing mainly due to the rise in infrastructure investments in the country. India has become a desirable destination for exporting construction materials such as roofing tiles primarily due to the increasing demand from the construction industry. Numerous infrastructure projects have been sanctioned across the country. The public sector and the government are laying special focus on the construction industry in order to achieve infrastructure excellence. In 2012, the Indian government had approved a funding of USD 1 trillion in the 12th Five Year Plan (2012-2017) for the development of infrastructure in the country. The construction industry has started to adopt micro concrete roofing tiles, which are light weight and the preferred choice among customers. In 2014, USD 290,000 worth of roofing tiles were exported from India to many parts of the world.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global roofing tiles market is expected to grow at a CAGR of close to 7% during the forecast period, according to Technavio’s latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com