The new report by Expert Market Research titled, 'Latin America Roofing Materials Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027', gives an in-depth analysis of the Latin America roofing materials market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2020): Approximately USD 6.1 billion

• Forecast CAGR (2022-2027): 4.2%

The rising construction sector and technological advances are propelling the roofing materials market forward. The demand for roofing products has increased as a result of technological advancements such as green roofing, environmentally friendly roofing materials, and roof inspection drones. The residential segment, in applications, is expected to grow the fastest, due to the popularity of eco-friendly roofing technologies and rising real estate investment. The market is accelerating due to rising income levels, expanding urbanisation and industrialisation, and increased government efforts to invest in infrastructure development.

Industry Definition and Major Segments

Roofing is the process of covering the roof of a structure with an exterior covering. The outer coating may be self-supporting or supported by the systems beneath it. Customers and developers alike are becoming increasingly concerned about the environment, and tiles are one of the most prevalent sort of products. Clay and concrete tiles are very popular since they last a long time and have been shown to have a positive impact on the environment. Roofing materials are available in chemical and silicate variety.

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On the basis of type, the roofing materials market is divided into:

• Asphalt Shingles

• Metal

• Concrete and Clay Tiles

• Elastomers and Plastic

• Others

On the basis of application, the market can be bifurcated into:

• Residential

• Non-Residential

The regional markets for the product include:

• Brazil

• Argentina

• Mexico

• Others

Market Trends

Green roofing, which avoids power wastage while simultaneously improving air quality and extending the roof's life cycle, has seen an increase in demand. The roofing sector is being propelled forward by various programmes concentrated on energy-efficient measures, such as repairing existing buildings and replacing old roofs with new ones. The construction of commercial structures such as multiplexes and retail malls has supported the industry expansion in Latin America due to changing habits and increased urbanisation. In recent years, rising demand for tiles and shingles from the residential sector has driven the market expansion. The increased reliability, aesthetics, and convenience of installation associated with this product are projected to drive the market growth.

Key Market Players

The major players in the market are BMI Group, Owens Corning, Etex SA, Megaflex Ltd., and Dextra Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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