| Label | Commercial | Residential | Industrial |
|---|---|---|---|
| 2016 | 2630.6 USD Mn | 3858.8 USD Mn | 3108.5 USD Mn |
| 2017 | 2705.8 USD Mn | 3982.6 USD Mn | 3193 USD Mn |
| 2018 | 2789 USD Mn | 4119.1 USD Mn | 3286.8 USD Mn |
| 2019 | 2880.2 USD Mn | 4268.3 USD Mn | 3389.8 USD Mn |
| 2020 | 2976.8 USD Mn | 4426.7 USD Mn | 3499 USD Mn |
| 2021 | 3090.2 USD Mn | 4610.9 USD Mn | 3627.5 USD Mn |
| 2022 | 3208.2 USD Mn | 4803.4 USD Mn | 3761.2 USD Mn |
| 2023 | 3331.1 USD Mn | 5004.4 USD Mn | 3900.4 USD Mn |
Data Source: Wantstats Repository
Market Dynamics
The roofing market in China has experienced significant demand in recent years due to various factors such as urbanization, increasing disposable income, and government initiatives promoting sustainable construction. The demand for roofing materials is expected to further increase in the coming years as the country continues to focus on infrastructure development and improving the quality of housing. One of the major drivers of demand for roofing materials in China is urbanization. The country's rapid urbanization has led to a sharp rise in the construction of residential, commercial, and industrial buildings, leading to a higher demand for roofing materials. According to the United Nations, China's urbanization rate reached 57.3% in 2016 and is expected to continue to increase in the coming years, further boosting the demand for roofing materials. In terms of regional demand, the eastern region of China has dominated the roofing market, accounting for the largest share in 2016. This can be attributed to the region's high population density and high economic growth, which have led to a surge in construction activities.
Moreover, the eastern region is home to several key industries such as manufacturing, services, and technology, which require modern and high-quality roofing materials, driving the demand even further. The central region of China has also witnessed an increase in demand for roofing materials, mainly due to the government's initiatives to promote infrastructure development and balanced regional growth. The central region, particularly the provinces of Henan, Hubei, and Hunan, has seen significant investment in the construction of railways, highways, and other infrastructure projects, leading to a higher demand for roofing materials. The demand for roofing materials in the western region of China is also on the rise, driven by the government's efforts to promote sustainable construction and improve the quality of housing in less developed provinces. This has led to a growing demand for eco-friendly and energy-efficient roofing materials in the western region, creating opportunities for local and international roofing companies. In conclusion, the demand for roofing materials in China is expected to continue to grow across all regions due to various factors such as urbanization, infrastructure development, and government initiatives.
The market presents a significant opportunity for roofing companies to expand their presence and tap into the country's growing construction industry.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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