In 2017, the North American roofing industry was valued at $12.8 billion and is projected to grow to about $14.4 billion by 2023. Demand for market-leading asphalt shingles is projected to decline due to environmental concerns surrounding the product, while demand for natural, eco-friendly roof materials, such as clay and cement tile, is expected to increase.
Other market drivers contributing to the demand for tile roofing include increased remodeling and renovation, increased awareness of green roofing technologies and more frequent severe weather events, including wind-driven wildfires and hurricanes.
The global market for concrete and clay tile roofing is projected to grow at a 3.3% annual rate to 3.8 billion square meters in 2014, outperforming most other types of roofing materials.
Concrete and clay tiles are the second most commonly used roofing product making up one-third of 2009 roofing demand but hold the largest share in roofing dollar sales worldwide.