Solar Metal Roof Market Forecast to 2030

Solar Metal Roof Market: Introduction

Solar metal roofs help build integrated photovoltaic construction elements that replace conventional roofing and facade materials
Solar metal roof is primarily used in the building & construction industry. It is widely utilized in residential complexes and non-residential buildings such as hotels, office buildings, educational buildings, industrial warehouses, and storage buildings. Rise in number of government housing schemes and increase in urbanization are estimated to boost the solar metal roof market.

Key Drivers of Global Solar Metal Roof Market

The roofing industry is projected to expand substantially in emerging economies during the forecast period due to rise in government support in the form of subsidies and tax benefits for construction activities. This is expected to boost the solar metal roof market in these countries.
Governments in developing and developed economies are encouraging citizens to replace their existing roofs with energy-efficient ones. This is anticipated to boost the demand for cool roofs. For instance, homeowners who have invested in energy-efficient roofing systems can avail tax credits. Tax credits include ENERGY STAR qualified metal roofs and other types of certified solar metal roof that reflect the rays of the sun to reduce roof temperatures and air conditioning costs. These factors are estimated to drive the solar metal roof market across the globe.

Industrial Application Segment to Witness Attractive Opportunities

Based on application, industrial was a highly attractive segment of the global solar metal roof market in 2019. Demand for environmentally-friendly products has been rising in the world since the last few years. Most commercial complexes such as educational buildings have started adopting the solar metal roof technology to lower their energy consumption. Over the last two years, innovations in the renewable energy sector have enabled the development of sustainable and customized coating solutions. This has boosted the global solar metal roof market.

Less Awareness among Consumers Likely to Hamper Market

Currently, solar metal roof is a green technology; however, it is not a new concept. In the 1980s, a research was conducted by the Departments of Energy in California and Tennessee to analyze ‘solar radiation control coatings’ on rooftops. It was found that energy costs decreased when these roofs were used.
Solar metal roof is an emerging technology used for temperature control of buildings. Solar metal roof prevents heat absorption by reflecting the sun’s heat and emitting its radiation back into the atmosphere. This results in comfortable and controlled indoor environment.
Low awareness about solar metal roof among customers is adversely affecting the market. However, new projects have been initiated by various governments to promote the use of solar metal roof. For instance, in 2017 and 2018, cities such as Ahmedabad and Hyderabad in India, initiated pilot cool roof programs. These programs included awareness campaigns, pilot initiatives targeting 3,000 roofs, and application of cool roof techniques in government buildings and schools.

Asia Pacific to Hold Major Share of Global Solar Metal Roof Market

In terms of value and volume, North America accounted for prominent share of the global solar metal roof market in 2019. North America is projected to be a highly lucrative region of the global solar metal roof market during the forecast period, due to increase in the usage of eco-friendly products in the region.
Asia Pacific is also anticipated to be an attractive region of the global market during the forecast period. This can be ascribed to the rise in investments to lower energy consumption by various governments in the region.
Middle East & Africa and Latin America held minimal share of the global market in 2019. These regions are estimated to maintain their market share by the end of the forecast period.

Key Players in Global Solar Metal Roof Market

Various players operate in the global solar metal roof market. However, there is an increasing shift in dynamics toward market consolidation. This can be ascribed to new product developments by major companies operating in the U.S. and Europe in order to capitalize on untapped potential in Asia Pacific and Africa. Key players operating in the global solar metal roof market are: