European Roofing Tiles Market – Growth, Trends, Impact of COVID-19 and Forecast (2022)
The Europe Tiles Market is expected to grow at a CAGR above 6% during the forecast period (2022-2027). Due to the COVID-19 outbreak, national lockdown across the globe, disruption in manufacturing activities and supply chains, production stoppages negatively impacted the market in 2020.
New York, April 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Europe Roofing Tiles Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www. reportlinker.com/p06271912/?utm_source=GNW
However, conditions started to recover in 2021, thus restoring the growth trajectory of the market studied during the forecast period.
The major factors driving the market studied are the increase in demand from the construction industry and the growth in government policies favorable to green buildings.
The development of solar tiles is expected to offer various lucrative opportunities for market growth.
As for the end-user industry, the residential sector is expected to account for the largest share.
According to the countries, Germany is expected to dominate the regional market owing to the growth in the construction industry.
Main market trends
Steady growth in the residential sector
The increasing use of roofing tiles for residential applications is due to the fact that they can reduce the overall heat transfer in the attic by almost 70%, compared to an asphalt shingle roof.
Roofing tiles are available for different types of residences, including single family homes, townhouses, condominiums and apartment buildings. Installing roofing tiles in residential applications is one of the most cost effective choices, due to their long lifespan.
The UK government, under the NPIF, plans to invest £23 billion in housing, science and innovation, transport and a 5G network over the next five years, of which around 7, £2 billion was allocated for the construction of new housing and £4 billion for infrastructure.
In addition, in the United Kingdom, with an investment of $333 million, the construction of a 40-storey residential tower and a 14-storey office building at Albion Street in central Manchester has been commissioned. in the third quarter of 2021, with completion expected by 2024.
According to the European Commission, the French government as part of its Housing First (Le Logement d’abord) plan (2018-2022) has announced a tax exemption. As part of the 2020 budget, the housing tax has been completely abolished for 80.0% of French households. For the remaining 20.0%, the wealthiest households in the country, there has been a gradual decline in this tax rate from 2021, followed by a complete cessation of council tax by 2023.
According to the Spanish National Statistics Institute (INE), net household construction is expected to increase at an average rate of around 135,000 units each year from 2019 to 2025. Thus, residential construction is expected to increase significantly over the past few years. forecast periods. period.
Due to all the above mentioned factors for roof tiles in Europe, its market is expected to grow rapidly over the forecast period.
Germany will dominate the market
The German economy is the largest in Europe and the fifth largest in the world. With the booming construction industry in the country, the demand for tiles is expected to increase in the coming years.
In October 2021, the construction of a total of 29,597 housing units was authorized in Germany. Building permits from January to October 2021 increased by 4.2% compared to the same period of the previous year.
In addition, in December 2021, the turnover of building completion works increased by 9.1% in the third quarter of 2021 compared to the third quarter of the previous year, as indicated by the Federal Office for statistics (Destatis).
According to the Federal Statistical Office (Destatis), in 2021, the construction of 380,914 dwellings was authorized in Germany, registering an increase of 3.3% or 12,325 building permits compared to 2020. In addition, the figure annual turnover in the main construction sector in 2021 was up 1.0% compared to the previous year.
Furthermore, Germany’s new social-democratic government is focusing heavily on the country’s housing crisis. The government is creating a brand new ministry to oversee its housing plans. The government has promised more than 400,000 new homes each year from 2022, 100,000 of which will be state-subsidized. This is expected to fuel the demand for roofing tiles from the residential segment.
All in all, all these factors are expected to boost the construction industry in the country which, in turn, may boost the roofing tile market throughout the forecast period.
The roofing tile market in Europe is consolidated, with the top five players accounting for a major share of the market. Major market players (in no particular order) are Wienerberger AG, BMI Group, Etex Group, IKO Industries Ltd. and Crown Roof Tiles.
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