R Industry Study Freedonia
Study # 1817 World Roofing August 2004 $5100 Forecasts to 2008 & 2013 for 26 countries & 6 regions
Global demand to Europe, where building North America WorldWorld RoofingRoofing construction activity will approach US$48 38% Demand, 2008 support demand for billion in 2008 Demand, 2003 bituminous membrane (7(6 billionbillion squaresquare meters)meters) roofing. Worldwide demand for roofing materials is fore- Tile roofing to cast to rise 2.7 percent per Asia/Pacific grow the fastest annum through 2008 to 35% nearly seven billion square Tile roofing was the second meters, with a value of largest product segment in almost US$48 billion. 2003, with clay tiles and Gains will be supported by concrete tiles each with an upswing in residential Western demand in excess of 600 and nonresidential building Europe million square meters. construction in the develop- 14% Demand for tile roofing is ing countries of Asia and forecast to expand almost Eastern Europe. Demand Rest of World 13% four percent per year for roofing in China is photo courtesy of through 2008. Growth will forecast to advance at an American Roofing Supply, Inc. accelerate from that of the above average annual 1998-2003 period, fueled pace through 2008. Rising In contrast to developing Bituminous roofing by increased building incomes in other develop- regions, growth in demand construction activity in ing countries in Asia, such to remain dominant for roofing in industrialized developing countries. as Malaysia and Thailand, countries will be much Bituminous roofing consti- Gains in Western Europe, will bolster residential more muted, with expan- tuted the largest product the second largest regional applications of roofing sion projected at less than segment in 2003, bolstered market for tile roofing after materials in conjunction two percent annually by the prominence of the the Asia/Pacific region, will with the construction of through 2008. The maturity material in the large North be below the world average new housing. of the building infrastruc- American market. Bitumi- but will reverse declines of ture in many of these nous shingles dominate in the 1998 to 2003 period. Eastern Europe is also countries means that US and Canadian steep- expected to enjoy growth in reroofing accounts for a slope applications, and demand for roofing materi- higher share of demand. In Study coverage these two countries als in excess of the global the country with the largest account for more than This 374-page Freedonia average. Strong new single roofing market, the three-quarters of worldwide industry study, World residential construction will US, a rebound in nonresi- demand for the product. In Roofing, is available for generate opportunities for dential construction activity low-slope uses, built-up $5100. It provides historical roofing installations. from the doldrums of the roofing and modified demand data (1993, 1998, Residential reroofing early 2000s will aid de- bitumen membranes have 2003) and forecasts to demand will also be strong mand for roofing, but it will more widespread popular- 2008 and 2013 by product, in Eastern Europe as be offset somewhat by a ity. The best opportunities world region and for 26 municipalities and building slowing in construction of for bituminous roofing countries. The study also owners seek to refurbish single-family housing from products are projected to presents company market buildings constructed an elevated pace that was be in developing Asian share data and profiles 32 shortly after the end of the boosted by low mortgage countries and Eastern industry competitors. Second World War. interest rates. Visit www.freedoniagroup.com for tables of contents & complete text & tables Table of Contents, WESTERN EUROPE Eastern Europe ...... 188 List of Tables & Charts Western Europe ...... 78 Table - Roofing Demand by Market.... 191 Table - Roofing Demand by Market...... 80 Table - Roofing Demand & Supply ..... 192 Table - Roofing Demand & Supply ...... 82 Chart - Eastern Europe Roofing Introduction Chart - Western Europe Roofing Demand by Product, 2003 ...... 193 EXECUTIVE SUMMARY Demand by Product, 2003 ...... 83 Russia ...... 193 Summary Table ...... 3 Germany ...... 83 Table - Roofing Demand by Market.... 195 MARKET ENVIRONMENT Table - Roofing Demand by Market...... 85 Table - Roofing Demand & Supply ..... 197 General...... 4 Table - Roofing Demand & Supply ...... 87 Poland ...... 197 World Economic Overview...... 5 France ...... 88 Table - Roofing Demand by Market.... 200 Recent Historical Trends ...... 5 Table - Roofing Demand by Market...... 90 Table - Roofing Demand & Supply ..... 202 Macroeconomic Outlook ...... 7 Table - Roofing Demand & Supply ...... 92 Czech Republic ...... 202 Table - World Gross Domestic Product United Kingdom...... 93 Table - Roofing Demand by Market.... 204 by Region ...... 9 Table - Roofing Demand by Market...... 94 Table - Roofing Demand & Supply ..... 206 World Building Construction Expenditures ...... 9 Table - Roofing Demand & Supply ...... 97 Other Eastern Europe ...... 206 Table - World Building Construction Italy ...... 97 Table - Roofing Demand Expenditures by Region ...... 11 Table - Roofing Demand by Market...... 99 by Market & Country ...... 209 Residential Building ...... 11 Table - Roofing Demand & Supply ..... 101 Table - Roofing Demand & Supply ..... 211 Table - World Residential Construction Spain ...... 102 Africa/Mideast ...... 211 Expenditures by Region ...... 13 Table - Roofing Demand by Market.... 104 Table - Roofing Demand by Market.... 213 Nonresidential Building ...... 13 Table - Roofing Demand & Supply ..... 106 Table - Roofing Demand & Supply ..... 215 Table - World Nonresidential Building The Netherlands ...... 106 Chart - Africa/Mideast Roofing Construction Expenditures by Region14 Table - Roofing Demand by Market.... 108 Demand by Product, 2003 ...... 216 World Demographic Overview ...... 15 Table - Roofing Demand & Supply ..... 110 Turkey...... 216 Population ...... 15 Belgium ...... 110 Table - Roofing Demand by Market.... 218 Table - World Population by Region ..... 17 Table - Roofing Demand by Market.... 112 Table - Roofing Demand & Supply ..... 220 Households ...... 17 Table - Roofing Demand & Supply ..... 114 South Africa ...... 220 Table - World Households by Region ... 18 Other Western Europe...... 114 Table - Roofing Demand by Market.... 222 Legislation & Regulatory Considerations ...... 18 Table - Roofing Demand Table - Roofing Demand & Supply ..... 224 Materials & Technology Trends ...... 22 by Market & Country ...... 116 Other Africa/Mideast ...... 224 OVERVIEW Table - Roofing Demand & Supply ..... 118 Table - Roofing Demand General...... 24 ASIA/PACIFIC by Market & Country ...... 227 Regional Roofing Demand by Volume ...... 25 Asia/Pacific ...... 119 Table - Roofing Demand & Supply ..... 229 Table - World Roofing Table - Roofing Demand by Market.... 122 INDUSTRY STRUCTURE Demand by Volume ...... 27 Table - Roofing Demand & Supply ..... 123 General...... 230 Regional Roofing Demand by Value ...... 27 Chart - Asia/Pacific Roofing Industry Composition & Market Share ...... 231 Table - World Roofing Demand by Product, 2003 ...... 124 Table - Roofing Products Revenues Demand by Value ...... 29 China ...... 124 for Selected Manufacturers, 2003 ... 233 Roofing Demand by Product ...... 29 Table - Roofing Demand by Market.... 126 Chart - Roofing Products Table - World Roofing Table - Roofing Demand & Supply ..... 129 Market Share, 2003 ...... 234 Demand by Product ...... 31 Japan ...... 129 Market Leaders ...... 234 Chart - World Roofing Table - Roofing Demand by Market.... 132 Other Leading Companies ...... 236 Demand by Product, 2003 ...... 32 Table - Roofing Demand & Supply ..... 134 Manufacturing & Product Development ...... 237 Tile Roofing ...... 32 India ...... 134 Marketing & Distribution ...... 240 Table - Tile Roofing Demand by Region34 Table - Roofing Demand by Market.... 136 Mergers & Acquisitions ...... 242 Bituminous Roofing...... 34 Table - Roofing Demand & Supply ..... 138 Table - Selected Acquisitions Table - Bituminous Roofing Indonesia ...... 139 & Divestitures ...... 243 Demand by Region ...... 36 Table - Roofing Demand by Market.... 141 Cooperative Agreements ...... 244 Modified Bitumen ...... 36 Table - Roofing Demand & Supply ..... 143 Table - Selected Cooperative Shingles & Panels ...... 38 Australia ...... 143 Agreements ...... 245 Built-Up & Roll Roofing ...... 40 Table - Roofing Demand by Market.... 145 Company Profiles ...... 247 Metal Roofing ...... 42 Table - Roofing Demand & Supply ..... 147 Alfred McAlpine plc ...... 248 Table - Metal Roofing Thailand ...... 147 Berkshire Hathaway Incorporated ...... 249 Demand by Region ...... 45 Table - Roofing Demand by Market.... 150 Bitumlu Tecrit Maddeleri Sanayi ve Ticaret .... 253 Elastomeric Roofing ...... 45 Table - Roofing Demand & Supply ..... 152 BlueScope Steel Limited ...... 254 Table - Elastomeric Roofing South Korea ...... 152 ElkCorp ...... 257 Demand by Region ...... 48 Table - Roofing Demand by Market.... 155 Etex Group SA ...... 260 Plastic Roofing ...... 48 Table - Roofing Demand & Supply ..... 157 Fletcher Building Limited ...... 265 Table - Plastic Roofing Malaysia ...... 157 G-I Holdings Incorporated ...... 267 Demand by Region ...... 51 Table - Roofing Demand by Market.... 160 Icopal Group ...... 271 Other Roofing ...... 52 Table - Roofing Demand & Supply ..... 162 IKO Group ...... 275 Table - Fiber Cement & Other Roofing Taiwan ...... 162 Imerys SA ...... 281 Demand by Region ...... 55 Table - Roofing Demand by Market.... 165 Index SpA ...... 284 Roofing Production by Region...... 56 Table - Roofing Demand & Supply ..... 166 Isola as ...... 287 Table - World Roofing Other Asia/Pacific ...... 166 Isoltema SpA ...... 288 Production by Region ...... 56 Table - Roofing Demand Koramic Building Products NV ...... 289 International Trade in Roofing Products ...... 57 by Market & Country ...... 168 Kubota Corporation ...... 290 Table - World Roofing Trade Flows ..... 58 Table - Roofing Demand & Supply ..... 170 Lafarge SA ...... 291 NORTH AMERICA OTHER REGIONS Leier Holding International ...... 298 North America ...... 59 Latin America ...... 171 Lemminkainen Oyj ...... 299 Table - Roofing Demand by Market...... 61 Table - Roofing Demand by Market.... 173 Onduline SA ...... 300 Table - Roofing Demand & Supply ...... 63 Table - Roofing Demand & Supply ..... 174 Owens Corning ...... 302 Chart - North America Roofing Chart - Latin America Roofing Polyglass SpA ...... 305 Demand by Product, 2003 ...... 64 Demand by Product, 2003 ...... 175 PT Keramindo Megah Pertiwi ...... 307 United States ...... 64 Brazil ...... 175 Rautaruukki Oyj...... 308 Table - Roofing Demand by Market...... 66 Table - Roofing Demand by Market.... 177 Saint-Gobain ...... 310 Table - Roofing Demand & Supply ...... 69 Table - Roofing Demand & Supply ..... 179 Sarnafil International AG ...... 313 Canada ...... 69 Argentina ...... 179 Soprema SA ...... 316 Table - Roofing Demand by Market...... 71 Table - Roofing Demand by Market.... 182 SSAB Svenskt Stal AB ...... 319 Table - Roofing Demand & Supply ...... 73 Table - Roofing Demand & Supply ..... 183 Tajima Roofing Company Limited ...... 321 Mexico ...... 73 Other Latin America ...... 184 Trelleborg AB ...... 323 Table - Roofing Demand by Market...... 75 Table - Roofing Demand Uralita SA ...... 326 Table - Roofing Demand & Supply ...... 77 by Market & Country ...... 186 Wienerberger Baustoffindustrie AG ...... 328 Table - Roofing Demand & Supply ..... 188 Additional Roofing Industry Companies ...... 332 ASIA/PACIFIC Study #1817 - TABLE VI-17 “World Roofing” MALAYSIA -- ROOFING DEMAND BY MARKET (million square meters)
Item 1993 1998 2003 2008 2013
Population (millions) 19.2 21.7 24.0 26.2 28.3 GDP/capita 7550 8760 9960 11790 14200 ASIA/PACIFIC Gross Domestic Prdt (bil US 2000$) 145 190 239 309 402
sq m roofing/capita 0.99 0.98Lafarge 0.98is a leading 1.10 roofing 1.26 manufacturer in Asia with eight con- sq m roofing/mil $ GDP 132crete roofing 112 tile 98 plants 93in Malaysia 89 as of 2000. Kia Lim is a Malaysian COMPANY Roofing Demand by Market 19.1maker21.3 of clay23.5 roofing28.8 tiles, as35.7 is Golden Clay Industries. The latter PROFILES Residential: 10.6company,11.5 a joint 12.5 venture 15.5 with 19.7 Perbadanan Kemajuan Ekonomi Islam New 3.6 3.8 4.1 5.0 6.2 Reroofing 7.0Negeri7.7 Johor, also 8.4 exports 10.5 its 13.5clay roof tiles to more than ten countries. Presented for 32 Nonresidential: 8.5VTI Vintage9.8 is 11.0 a large 13.3 locally 16.0based concrete roof tile manufacturer. The New 3.1company 3.3 has developed 3.4 4.3 a simulated 5.3 slate tile for the upper end of the global players such Reroofing 5.4 6.5 7.6 9.0 10.7 market, which it also hopes to sell in the export market. VTI Vintage as Bluescope Steel, Source: The Freedonia Group, Inc. expects to build a third manufacturing plant by mid 2005. Etex Group, Lafarge, Malaysia: Roofing Demand & Supply Nonresidential building construction activity will support gains for In 2003, Malaysia’s leading roofingsingle-ply material wasmembrane tile, which roofing, especially for newer high-rise buildings Onduline, Sarnafil accounted for about three-eighths of totalwith roofing low-slope demand. roofs. Demand Such forinstallations will generate strong gains for tile roofing in Malaysia is forecast to expandelastomeric, nearly five plastic percent and permodified bitumen roofing at the expense of built- and Wienerberger annum through 2008 to 11.3 million squareup meters.roofing. Expenditures on new residential construction in MalaysiaSAMPLE will foster TEXTgrowth for tile roofing. Through 2008, concrete tile isExplanations projected to haveMetal faster that roofing growth will than also clay expect to see above-average growth through tile, as the lower-cost concrete tiles are a 2008more inattractive Malaysia. proposition Metal roofing for panels, for example, will make some entry-level home purchasers.support eachinroads table’sagainst tile roofing in higher-end residential installations. Malaysian producers of metal roofing include Malaysian Roofing Indus- data and tries,projections which makes treated metal panel roofing, Ajiya and Astino. CMS © Copyright by The Freedonia Group, Inc. 102 Modular Housing manufactures insulated sandwich roof panels under the ASIA/PACIFIC CMS INSUL brand name. Nylex produces metal roofing tiles. In 2000, Union Minière France established a technical center in Shah Alam with Rolform. The French company produces VM ZINC titanium zinc roofing.TABLE VI-18 MALAYSIA -- ROOFING DEMAND & SUPPLY Among other roofing materials used in Malaysia is fiber cement.(million square meters) Hume Cemboard is a Malaysian producer of fiber cement roofing panels.
Item 1993 1998 2003 2008 2013 © Copyright by The Freedonia Group, Inc. 227 Bldg Constr Expend (bil US 2000$) 13.8 15.3 16.7 21.6 28.0 sq m roofing/000$ construct 1.38 1.39 1.41 1.33 1.28 SAMPLE TABLE Roofing Demand by Product 19.1 21.3 23.5 28.8 35.7 Tile: 7.3 8.1 8.9 11.3 14.1 Clay 4.2Historical 4.6 5.0 data 6.1 for 7.8 Concrete 3.1 3.5 3.9 5.2 6.3 Bituminous: 6.41993, 7.3 19987.7 and 9.1 11.1 Built Up & Roll 4.7 5.4 5.4 5.9 6.8 Modified Bitumen 1.22003 1.2 as 1.6 well 2.3as 3.3 Freedonia’s methods involve: Shingles & Plates 0.5 0.7 0.7 0.9 1.0 Metal 1.7 1.9 2.2 2.8 3.7 Elastomeric 0.8Freedonia 0.8 1.1 forecasts 1.5 1.8 • Establishing consistent economic and Plastic 0.6 0.6 0.9 1.2 1.5 Fiber Cement 0.8to 2008 1.1 and 1.2 2013; 1.0 1.1 market forecasts Other 1.5 1.5 1.5 1.9 2.4 $/sq m 5.24data 5.16 illustrated 5.96 6.60 with 7.42 • Using input/output ratios, flow charts and Roofing Demand (mil US$) 100 110 140 190 265 the aid of over 100 other economic methods to quantify data net exports 10 5 5 5 0 Roofing Production (mil US$) 90tables 105 and 135 charts 185 265 • Employing in-house analysts who meet Source: The Freedonia Group, Inc. stringent quality standards Taiwan • Interviewing key industry participants, Taiwan has one of the more dynamic economies in the Asia/Pacific experts and end-users region, with real GDP growth averaging 4.6 percent per annum for the
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