US demand for roofing is projected to rise 3.5 percent annually to 268 million squares in 2017, valued at $27.2 billion. This will be a rebound from the declines seen between 2007 and 2012 when roofing demand fell as a result of a steep drop in building construction. Going forward, increases in building construction activity will spur gains in roofing demand, especially for products installed on residences, such as asphalt shingles and roofing tiles. These and other trends are presented in Roofing, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
In both the residential and nonresidential markets, new building construction will drive gains. In the nonresidential market, sharp growth in office and commercial construction spending and gains in institutional and industrial construction expenditures are expected to boost low-slope roofing demand. Reroofing activity accounts for the larger share of roofing demand in the US. This was especially so in 2012, when new construction was at a depressed level and damage caused by Hurricane Sandy and other storms during that year led many home and building owners to replace damaged or torn away roofing.
Asphalt shingles accounted for the largest share of roofing demand in 2012 with 57 percent of the total, indicative of their dominant position in the residential market. Through 2017, demand for asphalt shingles is forecast to rise 4.1 percent annually, spurred by rebounding housing starts. Gains will also be boosted by continuing consumer interest in laminated asphalt shingles, which are perceived as better able to improve the appearance of a home.
Roofing tiles are expected to see the most rapid growth of all roofing products through 2017. Advances will be driven by a rebound in residential building construction activity in the West and South, where tiles are most often installed. Demand will also be supported by interest in these products because of their favorable aesthetics and ability to be used on cool roofs. Among other roofing materials, thermoplastic polyolefin (TPO) membranes will see above average growth through 2017. This material, which is installed mainly on nonresidential low-slope roofs, will see increasing use because of its low cost and ease of installation.
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US ROOFING DEMAND (million squares)
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% Annual Growth |
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Item |
2007 |
2012 |
2017 |
2007- 2012 |
2012- 2017 |
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Roofing Demand |
244.5 |
225.6 |
268.0 |
-1.6 |
3.5 |
|
Asphalt Shingles |
143.9 |
128.1 |
156.5 |
-2.3 |
4.1 |
|
Bituminous Low-Slope Roofing |
33.9 |
33.5 |
35.5 |
-0.2 |
1.2 |
|
Metal Roofing |
20.7 |
20.4 |
24.0 |
-0.3 |
3.3 |
|
Elastomeric Roofing |
18.3 |
18.4 |
20.7 |
0.1 |
2.4 |
|
Plastic Roofing |
10.7 |
11.3 |
13.7 |
1.1 |
3.9 |
|
Roofing Tile |
12.4 |
10.2 |
13.3 |
-3.8 |
5.5 |
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Other |
4.6 |
3.7 |
4.3 |
-4.3 |
3.1 |
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© 2013 by The Freedonia Group, Inc.
