Dublin, April 01, 2022 (GLOBE NEWSWIRE) -- The "US Residential Roofing Market 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Although residential roofing demand in area terms is expected to expand only minimally to 183.8 million squares in 2025, demand in value terms is expected to climb at a rapid 8.2% annually to $15 billion.
This industry study analyzes the 180.7 million squares US residential roofing industry. It presents historical demand data (2010, 2015, and 2020) and forecasts (2025 and 2030) by product (asphalt shingles, metal roofing, bituminous roofing, roofing tile, wood shingles and shakes, and other roofing products), by application (new and reroofing), by housing type (single-family, multifamily, and manufactured housing) and US geographic region.
Strong growth in average prices will drive gains in value terms as:
- The prices of petroleum and related products have increased sharply (from a low 2020 base), which will drive up the price of asphalt shingles and bituminous low-slope membranes.
- Homeowners and homebuilders are choosing generally more expensive products that offer superior performance and aesthetic properties, such as laminated asphalt shingles, solar roofing, and metal roofing.
The much more modest increase in the amount of roofing actually installed is because:
- Housing starts will decline from 2022 to 2025 following a significant increase in 2021 from a high 2020 base, limiting associated roofing sales growth.
- Storm-related roof repair and replacement projects were high in 2020 due in part to multiple severe weather events - these roofs will generally not require additional work in the near term.
Smaller New Roofing Segment Will Account for the Larger Share of Overall Market Gains
While both new and reroofing demand will slow considerably from rates of the 2015-2020 period, new roofing - particularly construction of single-family homes - will account for about twice as many gains as reroofing.
Housing starts rose sharply in 2021 from an already high 2020 base as builders took advantage of people's desire to escape urban cores severely affected by COVID-19 and increased construction of homes in suburban and exurban areas. While housing starts will retreat from their high 2021 level by 2025, overall new housing activity will remain elevated, sustaining new roofing demand.
The reroofing market will continue to account for nearly 80% of the demand total, but growth through 2025 will be limited by the large number of older or worn roofs that were repaired or replaced in 2020 due to:
- The sizable amount of home improvement activity that occurred that year
- A number of severe weather events in the second half of 2020 (especially in the South) that caused widespread roof damage
Metal Roofing, Solar Roofing, & Roofing Tile Will Post the Largest Demand Increases
Metal roofing, solar roofing, and roofing tile are types of roofing products that will see the healthiest sales. Suppliers of metal roofing and roofing tile will benefit from their products' superior resistance to severe weather events (particularly uplift caused by high winds), long product lifespans, favorable aesthetics, and ability to serve as cool roofing.
Demand for solar roofing will expand at a robust rate from a small existing sales base because of California's adoption of building codes requiring nearly all newly built and substantially renovated structures to generate as much energy as they use.
Overview
- Historical Market Trends
- Supply & Demand
- Products Overview
- Area Demand
- Value Demand
- Pricing Trends
Factors Impacting Roofing Demand
- New Housing Construction Trends
- Age of Building Stock
- Weather & Climate
- Roof Slope: Low Slope or Steep Slope
- Installation Issues
- Comparative Installation Costs
- Availability of Trained Labor
- Jobsite Safety
- Evolving Building Codes
- Insurer Requirements
- Sustainability Initiatives
- Recycling & Recycled Content
- Cool Roofing
- Energy Efficiency (LEED & Energy Star)
- Roofing Product Lifespans
Companies Mentioned
- CertainTeed
- GAF Materials
- Owens Corning
For more information about this report visit https://www.researchandmarkets.com/r/ymtdiq
