Roofing

Freedonia Group Inc
November 1, 2011
378 Pages - SKU: FG6683015
License type:
Table of Contents Related Reports
Countries covered: United States

US demand to rise 5.7% annually through 2015
US demand for roofing is forecast to rise 5.7 percent per year to 263 million squares in 2015, valued at $24.4 billion. This pace represents a turnaround from the 6.1 percent annual declines experienced between 2005 and 2010. Advances will be driven by the rebound in building construction expenditures from their depressed 2010 base.

New homes to be fastest growing market
The new residential market will see annual demand gains of over 20 percent through 2015 as housing starts rise from their low 2010 levels. However, the residential reroofing market will continue to account for the largest share of roofing demand in 2015. Those homeowners that delayed or canceled renovation projects -- such as roof replacement -- during the 2007-2009 recession will go forward with their plans. Roofing demand in the nonresidential market will be spurred by the new construction segment, which is expected to see 7.5 percent annual gains through 2015. Rebounding office and commercial and institutional construction spending will drive advances. Increasing demand for such structures as educational and health care facilities, retail sites and office buildings will promote demand for roofing materials.

Environmentally friendly products to support growth
In both the residential and nonresidential markets, roofing demand will be supported by consumer interest in environmentally friendly products. Such items as light-colored roofing tiles and membranes, metal roofs, roofing made from recycled materials, vegetative roofs and integrated photovoltaic roofing will see increasing use. Consumers will install these roofing materials to reduce energy costs and minimize urban heat-island effects. Demand will also be supported by the efforts of state and local governments to pass laws mandating the use of these products in new and renovation construction.

Laminated asphalt shingles to gain market share
Asphalt shingles hold a dominant position in the residential market and thus are the most popular roofing material. Demand for asphalt shingles will rise nearly seven percent per year through 2015 as residential building construction expenditures rebound. Laminated asphalt shingles, which accounted for 40 percent of shingle demand in 2000, are projected to account for 85 percent of demand in 2015. Demand for laminated shingles will be spurred by their superior aesthetic and performance qualities. In the long term, the increasing use of laminated shingles will constrain replacement demand, as these products can have lifespans more than twice that of conventional asphalt shingles.

Roofing tiles to see fastest gains among other products
Among other products, roofing tiles will see the most rapid demand advances through 2015. Gains will be driven by increasing residential building construction spending in the West and South, where roofing tiles are most often installed. Growth will also be promoted by rising interest in the use of roofing tile because of its favorable aesthetics. Lightcolored tiles can also serve as cool roofing materials, helping homeowners reduce energy use.

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