CLEVELAND, January 12, 2022 / PRNewswire / – While asphalt shingles will continue to represent the largest share of roofing demand in the United States through 2025, a new analysis from the Freedonia Group predicts that metal products – particularly metal roofing standing seam – will experience above-average demand growth:
- In the residential and commercial markets, metal roofs will benefit from gains due to their superior resistance to severe weather events (especially uplift caused by high winds), long product life and ability to serve as a cold roof.
- In addition, an increasing number of consumers will choose a metal roof because of its advantageous aesthetics, such as its availability in a wide range of colors.
Standing seam roofing will continue to account for the largest share of the demand for metal roofing, supported by its favorable performance properties and its ability to be used as both low slope and high slope roofs. However, metal shingles, split shingles and tile will see the fastest growth in the future, driven by the increasing use of these products in the residential market, as homeowners seek more durable alternatives to shingles. ‘asphalt.
U.S. roofing demand by value will grow nearly 7% through 2025
The Freedonia Group predicts that the US demand for roofing will increase modestly until 2025, when it will total 277.8 million squares. Although demand for roofing increased rapidly in 2021 as housing starts increased and homeowners with the means to do so embark on roofing projects, demand for roofing will moderate from 2022. In addition, average earnings will be slowed by the high base in 2020.
In terms of value, demand for coverage will grow at a faster pace – 6.7% per year for $ 23.1 billion in 2025 – as consumers increasingly opt for products (usually more expensive) that offer superior performance and aesthetic properties, such as laminated asphalt shingles and metal roofing.
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Roofing, now available from the Freedonia group, analyzes the demand for roofing in the United States by product, application (new or re-roofing), market, slope (steep or low slope), type of installation (self-adhesive membranes, mechanically fixed ) and US geographic region. Demand is provided in terms of area (squares) and in terms of value (US dollars).
Demand for Roofing Products is segmented by the following products (and types):
- asphalt shingles (standard laminate, high performance laminate, three-tab)
- metal roofing (standing seam; shingles, shingles and tiles; corrugated panels and other metal roofing)
- bituminous roofing (polymer modified bitumen membranes, standard roofing felts)
- single-layer plastic cover (thermoplastic polyolefin (TPO); polyvinyl chloride (PVC); other plastic membranes)
- single-layer rubber cover (ethylene propylene diene monomer (EPDM); other rubber formulations)
- tile (concrete, terracotta and porcelain)
- wood shingles and shingles
- other small volume roofing products (spray polyurethane (SPF) foam; shingles, split shingles, and composite (polymers) / synthetic tiles; slate; liquid applied roof coatings used as primary roofing; stretch fabric; green / green roofing ; solar roof; all other roofing products)
The demand for roofs in the residential market is also analyzed by type of housing:
- single family Home
- collective housing
- prefabricated housing
The demand for commercial roofing is analyzed by type of building:
- offices, shops and housing
- transportation and others (including civic centers, courthouses, government administrative and public security facilities, post offices, agricultural facilities, and recreational facilities)
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the leading international industrial research company, providing our clients with product analyzes, market forecasts, industry trends and market share information. From individual consulting firms to global conglomerates, our analysts provide businesses with unbiased and reliable market research and analysis to help them make important business decisions. With over 100 studies published each year, we support over 90% of Fortune 500 industrial companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for a personalized search: +1 440.842.2400.
SOURCE The Freedonia Group