Cleveland 12/23/2011 4:45:23 AM
News / Business

Roofing Demand to Reach 263 Million Squares in 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 outright decline experienced between 2005 and 2010.  Advances will be driven by a rebound in building construction expenditures from a depressed 2010 base. These and other trends, including market share and product segmentation, are presented in US Roofing, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.  

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.  Roofing demand in the nonresidential market will experience modest gains, but a bright spot will be the new construction segment, which is expected to advance 7.5 percent annually through 2015.  Rebounding office and commercial and institutional construction spending will drive advances. 

Asphalt shingles hold a dominant position in the residential market and thus are the most popular roofing material.  Demand for asphalt shingles will rise over 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 total 85 percent of demand in 2015.  Demand for laminated shingles will be spurred by their superior aesthetic and performance qualities.  In the long term, increasing use of laminated shingles will constrain replacement demand, as these products can have lifespans more than twice that of conventional asphalt shingles.

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.  Light-colored tiles can also serve as cool roofing materials, helping homeowners reduce energy use.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.