U.S. Demand for Roofing to Exceed 274 Million Squares In 2013

by bkrigbaum@solagroup.com


Demand for roofing is forecast to grow 2.4 percent per year through 2014 to
274.5 million squares, valued at $17.9 billion. While gains will be modest, they
will represent a reversal of the declines over the 2004-2009 period. Advances
will be driven by an expected rebound in housing starts from the depressed
levels in 2009. Although housing starts will remain below the level reached in
2005, the recovery will fuel above-average gains in the residential roofing
market through 2014. These and other trends are presented in Roofing, a new
study from The Freedonia Group, Inc., a Cleveland-based industry research


The residential reroofing market
will continue to account for the largest overall share of roofing demand in
2014. Total residential roofing demand accounted for just under 60 percent of
the market in 2009, with reroofing applications representing the vast majority
of residential roofing sales. Demand for roofing in the nonresidential building
construction market is forecast to remain constant through 2014. Increasing
construction expenditures in the office and commercial and institutional
construction markets will promote gains. However, a decline in demand for
roofing in the industrial construction market will offset advances.


Asphalt shingles are the most
popular roofing product owing to their dominant position in the large
residential roofing market. Demand for asphalt shingles will rise through 2014,
fueled by rebounding housing starts. Laminated asphalt shingles, which totaled
only one-third of the shingle market in 1999, are projected to account for 80
percent of asphalt shingle demand in 2014. 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 tile and other roofing
products are anticipated to see the most rapid demand gains through 2014,
reflecting the low 2009 base. Demand for roofing tile will be driven by the
rebound in housing starts and the continued increase in the population of the
West and the South regions where roofing tile is most commonly used. Demand for
green roofing products, such as composite shingles and photovoltaic roofing, is
forecast to advance more than four percent annually through 2014. Gains will be
led by rising interest in environmentally friendly roofing products that reduce
building utility costs.


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