The high demand for bitumen coating is one of the key factors driving growth in the roofing market in North America. The excellent mechanical properties of bitumen make it an ideal material for waterproofing. Being water repulsive, it does not absorb water and can withstand structural movements. Furthermore, it retains these properties for an extended period and significantly contributes to a building's life. Bitumen is also known as asphalt and is widely used in waterproofing systems in residential and commercial buildings. When applied on the roof, bitumen coatings reduce the carbon footprint of houses by lowering the temperatures. These coatings are extensively used in modern buildings, low-slope roofs, ceilings, walls, roof gardens, and eco-roofing owing to their significant advantages and ability to withstand severe weather conditions.
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A major challenge that the roofing market will face in North America will be the low availability of the workforce and rising labor costs during COVID-19 outbreak. The COVID-19 pandemic severely impacted the roofing market in North America, resulting in a considerable reduction in revenues in 2020. Labor issues further aggravated the situation in the market. One of the factors is the shortage of skilled workers. According to the US Bureau of Labor Statistics, the industry is expected to need an additional 747,000 workers by 2026. According to the Associated General Contractors of America, in 2021, the average hourly earnings of workers in the construction sector surged by 3.2% to $30.73 compared to the previous year. Their wages were also 10.1% higher than the average wages in the private sector, which was $27.90 in 2020. Such factors hamper the profit margins of construction product manufacturers and pose a challenge for the Roofing Market in North America.
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Major Five Roofing Companies in North America:
- Beacon Roofing Supply Inc.
- Carlisle Companies Inc.
- CertainTeed
- Firestone Fibers and Textiles Company LLC
- GAF Materials LLC
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Roofing Market in North America Application Outlook (Revenue, USD bn, 2021-2026)
- Residential - size and forecast 2021-2026
- Non-residential - size and forecast 2021-2026
Roofing Market in North America Geography Outlook (Revenue, USD bn, 2021-2026)
- US - size and forecast 2021-2026
- Canada - size and forecast 2021-2026
- Mexico - size and forecast 2021-2026
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Related Reports on Industrials Include:
Global Roofing Panels Market: This industry research report identifies ArcelorMittal, OmniMax International, Kingspan Group, Lindab, NCI Building Systems, Palram Industries, and Rautaruukki as the key vendors in the global roofing panels market. To get extensive research insights: Download our FREE sample report
Global Roofing Tiles Market: This market research study presents a comprehensive analysis of the global roofing tiles market by type (concrete tiles and clay tiles). The key leading vendors identified in the market are Braas Monier Building Group, Etex, IKO, and Wienerberger. To get extensive research insights: Download our FREE sample report
Roofing Market in North America Scope
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.13% |
Market growth 2022-2026 |
USD 4.28 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.67 |
Regional analysis |
US, Canada, and Mexico |
Performing market contribution |
US at 61% |
Key consumer countries |
Afghanistan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Beacon Roofing Supply Inc., Carlisle Companies Inc., CertainTeed, Firestone Fibers and Textiles Company LLC, GAF Materials LLC, Johns Manville, Owens Corning, Seaman Corp., Sika AG, and The IKO Group of Companies |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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