CLEVELAND, Sept. 6, 2017 /PRNewswire/ -- Demand for metal roofing in commercial building construction applications is projected to advance to 19.0 million squares in 2021. The new commercial market will see the more rapid gains, bolstered by growth in office, retail, and lodging construction spending. Metal roofing will see increasing use in such structures as fast-casual restaurants and retail sites due to its durability and minimal maintenance requirements. These and other trends are presented in Metal Roofing Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The reroofing segment -- which accounted for the vast majority of commercial metal roofing demand in 2016 -- will remain the leading application for metal roofing through 2021, supported by a high level of interest in replacing older or worn roofing with more durable metal products. According to analyst Matt Zielenski, "Gains in this application will trail those of the new market, however, due to the high level of reroofing activity in 2016 and the durable nature of metal roofing compared to membrane-based materials."
Demand for metal roofing in all applications is forecast to advance 2.0% per year to 28.0 million squares in 2021, valued at $3.5 billion. In 2016, reroofing activity was at an elevated level due to a number of severe weather events that affected large swaths of the US. Metal roofing pricing will advance at a moderate pace going forward due to the increasing use of low-cost natural gas as a power source and continued access to low-cost imported raw materials.
More information about the study is available at https://www.freedoniagroup.com/industry-study/metal-roofing-in-the-us-by-product-market-and-subregion-3532.htm
Related studies include:
- #3525 Low-Slope Roofing Market in the US (July 2017)
- #3497 Roofing Distribution in the US (March 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Construction & Building Products studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group