Metal Roofing in the US by Product, Market and Subregion
Metal Roofing to See Rising Use Because of its Resistance to Wind, Hail and Rain
NEW YORK, Oct. 30, 2017 /PRNewswire/ -- Gains will be boosted by increasing interest among home and business owners in installing durable roofing materials that can withstand uplift caused by high winds and damage caused by hailstorms and exposure to the elements. The heavy weight and durable nature of metal roofing products makes them highly resistant to the damaging effects of hurricanes and severe storms.
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Key Findings in the Metal Roofing Study:
Reroofing Older Homes with Metal Roofing to Spur Residential Demand
The residential market will see the more rapid demand gains for metal roofing through 2021. While rising housing starts will boost demand, the nation's large stock of older homes -- many of which have roofing at or near its expected lifespan -- will offer superior growth prospects. In some instances, insurers will require homeowners to replace older, less durable roofing materials with newer products -- such as steep-slope standing seam roofing -- that meet modern building codes for wind and hail resistance. In other cases, homeowners will take it upon themselves to install new roofs to enhance the exterior appearance of their residences while also reducing the need for future repairs.
Cool Roofing, Energy Efficiency to Support Metal Roofing Installations
Metal roofing demand will also be supported by strong interest in improving energy efficiency. Construction professionals are increasingly using environmentally friendly roofing materials to reduce energy consumption and lower utility bills. Light colored metal roofing can deflect sunlight and minimize heat transfer, keeping buildings -- especially in the South and West -- cooler in the summer. Insulated metal panels can be installed to prevent heat loss and keep buildings warmer in areas of the US where winter conditions are particularly harsh.
Looming Worker Shortage to Boost Use of Prefabricated Roof Panels
There is increasing concern about a lack of skilled tradespeople in construction fields -- with the roofing industry among those that will be most affected by a potential shortage of craftspeople. One way in which contractors and architects will mitigate the effects of a worker shortage will be to increase the use of prefabricated metal buildings and components -- such as roof assemblies -- in construction jobs, as these units can be quickly erected by a small work crew.
Study Coverage
This industry study presents historical sales and demand data (2006, 2011, and 2016) and forecasts for 2021 by product (standing seam, other metal panels, and tiles, shingles, and shakes), market (new commercial, commercial reroofing, and residential), and US subregion. The study also evaluates company market share and provides competitive analysis on industry participants, including BlueScope Steel, NCI Building Systems, and Nucor.
Read the full report: https://www.reportlinker.com/p05166519
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