Metal Roofing Sales to Increase above Market Average through 2023, According to The Freedonia Group
CLEVELAND, Dec. 2, 2019 /PRNewswire/ -- US demand for metal roofing is expected to rise 2.7% per year to 32.63 million squares in 2023. This above average rate of growth will be spurred by:
- continuing interest in the use of metal roofing as a weather-resistant alternative to such products as asphalt shingles and roofing membranes
- homeowner interest in installing metal roofing to create a more unique exterior appearance
- increasing interest in installing cool roofing materials to reduce a building's energy consumption and lower utility bills
- rising installations of prefabricated metal buildings in commercial construction applications
For more information regarding the Roofing study visit: https://www.freedoniagroup.com/industry-study/roofing-3743.htm
Standing seam roofing will continue to account for the largest share of metal roofing demand through 2023, supported by its favorable performance properties and ability to be used as both low- and steep-slope roofing. However, metal shingles, shakes, and tiles will see the fastest growth going forward, boosted by increasing use of these products in the residential market as homeowners seek more durable alternatives to asphalt shingles.
Value demand for metal roofing is expected to grow 3.9% annually to $4.2 billion in 2023. In addition to increasing unit demand, sales of metal roofing will be boosted by manufacturers' efforts to offer standing seam panels in a wider array of colors and surface patterns, which can make these products more appealing to potential customers and are typically sold at higher price points.
Contact Corinne Gangloff for an interview with the analyst Matt Zielenski.
Additional Construction & Building Products studies can be viewed here:
https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, 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. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
Press Contact:
Corinne Gangloff
+1 440.842.2400
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SOURCE The Freedonia Group
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