Metal Roofing, Solar Roofing, & Roofing Tile Will Have the Largest Demand Increases Among Residential Roofing Products Through 2025

CLEVELAND, March 29, 2022 /PRNewswire/ -- Among residential roofing products, metal roofing, solar roofing, and roofing tile will see the healthiest sales through 2025, finds a new Freedonia Group analysis:

• Suppliers of metal roofing and roofing tile will benefit from their products' superior resistance to severe weather events (particularly uplift caused by high winds), long product lifespans, favorable aesthetics, and ability to serve as cool roofing.
• Demand for solar roofing will expand at a robust rate from a small existing sales base because of California's adoption of building codes requiring nearly all newly built and substantially renovated structures to generate as much energy as they use.

Residential Roofing Market Value to Grow Significantly Faster Than Market Area

The analysis also finds that, although residential roofing demand in area terms is expected to expand only minimally to 183.8 million squares in 2025, demand in value terms is expected to climb at a rapid 8.2% annually to $15.0 billion. Strong growth in average prices will drive gains in value terms as:

• The prices of petroleum and related products have increased sharply (from a low 2020 base), which will drive up the price of asphalt shingles and bituminous low-slope membranes.
• Homeowners and homebuilders are choosing generally more expensive products that offer superior performance and aesthetic properties, such as laminated asphalt shingles, solar roofing, and metal roofing.
• The much more modest increase in the amount of roofing actually installed is because:
• Housing starts will decline from 2022 to 2025 following a significant increase in 2021 from a high 2020 base, limiting associated roofing sales growth.
• Storm-related roof repair and replacement projects were high in 2020 due in part to multiple severe weather events – these roofs will generally not require additional work in the near term.

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Residential Roofing, now available from The Freedonia Group, analyzes US residential roofing demand by product, application (new vs. reroofing), slope (steep-slope vs. low-slope), and US geographic region. Demand is provided in both area terms (squares) and value terms (US dollars).

Roofing product demand is segmented by the following product types:

• asphalt shingles
• metal roofing
• bituminous roofing
• roofing tile
• wood shingles and shakes
• other small volume roofing products (e.g., natural slate; composite (polymer)/synthetic shingles, shakes, and tiles; solar roofing; vegetative or green roofing)
• Demand for roofing is also analyzed by housing type:
• single-family housing
• multifamily housing
• manufactured housing

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com

SOURCE The Freedonia Group