Residential Roofing Market Will Grow Significantly Faster in Value Than Area Through 2025

CLEVELAND, March 30, 2022 /PRNewswire/ -- A new Freedonia Group analysis forecasts roofing demand in value terms to rise at an average annual pace of 8.2% through 2025, significantly outperforming area market gains:

• Advances will be spurred by both price increases and a continuing shift to higher value roofing products that are seen as offering superior performance or aesthetic properties.
• While these items are more costly, many consumers do not mind paying for them due to their longer product lifespans (reducing long-term replacement costs) and ability to enhance the "curb appeal" of a structure.

In area terms, market growth will be minimal, restricted by an anticipated decline in housing starts following a significant increase in 2021 from a high 2020 base, as well as the large amount of storm-related reroofing activity that took place in 2020; these roofs will generally not require additional work in the near term.

Asphalt Shingles to Remain Leading Product Type

Asphalt shingles will continue to account for the largest share of residential roofing demand in value terms. Consumers will keep specifying asphalt shingles due to their:

• low cost
• favorable performance and aesthetic properties
• ease of installation
• level of familiarity to many contractors

Small-Volume Roofing Products to Post Fastest Gains

However, some smaller volume products will register more rapid gains in value terms in residential roofing demand. In particular, bituminous roofing will see rising use, supported by:

• increasing housing construction in the South, where bituminous products are often specified due to their moisture resistance
• the large stock of multifamily structures with installed built-up roofing (BUR) – in most cases these buildings' roofs will be repaired by applying new membranes on top of existing roof systems

Solar roofing will also post strong advances as homeowners and homebuilders (especially in California) install these materials because of their ability to cogenerate electricity.

Want to Learn More?

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
[email protected]

SOURCE The Freedonia Group