CLEVELAND, March 23, 2017 /PRNewswire/ -- Roofing distributors' sales are forecast to advance 5.4% per year to $20 billion in 2021. Distributors will continue to account for a growing share of roofing sales as builders increasingly subcontract out roof installation jobs. Roofing distributors' sales are also supported by the nature of the reroofing segment -- most jobs are small projects that require only modest amounts of roofing. These and other trends are presented in Roofing Distribution in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The South accounted for the largest share of roofing distributors' sales with 38.7% of the market in 2016. Roofing distributors' sales in the region were boosted by increases in housing starts and existing home sales. Moreover, the South saw a number of severe weather events that caused heavy damage to roofs in that year, including:
- Winter Storm Jonas in the South Atlantic and Middle Atlantic
- outbreaks of hailstorms and severe thunderstorms across the West South Central
- several outbreaks of tornadoes and thunderstorms in the East South Central
- Hurricane Matthew, which brushed the coasts of Florida, Georgia, and South and North Carolina
Through 2021, the South and the West are forecast to see the most rapid gains in roofing distributors' sales. In the South, sales of roofing by distributors will be boosted by the region's strong projected growth in home sales. According to analyst Matt Zielenski, "Homeowners generally engage in home improvement projects -- such as the replacement of roofing -- prior to or soon after the sale of a home. Most reroofing projects are undertaken by small- and medium-sized contractors who generally purchase roofing exclusively from a distributor."
More information about the study is available at http://www.freedoniagroup.com/industry-study/roofing-distribution-market-in-the-us-by-sales-channel-market-and-product-3497.htm
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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. Construction & Building Products studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group