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Study #: 3762
Individual User License: US$ 4,900
Demand for low-slope roofing is forecast to increase just under 1.0% per year to 87.0 million squares (valued at $6.2 billion) in 2023. Sales will be driven by:
the ongoing need to replace older or worn roofing materials, such as those installed as part of BURs or first-generation rubber and plastic products
increasing interest in replacing older roofing with products that can improve energy efficiency, such as cool roofing materials and vegetative roofs
healthy growth in the construction of buildings with low-slope roofs, such as offices, retail complexes, and educational facilities
However, high levels of storm activity between 2016 and 2018 contributed to above average reroofing activity during those years, which will restrain reroofing demand in the near term.
Demand for Sustainable “Green” Roofing Products Continues to Rise
The use of sustainable roofing products that lower energy consumption and curtail a building’s impact on the environment are increasing in popularity:
Cool roofing materials are increasingly specified to lower building temperatures and reduce energy costs, as well as to help building owners earn Leadership in Energy and Environmental Design (LEED) certification. Cool roofing products have been adopted especially by many states in the warmer South and West regions to improve the energy efficiency of commercial and multifamily buildings.
Demand for roofing products made with recyclable content is driven by efforts to improve the environmental footprint of a given structure as well as to earn LEED points.
Vegetative (or green) roofs are on the rise, as they can help reduce energy use and stormwater runoff, as well as help attract tenants by offering aesthetically pleasing green spaces.
Plastic Roofing Expected to See Strongest Annual Gains
Plastic roofing products, specifically TPO membranes, will continue to capture share from the larger bituminous roofing segment, boosted by these materials’ low cost and good resistance to moisture and punctures. Demand will also be supported by:
their ease of installation, which encourages contractors who are dealing with labor shortages to use these products to speed up reroofing projects and reduce potential disruption to business operations
the ability of most plastic roofing products to meet cool roofing criteria
Market Leaders Compete in Multiple Product Segments
Five companies – Carlisle Construction Materials, Cornerstone Building Brands, Firestone Building Products, GAF Materials, and Johns Manville – were the leading suppliers of low-slope roofing to the US in 2018. These companies hold leading market shares by offering a broad portfolio and participating in multiple roofing product categories, investing in preferred contractor programs to build loyalty, and maintaining a high level of brand recognition.