Study #: 3644 | Published: 01/2019 | Pages: 228 | Individual User License: US$ 5,000

Aging Housing Stock Offers Growth Prospects for Residential Roofing Professionals

US demand for residential roofing products is expected to grow 1.4% per year to 173.91 million squares in 2022. The nation’s aging housing stock will support demand advances in the reroofing market. Many homes in the US have roofs that are near or at the end of the expected product lifespans and will eventually require replacement. Homeowners will have to replace these roofs, in many cases choosing products that offer enhanced performance or aesthetic properties.

Key Findings in the Residential Roofing Study:

Asphalt Shingles Will Continue to Account for Large Share of Demand

Asphalt shingles accounted for the largest share of residential roofing demand in 2017 and will continue to do so going forward. Homeowners and roofing contractors will continue to specify asphalt shingle roofing on residences due to their low cost, their ease of installation, and the high level of consumer familiarity with the material. Laminated asphalt shingles – particularly high-performance types – will see gains in market share because of their superior weather resistance and ability to enhance the “curb appeal” of a home.

Storm-Resistant Products to See Above Average Demand Gains

The US saw a number of severe weather events in 2016 and 2017 – multiple hurricanes, widespread tornadoes and hailstorms, and winter storms – that caused widespread roof damage in many parts of the US. Homeowners and insurers had to spend millions of dollars to repair and replace roofs that were damaged or torn away by these weather events. To minimize future weather-related roof damage, consumers will increasingly specify roofing materials that are better able to withstand high winds, impacts, and prolonged exposure. Such products as laminated asphalt shingles, metal roofing, and roofing tile will increasingly be installed, especially in areas subject to frequent severe weather outbreaks.

The South Will See the Fastest Demand Growth

Demand for residential roofing products in the South is expected to advance at the most rapid pace of all US regions through 2022. Continuing population growth will spur the building of new houses and the refurbishment of existing residences, boosting demand for roofing. Furthermore, building code jurisdictions in the region are expected to upgrade these codes and mandate the use of both storm-resistant roofing and cool roofing products – such as light-colored asphalt shingles, roofing tile, and metal roofing – that reduce a home’s energy consumption and lower utility bills.

Study Coverage

This Freedonia industry study analyzes the 162 million square US residential roofing market. It presents historical sales and demand data (2007, 2012, and 2017) and forecasts for2022 and 2027 by product (asphalt shingles, metal roofing, roofing tile, wood shingles and shakes, and other products), market (new construction and reroofing), housing type (single-family, multifamily, and manufactured housing), and US Census subregion. Demand is presented in area (square) and dollar value terms. The study also evaluates factors spurring residential roofing demand, examines roofing product distribution channels, and looks at leading residential roofing product suppliers.

Products

Asphalt Shingle

Steep-slope roofing material made of one of more layers of asphalt-saturated fiberglass matting and coated with ceramic or mineral granules

Bituminous Membrane

A low-slope roofing material composed of fiberglass or organic matting saturated with one or more layers of asphalt

BUR Systems

A BUR system consists of between two and five layers of bituminous roofing membranes bonded to each other to create a multi-ply roofing system that offers enhanced resistance to moisture and punctures

Composite (Polymeric) Roofing

A steep-slope roofing material composed of plastic resins (such as polyethylene or vinyl) or rubber formed into a product that looks like slate tiles or wood shingles and shakes

Corrugated Panel Roofing

A roofing material consisting of metal, asphalt, polycarbonate, or polyvinyl chloride (PVC) panels with curved, undulating patterns on their top surface to better deflect moisture and sunlight; mechanically attached to roof substrates

Green Roofing

A low-slope roofing material – also known as vegetative roofing – consisting of a layer of soil in which plants are grown and a waterproofing membrane that keeps excess moisture from penetrating to the roof deck

Laminated Asphalt Shingle

A steep-slope roofing material consisting of multiple layers of fiberglass surfaced with asphalt and mineral or ceramic granules; these extra fiberglass plies and asphalt layers give laminated asphalt shingles more weight and resistance to weather-related damage

Liquid-Applied Roof Coatings

Low-slope roofing materials that can either serve as a structure’s primary roofing material or as a material that can extend the lifespan of an existing roof, reduce a building’s energy consumption, or minimize damage to roofs and roof decks caused by exposure to moisture, sunlight, and freeze/thaw cracking

Plastic Roofing

A low-slope roofing material consisting of a layer of plastic resins (primarily thermoplastic polyolefin or polyvinyl chloride) attached to a fiberglass or plastic backing

Roofing Tile

A steep-slope roofing material made of ready-mix concrete or clay formed into conical shapes and attached to a roof substrate

Rubber Roofing

A low-slope roofing material consisting of a layer of rubber resins (most often ethylene propylene diene monomer) attached to a fiberglass or plastic backing

Slate Roofing

A steep-slope roofing material made of slate that is cut and polished into shingles or shakes

Solar Roofing

A steep-slope roofing material that resembles asphalt shingle or roofing tile, but features integrated photovoltaic units that convert solar energy into electrical power

Standing Seam Roofing

A metal roofing type consisting of metal panels attached to each other by raising the edges of the panels and fastening them to each other

Tensioned Fabric Roofing

A low-slope roofing material consisting of sheets of plastic-coated fabric installed on top of metal poles or other supports

Three-Tab Asphalt Shingle

A steep-slope roofing material consisting of a single layer of fiberglass surfaced with oxidized asphalt and granules; each shingle is composed of three individual components, or “tabs”

Wood Shake

A steep-slope roofing material made from split logs and hewn to a particular – often rectangular – shape

Wood Shingle

A steep-slope roofing material consisting of wood sawn, or cut, from a log and formed into a particular – often rectangular – shape


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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Historical Residential Roofing Market Trends

Key Factors Affecting Demand

New Housing Trends

Weather-Related Reroofing

Roof Slope (Steep-Slope Versus Low-Slope)

Product Pricing Trends (Manufacturers' Level)

Installation Considerations

Comparative Installation Costs

Shortage of Trained Installers

Changing Residential Building Codes

Insurer Requirements

Energy Efficiency Standards

Energy Efficiency's Effect on Roofing Demand

ENERGY STAR

LEED

Cool Roofing

Solar Roofing

Residential Roofing Area Demand

Residential Roofing Value Demand

Production & Trade

Production

Trade

Effects of Tariffs on Trade

ASPHALT SHINGLES

Key Findings

Definition & Scope

Demand by Product

Demand Forecast

Laminated Asphalt Shingles

Laminated Asphalt Shingles Demand Forecast

Standard

High-Performance

Three-Tab Shingles

Demand by Market & Housing Type

Demand by Region & Subregion

Market Share

METAL ROOFING

Key Findings

Definition & Scope

Demand by Product

Demand Forecast

Standing Seam Metal Roofing

Other Metal Roofing Products

Demand by Market & Housing Type

Demand by Region & Subregion

Market Share

ROOFING TILE

Key Findings

Definition & Scope

Demand by Product

Demand Forecast

Concrete

Clay

Demand by Market & Housing Type

Demand by Region & Subregion

Market Share

WOOD SHINGLES & SHAKES

Key Findings

Definition & Scope

Demand by Product

Demand Forecast

Shingles

Shakes

Demand by Market & Housing Type

Demand by Region & Subregion

Market Share

OTHER ROOFING PRODUCTS

Key Findings

Definition & Scope

Demand Outlook

Demand by Market & Housing Type

Demand by Region & Subregion

Market Share

MARKETS

Key Findings

Residential Roofing Demand by Market

New Residential Construction

Demand Trends: Housing Starts

Demand by Product

Demand by Region & Subregion

Reroofing

Demand Trends: Age & Weather

Demand by Product

Demand by Region & Subregion

Residential Roofing Demand by Housing Type

Demand Forecast

Single-Family

Multifamily

Manufactured Housing

REGIONS & SUBREGIONS

Key Findings

Demand Outlook by Region

Northeast

Residential Roofing Demand by Subregion

New England

Middle Atlantic

Midwest

Residential Roofing Demand by Subregion

East North Central

West North Central

South

Residential Roofing Demand by Subregion

South Atlantic

East South Central

West South Central

West

Residential Roofing Demand by Subregion

Mountain

Pacific

INDUSTRY STRUCTURE

Key Findings & Industry Composition

Market Share

Distribution Overview

Distribution Channels

Leading Distributors

Key Competitive Strategies

Competitive Strategies Overview

Vertical & Horizontal Integration

New Product Development

Preferred Contractor Programs

Mergers & Acquisitions

Cooperative Agreements

Marketing

List of Industry Participants

APPENDIX

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Freedonia Group Studies

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending

Consumer Financing

Building Construction

Residential Building Construction

Housing Starts

Housing Stock

Residential Improvements & Repairs


List of Tables

OVERVIEW

Table 2-1 | Residential Roofing Demand by Slope, 2007 - 2027 (million squares)

Table 2-2 | Residential Roofing Pricing Trends, 2007 - 2027 (dollars per square)

Table 2-3 | Selected Residential Roofing Installation Costs, 2007 - 2027 (dollars per square)

Table 2-4 | Residential Roofing Demand by Product, 2007 - 2027 (million squares)

Table 2-5 | Residential Roofing Demand by Product, 2007 - 2027 (million dollars)

Table 2-6 | Residential Roofing Production & Trade, 2007 - 2027 (million dollars)

ASPHALT SHINGLES

Table 3-1 | Residential Asphalt Shingle Demand by Product, 2007 - 2027

Table 3-2 | Residential Laminated Asphalt Shingle Demand by Type, 2007 - 2027

Table 3-3 | Residential Asphalt Shingle Demand by Market & Housing Type, 2007 - 2027 (million squares)

Table 3-4 | Residential Asphalt Shingle Demand by Region & Subregion, 2007 - 2027 (million squares)

METAL ROOFING

Table 4-1 | Low- & Steep-Slope Metal Roofing: Product Differences

Table 4-2 | Residential Metal Roofing Demand by Product & Slope, 2007 - 2027 (million squares)

Table 4-3 | Residential Standing Seam Metal Roofing Demand, 2007 - 2027

Table 4-4 | Other Metal Residential Roofing Product Demand, 2007 - 2027

Table 4-5 | Residential Metal Roofing Demand by Market & Housing Type, 2007 - 2027 (million squares)

Table 4-6 | Residential Metal Roofing Demand by Region & Subregion, 2007 - 2027 (million squares)

ROOFING TILE

Table 5-1 | Residential Roofing Tile Demand by Product, 2007 - 2027 (million squares)

Table 5-2 | Residential Concrete Roofing Tile Demand, 2007 - 2027

Table 5-3 | Residential Clay Roofing Tile Demand, 2007 - 2027

Table 5-4 | Residential Roofing Tile Demand by Market & Housing Type, 2007 - 2027 (million squares)

Table 5-5 | Residential Roofing Tile Demand by Region & Subregion, 2007 - 2027 (million squares)

WOOD SHINGLES & SHAKES

Table 6-1 | Residential Wood Shingle & Shake Roofing Demand by Product, 2007 - 2027 (million squares)

Table 6-2 | Residential Wood Shingle Roofing Demand, 2007 - 2027

Table 6-3 | Residential Wood Shake Roofing Demand, 2007 - 2027

Table 6-4 | Residential Wood Shingle & Shake Roofing Demand by Market & Housing Type, 2007 - 2027 (million squares)

Table 6-5 | Residential Wood Shingle & Shake Demand by Region & Subregion, 2007 - 2027 (million squares)

OTHER ROOFING PRODUCTS

Table 7-1 | Other Residential Roofing Product Demand, 2007 - 2027

Table 7-2 | Other Residential Roofing Product Demand by Market & Housing Type, 2007 - 2027 (million squares)

Table 7-3 | Other Residential Roofing Product Demand by Region & Subregion, 2007 - 2027 (million squares)

MARKETS

Table 8-1 | Residential Roofing Demand by Market, 2007 - 2027 (million squares)

Table 8-2 | New Residential Roofing Demand by Product, 2007 - 2027 (million squares)

Table 8-3 | New Residential Roofing Demand by Region & Subregion, 2007 - 2027 (million squares)

Table 8-4 | Residential Reroofing Demand by Product, 2007 - 2027 (million squares)

Table 8-5 | Residential Reroofing Demand by Region & Subregion, 2007 - 2027 (million squares)

Table 8-6 | Residential Roofing Demand by Housing Type, 2007 - 2027 (million squares)

Table 8-7 | Single-Family Housing Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 8-8 | Multifamily Housing Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 8-9 | Manufactured Housing Roofing Demand by Market & Product, 2007 - 2027 (million squares)

REGIONS & SUBREGIONS

Table 9-1 | Residential Roofing Demand by Region & Subregion, 2007 - 2027 (million squares)

Table 9-2 | Northeast Residential Roofing Demand by Subregion, 2007 - 2027 (million squares)

Table 9-3 | New England Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-4 | Middle Atlantic Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-5 | Midwest Residential Roofing Demand by Subregion, 2007 - 2027 (million squares)

Table 9-6 | East North Central Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-7 | West North Central Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-8 | South Residential Roofing Demand by Subregion, 2007 - 2027 (million squares)

Table 9-9 | South Atlantic Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-10 | East South Central Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-11 | West South Central Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

Table 9-12 | West Residential Roofing Demand by Subregion, 2007 - 2027 (million squares)

Table 9-13 | Mountain Residential Roofing Demand by Market & Product, 2007 - 2027 (million dollars)

Table 9-14 | Pacific Residential Roofing Demand by Market & Product, 2007 - 2027 (million squares)

INDUSTRY STRUCTURE

Table 10-1 | US Residential Roofing Sales by Company, 2017 (million dollars)

Table 10-2 | Selected Acquisitions & Divestitures

Table 10-3 | Selected Cooperative Agreements

APPENDIX

Table 11-1 | Study Scope: US Geographic Regions & Subregions

Table 11-2 | Relevant Industry Codes

Table 11-3 | Relevant HS Codes

Table 11-4 | Abbreviations & Acronyms Used in Study

Table 11-5 | Macroeconomic Indicators, 2007 - 2027 (billion 2009 dollars)

Table 11-6 | Population & Households, 2007 - 2027 (million persons)

Table 11-7 | Personal Consumption Expenditures, 2007 - 2027 (billion dollars)

Table 11-8 | Consumer Financing Environment, 2007 - 2017

Table 11-9 | Building Construction Expenditures, 2007 - 2027 (billion 2009 dollars)

Table 11-10 | Residential Building Construction Expenditures, 2007 - 2027 (billion 2009 dollars)

Table 11-11 | New Housing Units & Floor Space, 2007 - 2027

Table 11-12 | Housing Stock by Type, 2007 - 2027 (million units)

Table 11-13 | Residential Improvement & Repair Expenditures, 2007 - 2027 (billion 2009 dollars)


List of Figures

EXECUTIVE SUMMARY

Figure 1-1 | US Residential Roofing Market

OVERVIEW

Figure 2-1 | Key Trends in the US Residential Roofing Market

Figure 2-2 | Historical Residential Roofing Demand by Market, 2007 - 2017 (million squares)

Figure 2-3 | Storm-Related Reroofing as a Share of Weather-Related Residential Reroofing Demand, 2007 - 2017 (percent of total)

ASPHALT SHINGLES

Figure 3-1 | Key Findings in the US Residential Asphalt Shingle Roofing Market

Figure 3-2 | Asphalt Shingles: Product Characteristics

Figure 3-3 | Laminated Asphalt Shingle Share of Residential Asphalt Shingle Area Demand, 2007 - 2027

Figure 3-4 | High-Performance Laminated Asphalt Shingles: Product Characteristics

Figure 3-5 | Residential Three-Tab Asphalt Shingle Demand, 2007 - 2022 (million squares)

Figure 3-6 | Residential Asphalt Shingle Demand by Housing Type, 2007 - 2027 (million squares)

Figure 3-7 | Asphalt Shingle Roofing Demand Share by Region, 2007 - 2027 (million squares)

Figure 3-8 | US Residential Asphalt Shingle Market Share by Company, 2017 (billion dollars)

METAL ROOFING

Figure 4-1 | Key Findings in the US Residential Metal Roofing Market

Figure 4-2 | Metal Roofing: Advantages & Disadvantages

Figure 4-3 | Standing Seam Metal Roofing: Advantages & Disadvantages

Figure 4-4 | Other Metal Roofing: Product Characteristics

Figure 4-5 |Residential Metal Roofing Demand by Housing Type, 2007 - 2027 (million squares)

Figure 4-6 | Residential Metal Roofing Demand Share by Region, 2007 - 2027 (million squares)

ROOFING TILE

Figure 5-1 | Key Trends in the US Residential Tile Roofing Market

Figure 5-2 | Roofing Tile: Advantages & Disadvantages

Figure 5-3 | Concrete Roofing Tile: Advantages & Disadvantages

Figure 5-4 | Clay Roofing Tile: Advantages & Disadvantages

Figure 5-5 | Residential Roofing Tile Demand by Housing Type, 2007 - 2027 (million squares)

Figure 5-6 | Residential Roofing Tile Demand Share by Region, 2007 - 2027 (million squares)

Figure 5-7 | US Residential Roofing Tile Sales by Company, 2017 (million dollars)

WOOD SHINGLES & SHAKES

Figure 6-1 | Key Trends in the US Residential Wood Shingle & Shake Roofing Market

Figure 6-2 | Wood Shingle & Shake Roofing: Advantages & Disadvantages

Figure 6-3 | Residential Wood Shingle & Shake Roofing Demand by Housing Type, 2007 - 2027 (million squares)

Figure 6-4 | Residential Wood Shingle & Shake Demand Share by Region, 2007 - 2027 (million squares)

OTHER ROOFING PRODUCTS

Figure 7-1 | Key Trends in the US Other Residential Roofing Products Market

Figure 7-2 | Selected Other Residential Roofing Materials: Product Characteristics

Figure 7-3 | Other Residential Roofing Product Demand by Housing Type, 2007 - 2027 (million squares)

Figure 7-4 | Other Residential Roofing Product Demand Share by Region, 2007 - 2027 (million squares)

MARKETS

Figure 8-1 | Key Trends in US Residential Roofing Markets

Figure 8-2 | New Residential Roofing Demand, 2007 - 2022 (million squares)

Figure 8-3 | Age-Related Residential Reroofing Demand, 2007 - 2022 (million squares)

Figure 8-4 | Age-Related Versus Weather-Related Reroofing Demand, 2007 - 2022 (million squares)

REGIONS & SUBREGIONS

Figure 9-1 | Key Trends in Regional US Residential Roofing Markets

Figure 9-2 | New England Residential Roofing Market

Figure 9-3 | Middle Atlantic Residential Roofing Market

Figure 9-4 | East North Central Residential Roofing Market

Figure 9-5 | West North Central Residential Roofing Market

Figure 9-6 | South Atlantic Residential Roofing Market

Figure 9-7 | East South Central Residential Roofing Market

Figure 9-8 | West South Central Residential Roofing Market

Figure 9-9 | Mountain Residential Roofing Market

Figure 9-10 | Pacific Residential Roofing Market

INDUSTRY STRUCTURE

Figure 10-1 | US Residential Roofing Market Share, 2017 (billion dollars)

Figure 10-2 |US Residential Roofing Market: Overall Leading Supplier

Figure 10-3 | US Residential Roofing Market: Second Leading Supplier

Figure 10-4 | US Residential Roofing Market: Third Leading Supplier

APPENDIX

Figure 11-1 | Annual Growth in Real GDP, 2000 - 2017, Compared to 1980 - 2005 Average (percent)

Figure 11-2 | Annual Population Growth, 2002 - 2017 (percent)

Figure 11-3 | New Housing Square Footage by Housing Type, 2002 - 2017

Figure 11-4 | Housing Stock Share by Year of Construction, 2017 (million units)


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