December 17, 2020 - The financial pain that the COVID-19 pandemic has inflicted across much of the economy is even impacting businesses that have fared well over the past several months. As companies look to raise cash to deal with lower sales and maturing debt obligations, it is the portions of their business that have done the best during the pandemic that are worth the most. This has caused companies such as Bridgestone to consider parting with their construction-related business, Firestone Building Products, despite the ability of the roofing industry to weather the downturn better than most sectors of the economy.
This also presents an opportunity for consolidation within the roofing industry, with other roofing companies such as Carlisle and Standard Industries considered as possible acquirers.
For more information about the impact of the COVID-19 pandemic on the US roofing industry, see our series of US roofing reports: Roofing, Commercial Roofing, Residential Roofing, Low-Slope Roofing, and Liquid-Applied Roof Coatings. Freedonia Custom Research is also available for questions requiring tailored market intelligence.