Low-slope roofing demand advanced sharply

Cleveland OH, May 1, 2023 – According to a new study by The Freedonia Group, US Low-Slope Roofing, shifts in demand for low-slope roofing can vary from year to year, determined by a number of factors – primarily related to building construction activity. These factors include:

• interest rates – low interest rates may encourage business owners to take out lines of credit often used to fund roof repair and replacement projects
• the number and types of commercial buildings erected or repaired in any given year
• the types of roofing materials most often specified by contractors and other consumers in a particular region of the US
• the roofing materials originally installed on the structure

The US has a significant number of homes and businesses with roofs that are at or near the end of their expected lifespans. Thus, age-related reroofing is the most significant driver of roofing demand in the US.

In addition, a number of other variables can affect demand for roofing in a particular year or over a short period of time, such as:

• weather conditions, especially outbreaks of severe weather that can cause widespread damage to roofs (e.g., hurricanes and tropical storms, tornadoes, hailstorms, and winter storms)
• changes and modifications to state and local building codes
• the adoption of legislation (such as the Tax Cuts and Jobs Act of 2017) that can cause a temporary increase in reroofing activity
• insurers requiring homeowners to replace older or worn roofs with newer materials that better resist severe weather on condition of maintaining coverage
• changes in the price of raw materials (e.g., asphalt, metal, lumber) that can cause the per-square cost of roofing materials to increase or decrease sharply

Low-slope roofing demand advanced sharply in 2021, marking the strongest gains for this market since 2016. This growth was spurred by multiple outbreaks of severe weather across the US.