U.S. Roofing Demand to Reach More than $11 Billion
According to a study by the Freedonia Group, Cleveland, U.S. roofing demand is expected to increase nearly 2 percent annually through 2005 to 253 million squares. In terms of dollar value, demand is forecast to advance more than 3 percent per annum to $11.2 billion.
Over the forecast period, reroofing applications, which account for approximately three-quarters of U.S. demand, will provide the best opportunities. The smaller new-roofing segment will be hampered by weaker expenditures for housing and for offices and other commercial buildings compared to the 1995-2000 period. These and other trends are presented in “Roofing,” a new study from the Freedonia Group.
Gains for thermoplastic membranes are expected to exceed 5 percent annually through 2005, with thermoplastic polyolefin making inroads against built-up and elastomeric roofing. Metal roofing will benefit from improving conditions for new industrial construction.
Asphalt shingles will remain the dominant roofing material, accounting for over three-fifths of the total installed squares, although weakness in new residential construction will lead to a deceleration in demand over the forecast period. Dollar value gains for asphalt shingles will be aided by the continuing gains of the more expensive laminated shingles at the expense of the traditional three-tab shingles.
The entire report is available for $3,700 from The Freedonia Group Inc. Call 440.684.9600 or visit www.freedoniagroup.com for more information.