Total demand for commercial roofing in North America was valued at $5.1 billion based on the manufacturers’ factory gate level in 2015 compared with $4.8 billion in 2013. Market growth has largely been driven by new construction but the resurgence of city development is also playing a part in increased demand.
Retrofit, Repair and Reuse Still Significant
New construction growth is projected to increase at a rate of 6% annually compared to 3% for reroofing. While a substantially higher growth rate is projected for new construction than reroofing, many buildings are being refurbished as the millennial generation returns to city dwelling. In addition, older buildings are being repurposed for offices and residences as developers find it faster and less expensive to adapt existing space than to construct new structures. This is good news for commercial roofing as it will increase the amount of roofing area put back into play for reroofing jobs. Retrofit, repair and reuse are an important sector for all of commercial construction and in commercial roofing account for nearly 75% of demand in 2015.
Low Slope Continues to Dominate
Low slope continues to maintain market share over steep slope with single-ply roofing demand growing the fastest with a 4% growth rate annually. Single-ply holds the largest share of overall demand with 45% by volume. For steep slope commercial applications, metal roofing is expected to grow slightly faster although asphalt shingles will continue to enjoy the majority share due to dominant market position and price.
Commercial Roofing 2016 draws upon interviews with nearly 400 roofing professionals and property owners and managers. This recently released fourth edition of Principia’s coverage of the commercial roofing market provides detailed analysis on the current and future state of this segment of the roofing industry.
“This somewhat fragmented industry with over 100 suppliers continues to be driven by commercial construction spending which increased 32% from 2013-2015. Principia’s evaluation of the commercial roofing market assesses how this increase in spend has influenced the roofing market, suppliers, products and ultimately future implications. In addition, our detailed voice of customer section digs deep into preferred roofing types, design and specification considerations, the purchasing process including vendor selection and key challenges facing the industry”, states Ken Jacobson, Partner at Principia.
Commercial Roofing 2016 provides a vital baseline analysis for forecasting and business planning for current and new industry participants. Using 2015 as its launch point, the report analyzes demand drivers and trends by material, construction type, distribution channel, supplier and region, providing forecasts through 2018. It also analyzes trends in current products, new product developments and technologies, and competitive materials, helping companies anticipate customer needs.