The roofing industry has faced its fair share of challenges in recent years, from pandemic-related labor and materials shortages to severe weather events that have damaged homes and businesses. However, the good news is that the market for roofing materials is not only recovering, it’s on the rise.
According to Roofing & Exteriors, the North American roofing materials market, which was valued at $29 billion in 2020, is projected to exceed $40 billion by 2027. This growth is driven in part by the continued demand for bituminous materials, such as asphalt shingles, which are known for their durability, pleasing aesthetics, high-wind resistance, and variety of styles.
Another area of growth in the roofing industry is in roofing accessories, particularly underlayment. A study from the Freedonia Group predicts that U.S. demand for roofing accessories will grow at an average rate of 3.5% annually, reaching $7.8 billion by 2025. Southern states are expected to see the most growth in this area, due to the increased risk of severe weather events such as hurricanes and tornadoes.
The global roofing market, which was estimated at nearly $80 billion in 2020, is also anticipated to see significant growth in the coming years. The Global Roofing Industry report predicts that the market will reach a valuation of over $100 billion by 2027, reflecting a 3.7% compound annual growth rate (CAGR).
One of the key drivers of this growth is the renewed interest in home improvement among homeowners. After spending extended periods of time at home during the pandemic, many people are investing in large maintenance and remodeling projects, including roof replacements.
The roofing industry is also facing changes and challenges brought about by technology and government regulations. For example, more consumers are going online to view, compare, and purchase products and services, including large purchases like a new roof. This is leading to an increased need for roofing contractors to digitize their advertising and marketing efforts. Additionally, government regulations are pushing manufacturers to develop more environmentally-friendly options for roofing materials, such as products that contain lower global warming potential.
As the roofing industry continues to experience growth and change, it’s important for companies to stay ahead of the trends and adapt to meet the needs of homeowners and contractors. At Allied Emergency Services, we understand the importance of providing high-quality products and solutions to our customers, which is why we pride ourselves on product innovation and evolution, including creating more environmentally friendly options. With our commitment to customer satisfaction and industry expertise, we are confident in our ability to continue meeting the demands of the growing roofing market. For more information on our services and products, please visit our roofing website and for more expert information on the roofing industry trends, visit https://www.atlasroofing.com/. #RoofingIndustry #RoofingTrends #AlliedEmergencyServices #InsuranceRestoration #AtlasRoofing.
