US Roofing Market - Focused Insights 2023-2028

US Roofing Market - Focused Insights 2023-2028

REPORT OVERVIEW

The US roofing market will be valued at around $32.89 BN in 2022 and is anticipated to witness shipments of 286.87 million square in 2022. This report provides complete information regarding consumer purchasing behavior and the adoption of roofing in the US. Asphalt is a major roofing material in the US. It accounts for more than half of the overall demand for roofing materials, largely due to its dominance in residential markets. Also, an average asphalt shingles cost is around $2,500 per 2,000 square feet. Increasing applications among sectors with a high expectancy of standards and manufacturing in the roofing market must meet regulatory standards and provide robust solutions. The residential sector dominates the roofing market. The demand is characterized by different climatic conditions, necessitating several types of roofing equipment. Furthermore, major players focus on strategic agreements, acquisitions, and collaboration with emerging players to enter the US roofing market to gain access to commercially launched products.

KEY HIGHLIGHTS:

• The key factors driving the roofing market in the region include rapid urbanization and technological advancements such as green roofs, environmentally friendly roofing materials, and the employment of drones for measurements. In addition, new construction such as smart building construction, modular construction, and building automation construction are some factors that are driving the demand for roofing in the region.
• Major players focus on designing proficient roofing systems for long-term performance in harsh weather. Such factor offers lucrative opportunity growth in the forecast period. For example, in 2020, Standard Industries launched Solaria panels, a roof-integrated solar product, which is 16% more powerful than solar-integrated roofs. In addition, these panels allow homeowners to fit more roof-integrated solar capacity in a similar amount of space.
• With the rising rainfall and snowfall in the region, building contractors are demanding high-quality roofing to lower renovation costs and increase the lifecycle of the roof. Furthermore, damage from climate conditions in the US is expected to increase the demand for roofing products such as asphalt shingles and waterproofing membranes.
• Solar roofing is a niche product compared to traditional roofing, but it’s gaining popularity and is estimated to experience exponential growth during the forecast period. The growth will be supported by California building codes that encourage the installation of solar power on structures. In addition, the falling prices of solar roofing will attract homeowners looking to reduce their utility bills and carbon footprint.
• The US market for green roofs is expected to experience significant growth during the forecast period, driven by sustainable building practices and energy-efficient solutions. This trend is likely to influence the US market, as more customers look for eco-friendly roofing solutions.
• The US roofing market is witnessing significant growth driven by factors such as growth in new construction activity, rise in renovation and remodeling projects, and increasing demand for energy-efficient roofing materials. In 2022, the US construction sector invested around $565 billion in private construction, comprising residential and commercial projects. This indicates a strong demand for roofing products across the region 

Key Vendors

• GAF
• Owens Corning
• CertainTeed
• IKO
• Westlake Corporation
• Carlisle Construction Materials
• Holcim
• Johns Manville

Other Prominent Vendors

• Atlas Roofing Corporation
• Quality Metal Roofing
• McElroy Metal
• DML USA Metal Roofing
• Eagle Roofing Products
• Sika
• MCA Clay Roof Tile

REPORT HIGHLIGHTS

MARKET & FORECAST

• Product Type (Revenue & Volume)
• Asphalts Shingles
• Bituminous Roofing
• Metal Roofing
• Single-ply Roofing
• Concrete Roofing
• Tile Roofing
• Others
• Application (Revenue & Volume)
• Re-roofing
• New Construction
• Roof Type (Revenue & Volume)
• Slope Roof
• Flat Roof
• End-User (Revenue & Volume)
• Residential
• Non-Residential

MARKET STRUCTURE

• Market Dynamics
• Competitive Landscape of US Roofing
• Key Vendors
• Other Prominent Vendors

APPENDIX

• Research Methodology
• Abbreviations
• About Arizton