Demand for residential roofing will increase at a 5% compounded annual growth rate between 2011 and 2014, adding $2 billion to the market’s value and push overall demand to $13.6 billion, the Principia group forecasts.
“Only a minor share shift is anticipated among roofing products over the next three years,” Principia’s John Calhoon said in a statement. “The combination of lower cost and improved performance is helping to drive the growth of asphalt shingles. Lifetime warranties offered on architectural asphalt shingles coupled with low installed cost will continue to support the popularity of these products. The bigger battle is among asphalt producers for share gains.”