Tagging along on the heels of the early century construction boom, the market supply for roofing materials is expected to continue its healthy growth spurt with an anticipated value surpassing $15 billion in 2010. Heavy hurricane damage also increased demand helping the 2005 supply grow by 8% over 2004, according to Roofing Materials in the U.S., a new report from market research publisher Specialists in Business Information (SBI), a division of MarketResearch.com.
SBI projects the market will continue to see annual increases in value due in part to continued growth in the commercial real estate sector as well as in the home reconstruction and remodeling sectors.
Not surprisingly, asphalt shingles/roll roofing and sheet metal roofing will grow at the fastest rates in the immediate future as they continue to be the most familiar and inexpensive options. Indeed, asphalt shingles and coating materials dominate with 67% of the market supply. Sheet metal roofing and roof drainage equipment, currently commanding 21% of supply, are expected to see more use due to their low-maintenance versatility and formability.
Still, newer roofing systems are making inroads into the market as energy efficiency tempts as a cost-saving measure.
"With the IRS' announcement of the 'Commercial Building Tax Deduction' in 2005, building owners, lessees, and commercial contractors are finally viewing energy efficiency in a positive light," notes Tatjana Meerman, Managing Editor of SBI. "Green roof systems are gaining in popularity as are photovoltaic/solar panels as a means of renewable energy. Energy-efficient single-ply roofing is dominating in the low slope sector, and manufacturers are researching ways to offer the reflective and energy-saving properties of current white-coated membranes and shingles in color varieties."
Containing comprehensive data on U.S. shipments, imports and exports, end- use markets, purchaser demographics, and the competitive environment, Roofing Materials in the U.S. identifies key issues, regulations, and trends affecting the marketplace, and profiles major marketers along with manufacturer and retailer strategies. Priced at $3,000, this report is available from SBI by clicking: www.sbireports.comMarketResearch.com.