Market Trends of United States Roofing Industry
Single-Ply Roofing Products are Expected to Gain Market Share
The US roofing single-ply membrane market is expected to grow for both plastic and rubber roofing products by 2027, mainly due to the decrease in bituminous membrane market share. The advantages of single-ply over bituminous in terms of performance will be the main drivers of this market growth. The demand for plastic single-ply membranes is expected to be driven by the increasing use of self-adhesive single-ply membranes due to ease of installation, an important factor for time-strapped contractors who often work with inexperienced crews, the ability of plastic roofing membranes to be used for cool roofing purposes, and manufacturer's efforts to provide products with thicker sheets that offer improved impact and tear resistance.
According to a survey in the United States, the most popular commercial installation system in the survey was single-ply, which was used by 81% of respondents. It also generated 36% of revenue for commercial roofers. Single-ply sales were driven by 41% of contractors who installed TPO systems. EPDM followed with 30%, PVC with 17%, and KEE with 10%. On average, 48% of low slope asphalt sales were made of modified bitumen - SBS, followed by modified bitumen - APP with 27% and built-up roofing with 25%. Low-slope asphalt was used by 71% of respondents, accounting for about 10% of revenue. Contractors using single-ply roofs also indicated that they expected commercial sales to grow in 2024.
Increasing Sales of Roofing in the Commercial Sector is Expected to Drive the Market in the Future
Roofing sales increased in the commercial space again in 2023 as the economy gained traction. About three-quarters (74%) of respondents in a survey said sales increased or remained stable in 2023, while 26% said they expected sales to increase significantly compared to 2022. Another 74% said annual sales volume would increase next year, while 85% said sales would improve over the next 3 years. Another 10% said sales volume would decrease, with 4% expecting a significant drop and 7% expecting further declines in 2024 and beyond.
According to a survey, 53% expect revenues to increase slightly in 2024, and even more (68%) expect a slight increase through 2026. Geographic headquarters had little impact on the regional breakdown, and more than half (54%) of all contractors across the Northeast, Midwest, South, and West expected year-end sales growth. Around 60% of contractors across the same territory expected Y-o-Y sales growth in 2024 that would continue through 2026. 73% of contractors in the Midwest and West expected sales volume growth through 2026.
