US roofing demand to reach $11 billion in 2007.
US roofing demand is projected to expand 1.7 percent per annum through 2007 to 256 million squares. In dollar value, demand is expected to rise 3.3 percent per year to $11 billion. In nonresidential markets, a recovery in building construction in the office and commercial segment will help boost new roofing demand. By contrast, in residential markets, reroofing applications will provide better opportunities over the forecast period. These and other trends are presented in Roofing, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.Among the various types of roofing materials, plastics and metal are expected to enjoy some of the brighter prospects. Plastic roofing will benefit from the improving outlook for nonresidential roofing. Thermoplastic polyolefin (TPO) roofing will continue its inroads against built-up and elastomeric roofing. Metal roofing will benefit from a modest rebound in industrial construction from a depressed 2002 level. In addition, the material will continue its incursion into residential applications, where modular metal panels have seen usage as alternatives to roofing tile or asphalt shingles.
Asphalt shingles will remain the dominant roofing material, representing more than three-fifths of the total installed squares. Measured in terms of dollar value, demand for asphalt shingles is expected to increase 2.5 percent annually through 2007 to $3.5 billion. Value gains for asphalt shingles will be aided by the continuing trend toward higher-value laminated shingles at the expense of the traditional three-tab shingles.
Demand for roofing used on nonresidential buildings is forecast to advance 2.3 percent per year through 2007 to 97.5 million squares. Rebounding construction activity in the office, commercial and industrial segments will boost roofing demand over the forecast period. In the residential market, gains will slow substantially from those of the 1997-2002 period, limited by a projected decline in conventional housing starts. Reroofing will offer stronger growth prospects in residential markets over the forecast period, a reversal of the 1997-2002 experience.
US ROOFING DEMAND (million squares) % Annual Growth Item 1997 2002 2007 02/97 07/02 Roofing Demand 215.6 235.0 256.0 1.7 1.7 Asphalt Shingles 131.6 145.5 155.5 2.0 1.3 Metal Roofing 16.3 18.0 21.5 2.0 3.6 Elastomeric Roofing 16.1 17.0 19.0 1.1 2.2 Built-Up Roofing 17.0 15.5 16.5 -1.8 1.3 Modified Bitumen Roofing 14.1 15.0 16.5 1.2 1.9 Plastic & Other Roofing Materials 20.5 24.0 27.0 3.2 2.4 [c] 2003 by The Freedonia Group, Inc.
Roofing (published 02/2003, 221 pages) is available for $3,900 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.
A limited license to use or reprint information from this news release is granted to you provided attribution for same--including, if possible, the price of the report--is given to The Freedonia Group, Inc. (Cleveland, OH). We would also appreciate the courtesy of receiving a copy of the article or publication in which we appear.
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| Comment: | US roofing demand to reach $11 billion in 2007. |
|---|---|
| Publication: | Research Studies - Freedonia Group |
| Geographic Code: | 1USA |
| Date: | Feb 28, 2003 |
| Words: | 539 |
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