Trade Association Coalition Completes Quarterly Market Index Survey for Reroofing

A coalition of industry trade associations representing contractors, consultants and manufacturers in the United States and Canada completed its most recent Quarterly Market Index Survey for Reroofing. The survey takes the pulse of the reroofing industry on a quarterly basis and serves as a regular barometer of the industry’s business conditions. 

New to this quarter’s survey are two indices regarding customer inquiries and project contracts across market segments. Based on a 0 to 100 scale, a score of 50 or higher on the indices suggests expansion or optimism. A score below 50 indicates contraction or pessimism.

More than 240 respondents completed the eight-question survey during a two-week period in January 2022 with 73 percent of responses coming from roofing contractors and 27 percent coming from roof consultants. Eighty-eight percent of respondents indicated that their business is primarily low slope or a blend between low slope and steep slope while 12 percent of respondents are engaged in steep slope only. 

The survey results indicate generally improving market conditions for the reroofing industry. Some topline excerpts of the survey are: 

• Forty-nine percent of respondents indicated their customer inquiries increased during the fourth quarter of 2021 compared with the same quarter in 2020. Twenty-one percent of respondents reported a decrease in customer inquiries during the same period, and 31 percent indicated no change in activity. 
• Forty-four percent of respondents reported an increase in project contracts during the fourth quarter of 2021 compared with the same quarter in 2020. Twenty-two percent of respondents reported a decrease in project contracts during the same period, and 33 percent indicated no change in activity. 
• As of January 2022, 51 percent of roofing contractors and roof consultants reported a project backlog of three months or longer compared to the 44 percent of respondents that reported a similar backlog in October 2021. 

The new indices offered the following insights:

• The customer inquiries index score is: 58.9 for the steep-slope reroofing market; 66.8 for the low-slope reroofing market; and  61.6 for the blended low- and steep-slope reroofing market. 
• The project contracts index score is: 58 for the steep-slope reroofing market;  61.6 for the low-slope reroofing market; and 61.5 for the blended low- and steep-slope reroofing market.

“This roofing coalition can support our various members and the roofing industry by understanding how the current state of the reroofing market compares to prior quarters,” said coalition member and PIMA President Justin Koscher. “The Q4 2021 report shows a strong and growing demand for reroofing services in both the steep and low slope sectors.”

The complete results of the Quarterly Market Index Survey for Reroofing are available to those who participate in the survey via an online dashboard that enables users to filter results by region and other metrics. Any contractor or consultant who wants to participate in next quarter’s brief survey can sign up for a notification at http://bit.ly/37ank7D. 

For more information about the Polyisocyanurate Insulation Manufacturers Association (PIMA), visit www.polyiso.org.