Malvern, Pa.-based Principia Consulting has released it “2016 Commercial Roofing” report, which found total demand for commercial roofing in North America was valued at $5.1 billion based on the manufacturers’ factory gate level in 2015 compared with $4.8 billion in 2013. Market growth has largely been driven by new construction but the resurgence of city development is also playing a part in increased demand.
New-construction growth is projected to increase at a rate of 6 percent annually compared to 3 percent for reroofing. While a substantially higher growth rate is projected for new construction than reroofing, many buildings are being refurbished as the millennial generation returns to city dwelling. In addition, older buildings are being repurposed for offices and residences as developers find it faster and less expensive to adapt existing space than to construct new structures. This is good news for commercial roofing as it will increase the amount of roofing area put back into play for re-roofing jobs. Retrofit, repair and reuse are an important sector for all of commercial construction and in commercial roofing account for nearly 75 percent of demand in 2015.
Low slope continues to maintain market share over steep slope with single-ply roofing demand growing the fastest with a 4 percent growth rate annually. Single ply holds the largest share of overall demand with 45 percent by volume. For steep-slope commercial applications, metal roofing is expected to grow slightly faster though asphalt shingles will continue to enjoy the majority share because of dominant market position and price.
“2016 Commercial Roofing” draws upon interviews with nearly 400 roofing professionals and property owners and managers. This fourth edition of Principia Consulting’s coverage of the commercial roofing market provides detailed analysis on the current and future state of this segment of the roofing industry. The report provides a vital baseline analysis for forecasting and business planning for current and new industry participants. Using 2015 as its launch point, the report analyzes demand drivers and trends by material, construction type, distribution channel, supplier and region, providing forecasts through 2018. It also analyzes trends in current products, new product developments and technologies, and competitive materials, helping companies anticipate customer needs.
To purchase the report or learn more about the scope and content covered, contact Brooke Cowell, Principia’s vice president of Marketing.