North American Residential Roofing Market To Reach $6.6 Billion In 2016
April 05, 2012
Wellesley, Mass. – According to a new technical market research report, RESIDENTIAL ROOFING MATERIALS: THE NORTH AMERICAN MARKET (AVM070B) from BCC Research (www.bccresearch.com), the North American market for residential roofing was valued at $5 billion in 2011 and is expected to increase to $6.6 billion in 2016, a five-year compound annual growth rate (CAGR) of 5.7%.
The residential roofing market can be segmented by type of material used. LW laminate, three-tab, HW laminate, and concrete tile are the largest contributors; other materials used include wood shake, polymer composite, metal, clay tile, and slate.
The LW laminate segment, which accounts for nearly 47% of the North American roofing market, was valued at $2.3 billion in 2011 and is expected to increase at a CAGR of 5.2% to reach more than $3 billion in 2016.
The next-largest segment, three-tab, was valued at $966 million in 2011, a 19% share of the market. The segment should reach $1.2 billion in 2016, a CAGR of 4.7%.
HW laminate and concrete tile are the next-largest segments. In 2011, each was worth more than $450 million and together they account for another 19% of the market.
Each type of roofing material has benefits and drawbacks, making them suitable for various applications and installation environments. Asphalt shingles are inexpensive, easy to install, and come in a wide range of colors and styles, but they can be susceptible to mold and algae growth. Clay and concrete tiles offer excellent fire resistance and good insulation qualities, but also are moderately heavy and tend to be more expensive. Slate is highly durable, fire-resistant, and has an obvious natural appearance. It is, however, extremely heavy, expensive, and requires a knowledgeable installer.
Residential roofing is a $5 billion industry in North America that defines the livelihood of more than 25,000 roofing contractors, thousands of employees who manufacture the products, and distributors. Although hard hit by the recent economic downturn, the industry remains a vital part of the economy and an important component in achieving and maintaining the American dream of home ownership.
This report is intended to provide necessary background and reference material for individuals involved in, or potentially interested in, the North American roofing industry. This includes individuals and organizations involved in the development, formulation, manufacture, sale, and use of roofing products, and related and ancillary businesses, such as raw materials suppliers, consultants, distributors, contractors, and builders.
NORTH AMERICAN RESIDENTIAL ROOFING MARKET VALUE, 2010-2016
Source: BCC Research
Residential Roofing Materials: The North American Market( AVM070B )
Publish Date: April 2012
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