With the economic troubles of Greece and now China filling our news feeds, it’s nice to come across good news. And let’s face it—over the last several years, particularly since 2009, there hasn’t been a whole lot of good news for roofers or the construction industry overall.
Recession Effects & A Positive Outlook
Roofing demand fell between 2009 and 2014 as nonresidential building construction spending and residential reroofing activity declined due to the recession, according to an article recently published on Building-Products.com. But this same article says U.S. demand for roofing is projected to rise 3.9 percent annually to 252 million squares in 2019, valued at $21.4 billion, according to a new Freedonia Group study.
Metal Roofing Outlook
In particular, metal roofing will see above-average demand gains through 2019. The article goes on to say metal roofing demand will be helped by its durability and ability to support solar panels used to generate electricity. Building Products also sites metal roofing systems provide additional insulation as a boost to energy savings.
New building construction activity is expected to account for increased demand for roofing through 2019. New non-residential demand will come in the areas of office and commercial construction. Demand in the institutional and industrial segments will also increase as more schools, hospitals and manufacturing sites are built, correlating to an increased demand for such low slope products as metal roofing.