Roofing Tile Demand to Grow 5.4% Annually Through 2021
October 17, 2017 (Investorideas.com Newswire) Roofing tile demand in the US is projected to advance 5.4% per year to just under 5.0 million squares in 2021. Roofing tile demand plummeted during the Great Recession as housing starts fell precipitously in those parts of the US where roofing tiles are often specified, such as southern California; Las Vegas, Nevada; Phoenix, Arizona; and many parts of Florida. Because roofing tile is more often installed on newly built homes, the recovery in new housing activity during the 2011-2016 period supported demand for roofing tile. These and other trends are presented in Roofing: US Forecasts, 15th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
New construction applications accounted for the larger share of roofing tile demand in 2016 and will continue to do so going forward, totaling 80% of the market in 2021. While most of the gains in new roofing tile demand will be due to rising new housing starts in the South and West, the market segment will see organic growth as builders in other parts of the US increasingly use roofing tiles. Some builders will specify roofing tiles for their durability and some others – particularly those serving high-end consumers – will choose roofing tiles to create structures with a more European appearance.
In terms of material type, concrete accounted for the large majority of roofing tile demand in 2016 and will continue to do so through 2021. According to analyst Matt Zielenski, "Concrete roofing tiles dominate demand due to their lower cost and heavier weight compared to clay tiles."
Roofing: US Forecasts, 15th Edition (published 09/2017, 157 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
- #3532 Metal Roofing Market in the US (August 2017)
- #3525 Low-Slope Roofing Market in the US (July 2017)
About The Freedonia Group, a division of MarketResearch.com
The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Construction & Building Products studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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