CLEVELAND, Oct. 6, 2020 /PRNewswire/ — A new series of Freedonia Group analyses projects US roofing demand to drop over 6% in 2020 due to slowed construction activity, particularly in the commercial market. Though overall roofing sales are expected to return to normal levels as the pandemic recedes and economies re-stabilize, some roofing segments are expected to fare better than others over the longer term.
TPO Membranes Will Be an Industry Bright Spot
While the overall low-slope roofing market is expected to decline through 2024, TPO roofing membranes will be an exception to that trend, posting solid advances in demand going forward. These products will be selected by many consumers because of their low cost, ease of installation, and favorable performance properties. Furthermore, because many of these membranes are white or light in color, they meet cool roofing criteria, a key characteristic for many contractors, especially in the southern half of the US.
Use of Liquid Applied Roofing Coatings to Grow Amid Pandemic Due to Low Cost
The replacement of a roof can be an expensive project for any building owner to consider – and the outlay of such capital may have become especially daunting for some due to the COVID-19 pandemic, when many businesses lost significant revenues. Some building owners may decide that – for the time being – it is more fiscally prudent to simply rejuvenate a worn or damaged roof with a liquid-applied roof coating than to undergo full replacement. Not only are roof coatings generally less expensive than most primary roofing, they are much less costly to install.
Through 2024, US demand for liquid-applied roof coatings is expected to climb nearly 2% annually.
Want to Learn More?
US market studies Roofing, Commercial Roofing, Low-Slope Roofing, and Liquid Applied Roofing are now available from The Freedonia Group.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, 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. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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