Residential roofing demand was approximately $13.8 billion in 2019. According to Principia’s recently updated demand and forecast, roofing demand in 2020 is forecast to be approximately $13.7 billion in 2020—a slight decrease from 2019 due to the impact of COVID-19. Prior to the pandemic, roofing demand was forecast to be over $14 billion in 2020.
COVID-19-related impacts on residential roofing demand include:
- Roofing demand from new construction is projected to decline from 2019 to 2020 as builders pull back on new development
- Demand in regions where construction was not affected by Stay-at-Home/ Shelter-in-Place orders, such as the South, will grow faster than areas where construction was halted, such as the Middle Atlantic
More information about residential roofing demand is available for purchase in three product offerings designed to meet your specific needs Product Demand Snapshot, DemandBuilder®, and BuilderSeries®.
Check out other residential roofing insights here.