Roofing products are not particularly exciting. Compared to other lumber and building materials such as decks, windows, doors and siding that are extremely visible from the curb and offer immediate visual sizzle, roofing materials can often fail to generate consumer excitement. Still, considering that the U.S. Dept. of Commerce reported new housing starts in January 2017 of 1.25 million—up 10.5% compared to the same month last year— and that a recent report from the U.S. Census Bureau’s American Community Survey indicated that the average single-family homeowner doesn’t move from their current home for an average of 15 years (meaning that most current homeowners will be facing a reroofing project during their ownership period), roofing materials are a strong category and one that should not be ignored, especially when offered as a complete system rather than as one-off individual products.
As Alex Pecora, Residential Products Manager for CertainTeed Saint-Gobain Roofing, explains, “Most people will only buy one roof in their lifetime. We want everyone to have the best roof they can possibly get, and due to the synergies involved with the different components, a designed systems approach is the best way to build a roof.”
Strong Growth Projected
Demand and projected growth for roofing products is anticipated by Principia to be strong not just for 2017 but for the next two years as well. In 2016, 124 million squares of roofing material were sold, with architectural shingle products leading the pack at 71 million. For 2017, roofing sales are projected at 129.7 million, with the two years following projected at 135.9 million and 140.4 million respectively, with single-family homes leading the way.