Metal roofing is set to benefit from a shift in demand toward more durable materials. While asphalt shingles will continue to account for the largest share of U.S. roofing demand, new research from The Freedonia Group suggests metal roofing will have the most rapid growth across all categories through 2026.
The report, Roofing, projects overall demand for roofing will decline from a high 2021 base to 279.3 million squares in 2026. Demand in the short-term future will be restrained due to the high level of roofing demand in 2020 and 2021 as a result of new-home construction and home renovation popularity during the pandemic.
However, while market demand will contract, the segment will experience value gains due to a shift toward high-value products such as metal roofing and high-performance laminated shingles. Additionally, elevated prices for most products due to inflation and supply chain-related spikes in 2021 and 2022 will benefit value growth for the roofing market, according to The Freedonia Group.
According to the report, demand for metal shake, shingle, and tile roofing is forecast to increase at an average annual pace of 1.8% to 5.83 million squares in 2026. Metal will likely become more popular due to its long lifespan and resistance to uplift and leaks, an important consideration in areas subject to severe storms. The material can also reduce a home’s energy consumption through its cool roofing properties, according to The Freedonia Group.
According to the Home Innovation Research Labs’ 2022 Annual Builder Practices survey, 8% of new single-family homes started in 2021 used metal roofing. Conversely, asphalt and single-ply was used on 81% of new single-family homes started in 2021, according to the Home Innovation Research Labs.
High-performance laminated shingles are also forecast to see large demand and value growth through 2026. The Freedonia Group said the superior performance of high-performance laminated shingles compared with standard laminated and three-tab shingles will contribute to market share growth. Additionally, the product meets the more stringent weather-resistant building codes that have been adopted in coastal regions of the country.
While it remains a niche product when compared with other more traditional products in the market, solar roofing has experienced a recent increase in popularity, and The Freedonia Group projects the rise will continue through 2026. Growth for the segment will be supported by building codes in California that encourage the installation of solar power on structures and the falling prices for solar roofing. Lower prices are projected to make solar a more attractive and attainable option for homeowners looking to reduce their utility bills and carbon footprint.
The full report from The Freedonia Group, Roofing, analyzes roofing demand by product, application, slope, and geographic region. Roofing product demand is segmented in the report into product types, including asphalt shingles, metal roofing, bituminous roofing, roofing tile, and wood shingles and shakes.
