United States Roofing Market to Generate a Revenue of US$ 39.64 Billion by 2031
๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/united-states-roofing-market
The U.S. roofing market is growing by the rising demand for roofing in the building and construction sector. The number of firms active in the world market is enormous. In order to match customer demands, these firms are raising their capital investments and placing more emphasis on R&D activities and higher-quality products. New materials, safety measures, and sustainable business practices contribute to the ongoing evolution of the U.S. roofing market. The demand for energy-efficient roofing choices is growing among homeowners, who are increasingly turning to materials like metal shingles.
The rapid population growth is causing an increase in infrastructure-building activities, which is driving the growth of the U.S. roofing market. Rapid urbanization in developing nations, rising building & construction activity worldwide, and technological developments in roofing materials are the main factors driving the global market. The amount spent on building manufacturing facilities in the U.S. has seen a startling increase. Since the end of 2021, real manufacturing construction spending has increased by half. A seasonally adjusted annual rate of US$ 1,908.4 billion was predicted for construction spending in April 2023, which is 1.2 percent more than the previously forecast US$ 1,885.0 billion in March.
Homeowners who wish to lower their carbon footprint and energy bills are emphasizing sustainability and energy efficiency. Technological development has made possible environmentally friendly roofing options, such as green roofs, which will bring lucrative growth opportunities for the U.S. market. In the summer, green roofs with flora on them can lower surface temperatures by up to 68 degrees Fahrenheit. In the U.S. green (also known as vegetative) roofing systems are anticipated to grow by 5.1% annually to US$ 207 million in 2025, with a need for 11.8 million square feet. In 2020, the U.S. green roofing market spanned 11.3 million square feet and was worth US$ 162 million.
๐๐๐ ๐๐ง๐ ๐๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐.๐. ๐๐จ๐จ๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐ญ๐จ ๐๐ญ๐ญ๐๐ข๐ง ๐๐จ๐ซ๐ ๐๐ก๐๐ง ๐๐% ๐๐๐ฏ๐๐ง๐ฎ๐
Polyvinyl Chloride (PVC) and Spray Polyurethane Foam (SPF) are the most widely utilized roofing materials in the United States. Astute Analytica estimates that these two materials made up more than 45% of the market share, with SPF dominating over 24% of the revenue and PVC coming in second with over 21%.
SPF's supremacy in the roofing market can be due to characteristics like energy efficiency, waterproofness, seamlessness, longevity, and durability. SPF has excellent insulation and energy-saving qualities that can save building heating and cooling costs.
Due to its numerous benefits, PVC roofing has also significantly increased its market share in the US. PVC is an ideal choice for commercial and industrial applications because of its excellent resistance to abrasive weather, chemicals, and fire.
๐๐๐ฌ๐ข๐๐๐ง๐ญ๐ข๐๐ฅ ๐๐๐ญ๐ข๐ฏ๐ข๐ญ๐ข๐๐ฌ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ ๐๐จ๐ซ๐ ๐ญ๐ก๐๐ง ๐๐% ๐จ๐ ๐๐๐ฏ๐๐ง๐ฎ๐
Residential activities are expected to account for more than 38% of U.S. revenue, with new independent house construction, residential roofing renovation, and the installation of separate garages and shades accounting for a sizable amount. In May 2023, privately owned housing started at a seasonally adjusted annual pace of 1,631,000. This is 5.7% higher than the May 2022 rate of 1,543,000 and 21.7% higher than the revised April estimate of 1,340,000. May 2023 saw 997,000 single-family dwelling starts, which is 18.5% more than the revised April total of 841,000.
On the other hand, the residential sector also makes significant investments in remodeling and renovation tasks, such as replacing and mending roofs. Homeowners spent an estimated US$ 330 billion on house repairs and improvements in 2021. Over US$ 300 million of that money was spent on roofs. Building individual garages and blinds also increases the need for residential roofing services. According to estimates, 63% of American households have a garage or carport.
๐๐จ๐ฉ ๐๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐จ๐ฅ๐ ๐๐๐ฌ๐ฌ ๐ญ๐ก๐๐ง ๐๐% ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
Top 11 players in the U.S. roofing market control 55% of the market revenue, which indicates intense competition in the market. In order to meet the increased demand for roofing products, roofing companies are modifying their supply chains and increasing production. With less than 10% of the market share and an established leadership position, 3M has a lot of room to develop.
A diverse international firm, 3M Co. (MMM) produces a variety of goods, including adhesives, building supplies, insulation, lubricants, tools, medical supplies, electronics components, cleaning supplies, and office supplies. The consumer division of 3M sells office supplies, products for do-it-yourself (DIY) home improvements, and other consumer goods.
Companies must concentrate on staying ahead of market trends, spending money on research and development, and growing their product portfolios to meet the needs of various consumer segments if they want to stay competitive in the U.S. roofing market. Gaining and keeping clients in this sector also depends on developing a strong distribution network and brand reputation.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐๐จ๐ซ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/industry-report/united-states-roofing-market
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ
โข 3M Company
โข Atlas Roofing Corporation
โข BASF SE
โข Berkshire Hathaway Inc.
โข Carlisle Companies Inc.
โข Certain Teed Corporation
โข Dow Chemical Company
โข Dupont de Nemours Company
โข Duro-Last Inc.
โข GAF
โข IKO Industries Ltd
โข Other Prominent Players
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ฎ๐ญ๐ฅ๐ข๐ง๐
๐๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ ๐ซ๐จ๐จ๐๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐จ๐๐ฎ๐ฌ๐๐ฌ ๐จ๐ง ๐๐จ๐จ๐ ๐๐ฒ๐ฉ๐, ๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐ฒ๐ฉ๐, ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ, ๐๐ง๐ ๐๐ง๐-๐๐ฌ๐๐ซ๐ฌ
๐๐ฒ ๐๐จ๐จ๐ ๐๐ฒ๐ฉ๐
โข Low Sloped Roofs
โข Flat Roofs
โข Pitched Roofs
๐๐ฒ ๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐ฒ๐ฉ๐
โข Metal Roofing
โข Spray Polyurethane Foam (SPF)
โข Poly Vinyl Chloride (PVC)
โข Thermoplastic Polyolefin (TPO)
โข Ethylene Propylene Diene Terpolymer (EPDM)
โข Others
๐๐ฒ ๐๐๐ซ๐ฏ๐ข๐๐๐ฌ
โข Roofing Inspection
โข Roof Repairs/Maintenance
โข Roof Restoration
โข Roof Replacement
โข Roof Installation
๐๐ฒ ๐๐ง๐-๐๐ฌ๐๐ซ๐ฌ
โข Residential
โข Healthcare
โข Educational Institutes
โข Hotels & Restaurants
โข Banks & Financial Institutions
โข Airports
โข Warehouses
โข Retail
โข Others
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/united-states-roofing-market
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Astute Analytica
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