United States Roofing Market

United States Roofing Market Size:

United States roofing market size reached US$ 22.1 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 32.05 Billion by ​2032​, exhibiting a growth rate (CAGR) of 4.20% during ​2024-2032. The market is experiencing robust growth, driven by the increasing residential and commercial construction activities, rapid technological advancements in roofing materials, rising adoption of energy-efficient solutions, a growing demand for sustainable options, and supportive government regulations and incentives that promote roofing upgrades.

United States Roofing Market Analysis:

• Major Market Drivers: According to the United States roofing market report, growing residential and commercial construction activities are driving the market growth. Furthermore, technological improvements and innovations in roofing materials, such as cool roofs and impact-resistant shingles, together with the increased demand for sustainable and energy-efficient materials, are supporting the market expansion.
• Key Market Trends: Energy-efficient and sustainable roofing solutions such as solar roofs, cool roofs, and green roofs are becoming more popular, which is strengthening the market share. Furthermore, major players are increasing their product portfolios by investing in research and development (R&D) and leveraging digital technologies, such as artificial intelligence (AI) and the Internet of Things (IoT) to provide smart roofing solutions.
• Geographical Trends: The South region is dominating this market, fueled by rapid population growth, extensive construction activities, and a climate that demands durable roofing solutions. Moreover, urban areas across the U.S. are also experiencing high demand due to increased construction, with hotter southern regions favoring cool roofs and areas prone to severe weather conditions preferring impact-resistant materials.
• Competitive Landscape: The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major players operating in the industry.
• Challenges and Opportunities: The market faces challenges such as fluctuating raw material prices and the need for skilled labor. However, the growing trend of energy-efficient and sustainable roofing, government incentives for roofing upgrades, and advancements in smart roofing technologies, are presenting significant growth potential for market players.

United States Roofing Market Trends:

Increasing Residential and Commercial Construction Activities

The United States roofing market share is expanding rapidly, owing to an increase in residential and commercial construction activity. Construction expenditures in the US increased by 7.4% from the year 2022 to $1.98 trillion in 2023. Nonresidential buildings accounted for the majority of this gain, rising 17.6% year on year. The construction of office buildings, retail stores, educational institutions, and healthcare facilities has increased dramatically, which is creating the need for efficient roofing materials. Additionally, the National Association of Home Builders (NAHB) reports that private construction spending rose by 1.4% in December 2023. The 2023 annual spending on private residential construction was $864.9 billion. The growth of the housing market, which includes the construction of new homes, renovations, and remodeling projects, has significantly increased the need for roofing solutions.

Rapid Technological Advancements and Innovations in Roofing Materials

Technological advances and improvements in roofing materials have played a significant role in propelling the expansion of the United States' roofing market revenue. Manufacturers have been developing new roofing products that provide superior durability, energy efficiency, and ease of installation. For example, Sherwin-Williams coil coatings provide innovative paint solutions for metal roofing panels and accessories. These coatings provide superior durability and color retention while protecting against corrosion, ultraviolet (UV) radiation, and environmental stresses. Another notable advancement is the creation of impact-resistant shingles and roofing membranes designed to endure hail, wind, and other extreme weather events. They are designed to address typical difficulties experienced by homeowners, such as damage and wear over time. F-Wave is one of the companies that manufactures synthetic roofing shingles that are crafted to withstand harsh weather conditions, UV radiation, and other environmental factors. By integrating cutting-edge technology into their products, F-Wave also offers homeowners a smart and sustainable option for their roofing needs.

Rising Awareness and Adoption of Energy-Efficient Roofing Solutions

The growing awareness and acceptance of energy-efficient roofing solutions is dramatically increasing the United States roofing market share. Energy efficiency has become an important priority for household and commercial property owners as energy costs rise and environmental concerns grow. According to the International Energy Agency (IEA), buildings account for around 40% of worldwide energy consumption and one-third of global greenhouse gas (GHG) emissions. Energy-efficient roofing solutions not only save energy, but also help to create a sustainable and eco-friendly atmosphere. One key energy-efficient roofing solution is the installation of cool roofs. According to the Cool Roof Rating Council (CRRC), cool roofs facilitate average energy savings of 7% to 15% of total cooling costs. This technology includes light to white-colored modified bitumen membranes with reflective granules and liquid-applied roof coatings. According to the U.S. Department of Energy (DOE), light-colored roofs absorb less than 50% of incoming solar energy, while dark roofs absorb 90% or more.

United States Roofing Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on type, roof type, and application.

Breakup by Type:

• Asphalt Shingles 
• Metal
• Tiles
• Wood Shingles
• Others
   

Asphalt shingles accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes asphalt shingles, metal, tiles, wood shingles, and others. According to the report, asphalt shingles represented the largest segment.

According to the United States roofing market trends and analysis, asphalt shingles represented the largest segment due to their affordability, versatility, and widespread availability. These shingles are favored in residential roofing projects as they offer a balance of cost-effectiveness and performance that appeals to a broad range of homeowners. Moreover, they are available in a variety of colors and styles that can mimic the appearance of more expensive roofing materials, providing aesthetic flexibility. Additionally, rapid advancements in manufacturing that improve their durability, with modern asphalt shingles offering enhanced resistance to wind, impact, and algae growth, are positively impacting the United States roofing market growth.

Breakup by Roof Type:

• Flat Roof
• Slope Roof
   

A detailed breakup and analysis of the market based on the roof type have also been provided in the report. This includes flat roof and slope roof.

As per the United States roofing market forecast and outlook, flat roofs are a prominent segment in this market, especially in commercial, industrial, and multi-family residential buildings. Their design provides a practical and cost-effective solution for large buildings, offering ease of installation and maintenance. Moreover, flat roofs serve as additional functional space for heating, ventilation, and air conditioning (HVAC) systems, solar panels, or rooftop gardens, adding to their utility.

Slope roofs are characterized by their pitched design and are prevalent in residential buildings and some commercial properties. They provide excellent water drainage and enhanced aesthetic appeal. This roofing type is associated with a wide variety of materials, including asphalt shingles, metal, tiles, and wood shingles, each offering unique benefits in terms of durability, appearance, and cost. Moreover, the rising preference for slope roofs due to their longevity and ability to withstand diverse weather conditions, including heavy snowfall and rain, is promoting the United States roofing demand.

Breakup by Application:

• Residential
• Non-Residential
   

Residential represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes residential and non-residential. According to the report, residential represented the largest segment.

Residential roofing represented the largest segment, driven by robust housing construction, renovation activities, and the increasing demand for aesthetic and energy-efficient roofing solutions. Moreover, the rising prioritization among homeowners on roofing materials that offer durability, affordability, and visual appeal, leading to the widespread use of asphalt shingles, metal roofs, tiles, and wood shingles, is fueling the market growth. Besides this, the rising emphasis on sustainable and energy-efficient homes, leading to the adoption of innovative roofing technologies, such as cool roofs and solar roofing systems, is fueling the United States roofing recent opportunities and developments.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

South leads the market, accounting for the largest United States roofing market share

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West. According to the report, South represents the largest regional market for United States roofing.

Based on the United States roofing market overview and report, the southern region accounted for the largest market share, driven by a combination of rapid population growth, extensive construction activities, and favorable climate conditions. Moreover, the significant rise in residential and commercial building projects, fueled by economic development and urban expansion, is catalyzing the market growth. Additionally, the warm climate and susceptibility to severe weather events, such as hurricanes and heavy storms, have necessitated the use of durable and weather-resistant roofing solutions, such as asphalt shingles, metal roofing, and impact-resistant products.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided.
• The major United States roofing companies are focusing on several strategic initiatives to maintain and enhance their market positions. They are investing in research and development (R&D) to introduce innovative and sustainable roofing solutions. Moreover, leading players are expanding their product portfolios to include energy-efficient, durable, and eco-friendly roofing materials that cater to the evolving needs of consumers and regulatory requirements. Additionally, these companies are enhancing their distribution networks and strengthening partnerships with contractors and builders to improve market reach and customer service. Furthermore, several firms are focusing on mergers and acquisitions to expand their capabilities and market presence.

United States Roofing Market Report Scope:

Key Questions Answered in This Report:

• How has the United States roofing market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the United States roofing market?
• What is the impact of each driver, restraint, and opportunity on the United States roofing market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the United States roofing market?
• What is the breakup of the market based on the roof type?
• Which is the most attractive roof type in the United States roofing market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the United States roofing market?
• What is the competitive structure of the market?
• Who are the key players/companies in the United States roofing market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States roofing market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States roofing market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States roofing industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.