Solid forecast for roofing tile
Roofing tile demand in the US is projected to advance 5.4% per year to just under 5.0 million squares in 2021. That’s according to a new report from the Cleveland, Ohio-based The Freedonia Group.
According to the group’s new study, New construction applications accounted for the larger share of roofing tile demand in 2016 and will continue to do so going forward, totaling 80% of the market in 2021.
Roofing tile demand plummeted during the Great Recession as housing starts fell precipitously in those parts of the US where roofing tiles are often specified, such as southern California; Las Vegas, Nevada; Phoenix, Arizona; and many parts of Florida.
In terms of material type, concrete is the material of choice. “Concrete roofing tiles dominate demand due to their lower cost and heavier weight compared to clay tiles,” said Freedonia analyst Matt Zielenski.
Freedonia described the “Leading industry players” as CertainTeed, GAF Materials and Owens Corning.