Demand for Roofing Accessories Expected to Have Steady Growth Through 2023

By Karen L. Edwards, RCS Editor.

Roofing Underlayment growth will outpace other accessories, study shows.

The demand for roofing accessories in the U.S. is anticipated to experience steady growth for the next few years according to a study by The Freedonia Group. The research group forecasts that the overall demand will increase 3.6 percent each year, reaching $6.5 billion by 2023. The study analyzed U.S. roofing accessories demand by product, market, and subregion – in value terms in US dollars.

The demand will grow due to increases in overall roofing activity with underlayments having the highest growth, rising 5 percent annually to reach $1.5 billion by 2023 and 190 million squares.  Underlayment growth will be boosted by increasing residential roofing activity and the adoption of stricter building codes that will require more underlayment for added leak protection.  The rise in installations of metal roofing on low-slope roofs is also contributing to the growth of the underlayment market.

Other accessories seeing growth include fasteners, compounds, flashing, cover boards and other accessories which includes drains, vents, stacks, battens, walkways, snow guards and green roofing components. Nearly 80 percent of the demand for the current roofing market comes from the residential reroofing and commercial reroofing segments.

It would seem that with the growth in accessories, the roofing materials markets will keep pace, experiencing similar growth. The research group released a report earlier in the year that predicted the residential roofing market to experience growth through 2022. Growth opportunity products were identified as laminated asphalt shingles, metal roofing, tile and solar roofing.

According to MarketResearch.com, “consumers and contractors will gravitate toward materials known for their durability, energy efficiency and ease of installation.” These include storm-resistant roofing and energy efficient, cool roofing options.

The most recent commercial roofing study conducted by The Freedonia Group indicates growth in this segment as well, with TPO and metal roofing products seeing the most growth. They predict above average growth in office, lodging and retail and expect that manufacturer expansions will drive the growth in the commercial sector.

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