By United Asphalts.
The roofing industry has faced a few challenging years, marked by supply chain shortages and pricing increases, it seems that some sectors are finally showing signs of recovery. While the issues of the past few years will surely persist into 2023, there are still plenty of reasons to be optimistic that the roofing industry will soon flourish.
According to ABC.org, construction material prices are up 17.4% from a year ago, but there is evidence that inflation may have peaked as July saw input prices fall by 1.8%. This amount may seem insignificant on the surface, but it should yield optimism as prices fell in eight of 11 subcategories of construction materials.
Material shortages still appear to be in a constant state of flux. Some shortages, like Poly-iso, are seemingly ending while others, like plates, fasteners and low-rise foam persist far longer than anyone could predict. And with large projects cancelling or delaying, and distribution cancelling duplicate orders, manufacturers are now facing new challenges with inventory and production.
While no one can say for sure when construction economics will return to pre-pandemic conditions, many negative trends seem to be reversing course. And the roofing industry has proven itself to be quite resilient during these uncertain times, providing another reason for optimism moving forward.
We are grateful at United Asphalts that we have managed to maintain pre-pandemic order fulfillment rates amidst extreme volatility in the petroleum market. Managing increases in freight costs nationally and widespread labor shortages has been a struggle. But recently, we have been able to hold our pricing with no increases announced, which we consider very good news.
For current pricing or product information, please reach out to your regional representatives.
Original article source: United Asphalts
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