2024 State of the Roofing Industry Report
Roofing Contractor is out this morning with their annual State of the Industry report which lists rising demand for American-made, sustainable materials, and technology among the trends shaping the industry in 2024.
In Roofing Trends in 2024, author Trent Cotney begins on a mixed note saying the supply chain issues facing roofing pros from 2020-2022 may have subsided, but inflation doesn’t appear to be easing. The price increases of roofing supplies may be easing, but they are still rising from the new baseline level set post-pandemic.
The NAHB put these pricing challenges for roofing pros in perspective last month with an analysis of all categories of building materials prices since 2019 noting that “prices (still) remain 23% above the 2019 level as the index skyrocketed 85% between 2019 and 2021.” (Source: NAHB)
"Buy American" More Than Just A Slogan
Patriotism is high on the list of roofing trends for 2024, Cotney says, thanks to federal legislation passed in 2021. The Build America, Buy America Act basically says that when the government provides money for building things like roads and bridges, the materials used to build them should be made in the United States.
The official government website says BABAA focuses on maximizing the federal government’s use of services, goods, products, and materials produced and offered in the United States. BABAA requires that all iron, steel, manufactured products, and construction materials used in federally funded projects for infrastructure must be produced in the United States.
Rising Demand for More Sustainable Roofing Materials
Next, the author points to rising homeowner demand for more sustainable materials as another roofing trend to watch in 2024.
Cotney says the demand is also coming on the commercial side from architects and building owners who don’t mind paying more upfront if the investment will mean greater efficiency and cost savings down the road.
Sustainability was one of the top trends for 2024 that we featured in last week’s post on HVACR Trends for 2024.
With more home improvement channels and websites publishing articles like this, consumer awareness of and demand for sustainable roofing materials should continue to grow in 2024 and beyond.
High Tech Roofing Materials and More Job Site Gadgets
The article concludes by offering a long list of technological innovations that are being adopted both in terms of roofing materials and on the job site to monitor performance.
Drones for roofing inspections, robotic shingle installers, self-healing roof membranes, self-cleaning roofs and “smart” roofs are just some of the innovations the author anticipates will gain more widespread use among roofing pros in 2024.
To read the full 2024 State of the Roofing Industry Report, click here.
Contact CII Today
If you own an established roofing business and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.Â