As in most other lines of work, the commercial roofing industry has been through a series of ups and downs in 2020. The current state of the commercial roofing industry may not be what you expect, though: Roofing industry trends and predictions show a surprising amount of stability for those who work in the trade, especially given the events of the past year. Below are four commercial roofing industry trends that we can expect as we move forward into 2021.
1. Commercial Roofers Will Struggle at First To Bounce Back From COVID-19
According to market research, commercial roofers may not be as lucky as their residential roofing counterparts when it comes to snagging new jobs in 2021. Because of the pandemic, many businesses — especially small and family-owned establishments — have had to close temporarily or permanently. While these places are open, they have likely been formulating ideas for keeping their businesses afloat by recruiting new customers or patrons rather than remodeling their locations or replacing their roofs.
In addition to these small setbacks, commercial roofers also must contend with the fact that a higher than average amount of roofs were replaced or repaired in 2016-2018: This means, in short, that these roofs will not need new work within the next few years — until about 2024. If the roofs are constructed with high-quality materials, these business owners can expect that little work will need to be done on them in the near future. This is a normal trend when it comes to the ebb and flow of work availability, but this dry spell that will affect many commercial roofers coincides with the fact that there is currently less new installation and reroofing available this year due to the pandemic. Thus, businesses are expected to save on big ticket items for the next 3 years while seeking out cost saving activities and focusing on maintenance, inspections and repair.
2. Despite Setbacks, Commercial Roofing Will Remain Relatively Stable
The commercial roofing industry will likely experience a minor fall in sales due to the pandemic. With any luck, things will improve in the following years as the world begins to reopen its doors. Therefore, commercial roofers should not lose hope when it comes to booking new jobs as the overall roofing market should continue growing at a rate of about 0.2% until 2024. The backslide in commercial roofing should represent a temporary decline in production that reflects the events of 2020 rather than an ongoing trend in the industry.
3. The Market for Roofing Materials Will Continue To Grow
Good news for the economy: The market for roofing materials is expected to reach $9.7 billion worldwide by the year 2027. Currently, it’s estimated at $8.3 billion. Because COVID-19 affected the entire world, it’s important to make note of global trends and keep a watchful eye on other economies as well as our own. Within the United States, the market for commercial roofing materials is currently estimated at $2.2 billion. Around the world, the commercial roofing material markets of China, Japan, Canada, and Germany are also set to grow within the next seven-year period.
4. Sustainability and Solar Panels Are On Trend
Commercial and residential roofers alike may have noticed an uptick in clients requesting solar panels and other products and materials that increase their home’s sustainability. Corporate responsibility has also come into more of the spotlight in recent years with trends impacting global warming and climate change. Recycled roofing tiles and solar tiles, in particular, can be added to commercial roofing if the business wants to set a standard while also reducing its utility bills each month.
Using sustainable roofing methods and materials speaks to people’s current knowledge of saving energy and the fact that individual people — and businesses — can do their part to reduce toxic emissions into the air we breathe. Commercial roofers should keep this in mind, especially when revamping roofs of small businesses after the pandemic winds down. Business owners that prize sustainability may want to show that they are in touch with their clients or patrons by installing a new, sustainably sourced roof.
As a business owner, you may be concerned that recent events will keep you from managing your roof, but this is far from the truth. With over 40 years of experience, Benton Roofing is able to provide you with full-service restoration or remodeling. Contact us to learn more about our commercial roofing services, get to know our products and our values, and let us know how we can help you achieve your roofing goals for 2021.