Roofing Market – 5 Key Facts
1, Growth in the overall market for roof covering reached c. £1.1bn in 2019. However, due to the impact of the pandemic, it is estimated there has been at least a 20% fall in market value in 2020
2, Despite Covid-19, the chronic undersupply of new homes will ensure that demand for new housing will continue to be high, while driving up demand for both tiles and flat roof membranes. However, the chronic shortage of roofers, and other ‘wet’ trades, could get worse following the UK’s exit from the EU.
3, The trend away from High Street shopping towards online retail has accelerated during the 2020/21 lockdowns. This will continue to drive up the need for more distribution centre space, in turn creating opportunities for suppliers of single ply and metal roof systems.
4, There still is under-capacity in waste treatment and recovery sector, which is driving up the need for more recycling/reprocessing and energy recovery facilities. These are important applications for metal roofing and cladding.
5, Slight recovery in demand for roofing products is forecast in 2021 with moderate annual increases of 4-6% thereafter, reflecting some improvement in confidence and the economy, with market value forecast to be return to c.£1bn by 2024.