Now is a very good time to be in the roofing business. A slower market during the COVID-19 lockdowns in 2020 has given way to a rapid rise in the global roofing market more recently. According to IBIS World, the global industry for roofing contractors topped $56 billion in 2022. As the world returns to a new normal, the roofing industry continues to grow. According to PR Newswire, the market should grow by more than 4% every year through 2030. That growth should result in a global market for roofing contractors that tops $155 billion in 2030.

Market Factors Affecting the Roofing Business

Just about everyone wants a stable roof over their heads. After all, a home is a safe space for most people, and a good roof helps to make the home structurally stable and safe throughout the year. The desire for a stable home and private space has helped to spur the steady growth of the global roofing industry. Homeowners have plenty of roofing service options at their disposal to boost their home's value and comfort.

Rapid urbanization is a key factor in the growth of the roofing industry. According to Our World in Data, urban centers are where most people are located, and that's where most of the new homes are needed. Those homes range from large mansions to multi-family housing that might include high-rise apartment buildings.

The construction industry is also making significant advancements that make it faster, easier, and more affordable to erect a variety of buildings. Whether the structure is to house a single family, multiple families, or maybe a place of business, they require four walls and a roof to make them work.

The construction industry has made great advancements in prefabricating the materials needed to build solid structures that are capable of lasting for many years. Walls, joists, and framing can be made into smaller pieces off-site and transported to the construction site to erect buildings much more rapidly than in the past. As urban and suburban areas expand, they require more homes and other structures, which the construction industry can provide quickly and efficiently. Those structures all need rooftops, which enables the growth of the roofing business.

Advancements in the Roofing Industry

The modern rooftop is much more advanced and faster to install than the commonly used wood and shingle roofs of yesteryear. Those types of roofs are still in use in new construction, but the modern rooftop is proving to be much more versatile. The roofing industry has created roofs that hold up better and longer against weather conditions throughout the year. They can also withstand extreme weather conditions specifically, such as extremely hot temperatures in the desert southwest or the large amounts of snowfall that are more common in the north.

Modern rooftops are better insulators, utilize green technology, and reduce noise intrusion. Homeowners and their families can enjoy a more comfortable residence that retains heat better during the winter and stays cooler during the summer. Business owners and their workers, customers, and other visitors can enjoy this as well.

Commonly Used Roofing Materials

Bituminous materials are the most-used roofing materials and are expected to outpace the growth of the use of other types of roofing materials. Bituminous shingles are more popularly known as asphalt shingles and continue to use asphalt.

The material isn't just limited to shingles. Bituminous roofing materials combine asphalt with polymerized plastic or rubber and use fiberglass as a reinforcing material. They're ideal for large roofs that are flat or have a slight slope. Most are used on commercial structures, including multi-family housing.

Growing Roofing Tile Popularity

Roofing tiles have become increasingly popular, according to Straits Research. Roofing tiles are especially useful in hotter climates where there is little snow or ice accumulation. They provide structures with a natural cooling effect by creating air space between the roof and the outdoor elements and are very good at channeling rainfall away from the roof.

Residential buildings account for significantly more roofing market share than commercial buildings. Both greatly outpace industrial buildings and will continue to do so through 2030 and beyond, according to EIN Presswire. Contact Garcia & Son Roofing & Gutters LLC today to learn more about the roofing industry or request an estimate for our exceptional roofing services. We look forward to hearing from you and getting started.