Latest Roofing Industry News & Updates

I am always searching for the newest roofing industry news. My goal is to find updates that show how big the market will grow. It’s expected to reach a huge $342.8 billion by 2033¹. This big jump makes me wonder: Are we starting a new era of building powered by new ideas and high demand?

Technology is changing the roofing world in amazing ways. We are seeing more eco-friendly materials and smart roofs¹. My research shows a big move towards being green and using advanced tech. In the U.S., money spent on fixing up roofs at home is going to be $28.2 billion in 2023. That’s a 4.5% increase from before¹. This shows that the market is strong and people believe in what the roofing industry can do.

Key Takeaways

The roofing market is set to reach a value of $342.8 billion by the end of 2033, indicating robust growth¹.
Technological advancements, such as smart roofing systems, are at the forefront of the industry’s evolution¹.
Increased property values and aging infrastructure drive market expansion, as seen in the UK’s £4.5 billion annual roofing industry valuation¹.
The U.S. residential re-roofing market reflects a healthy economy with a 4.5% increase from the previous year¹.
Australia’s booming home renovation sector, with roofing as a popular upgrade, signals a wider trend across markets¹.
As major companies like Owens Corning dominate the market, a competitive landscape persists, keeping innovation alive¹.
With a Compound Annual Growth Rate (CAGR) of 5.0% between 2024 and 2033, the roofing industry shows no signs of slowing down¹.

News and updates in the roofing industry

Major Tax Evasion Case Shakes Roofing Company

A big scandal has hit the roofing world. A major tax evasion case has shown us the bad side of one well-known company. Such wrongdoings can ruin a company’s good name. They remind everyone in the industry to keep being open and upright.

Table: U.S. Roofing Market Overview (2022-2031)

Statistic	Data	Implications
Projected Roofing Market Growth by 2031	$39.64 billion³	Increased demand for roofing materials and services
Residential Roofing Market Revenue	Over 38%³	Growth driven by new construction and renovations
Roofing Materials Market Share	SPF: >24%, PVC: >21%³	Significant dominance of SPF and PVC in the market
Major Roofing Players Market Share	Less than 55%³	Competitive market with room for growth

As Beacon continues expanding, the roofing scandal serves as a warning. Both stories shape the roofing world. They remind us of the need for honest business practices for real success.

Roofing Market Expansion and Developments

The roofing market expansion shows a strong growth path. It’s expected to jump from $197.6 billion in 2023 to $342.8 billion by 2033. This is a yearly growth rate of 5.0%¹.

There’s excitement around emerging trends in roofing. Innovations like solar tiles and green roofs are leading. They make buildings more sustainable and energy-saving. In the U.S., residential re-roofing is set to reach $28.2 billion in 2023, growing by 4.5%¹.

Looking at roofing industry developments, the UK is investing £4.5 billion yearly to update old buildings amid high property prices¹. Australia is also focusing on home improvements. Here, roofing is popular and expected to grow by 6.5%, reaching $37 billion in 2023¹.

Region	Market Size in 2020	Projected Growth by 2030	Key Growth Factors
Global	$102.4 billion	$156.0 billion	Technological advancements, urbanization
Asia-Pacific	Leading	Ongoing expansion	Urbanization, infrastructure investments
China	Leading in Asia-Pacific	Continued dominance	Income growth, urbanization, industrialization

Big names like CertainTeed, GAF, and Owens Corning hold 35%-40% of the market¹. In Asia-Pacific, growth continues strong, led by urban and infrastructural development. China shows a strong example of this trend⁴.

In the U.S., China, and Japan, companies strive for unique advantages. The U.S. has the biggest market. Japan shines with advanced robotic installations and smart roofs¹. A wide range of materials for homes and businesses, like bitumen and polycarbonate, is growing. Bituminous materials are seeing the most growth⁴.

Companies like 3M, Atlas Roofing Corporation, and Johns Manville are actively growing their market presence. They launch new products and focus on business growth. Their goal is to lead in the competitive roofing industry⁴.

Private Equity Movements in Roofing

The roofing industry is changing fast. This change is thanks to private equity firms. These firms are good at spotting where growth can happen. They see the roofing sector as perfect for making bigger and joining companies together.

Look at what happened with Roofing Corp. Soundcore Capital Partners helped them grow. They moved into big areas like Las Vegas, Southern California, and Texas. Their earnings shot up by ten times. This shows how private equity can really change a company for the better. Soundcore focuses on growing companies in areas like industrial services.

Then there’s Bertram Capital’s work with Ridgeline Roofing & Restoration. They invest in businesses that make good money. This helps these companies grow big in the Southeast U.S. Bertram has raised over $3.5 billion. They use their tech team to help Ridgeline grow even more. This shows how private equity buys can change the roofing world.

LB Capital made a big move in New Jersey and Pennsylvania. They united three family-owned roofing companies. Now, they are the third-largest in these areas. Led by Lance Bachmann’s smart business moves, this merger shows how private equity can innovate and make customers happier in local markets.

As these case studies clarify, the synergistic relationship between private equity firms and the roofing industry embodies a powerful catalyst for growth and market penetration. For businesses operating within this sector, it is critical to understand the potential impact and opportunities presented by such dynamic partnerships.

Mergers and Acquisitions Impacting Roofers

The roofing industry is always changing because of mergers and acquisitions. This is very clear in the past few years. Companies are making deals to get bigger, offer more services, and beat their competitors. Two big deals have shaken up the market. First Onsite bought ARS, and Home Depot bought SRS Distribution. These moves show how important mergers and acquisitions are in roofing.

First Onsite Enhances Customer Service with ARS Acquisition

First Onsite bought ARS to get bigger in Georgia and the Southeast. This move shows their dedication to great customer service. It’s part of the trend in roofing companies joining together to work better and improve service.

Home Depot’s Blockbuster Acquisition of SRS Distribution

The deal between Home Depot and SRS Distribution is a big one. Home Depot is now a huge player in roofing distribution. They got a big range of roofing products and materials through this deal.

Beacon, a big name in roofing, saw its sales go up by 16.8% in the fourth quarter, making $2.30 billion. Residential roofing sales jumped 20.2%, and non-residential roofing sales went up 11.4%⁵. Over the whole year, Beacon made $9.12 billion, 8.2% more than before. They also saw a small increase in the amount they sold, by about 1-2%⁵.

Mergers and acquisitions make a big impact. Beacon’s success shows how helpful joining up with other companies can be.

Beacon’s Corporate Milestones	2023 Figures
Full Year Sales	$9.12 Billion⁵
4Q Gross Margin	25.7%⁵
Operating Margin	18.6%⁵
Net Profit for Full Year	$435 Million⁵
Adjusted EBITDA	$930 Million (10.2% margin)⁵
New Locations Opened	28⁵
Branches Acquired	21⁵

GAF Energy’s Timberline Solar ES™ is a big deal in roofing⁶. It won awards for innovation and sustainability. It was also recognized for changing the energy game. GAF Energy works in over 80 countries with GAF. Their work shows how mergers and new products drive the roofing industry forward.

Both pieces of data,⁵ and⁶, help us see the role of deals and innovations in roofing. They show how these steps affect a company’s finances and place in the market.

Roofing Industry’s Distribution Network Grows

The roofing industry is witnessing big changes, especially in how products are distributed. Lately, there have been key purchases that are changing the game for big companies. This is changing where and how they operate.

ABC Supply Co. Forays into Ontario with Herman’s Supply Company Buyout

The ABC Supply Ontario buyout is a huge step. It shows the company’s plan to grow and reach more customers in Canada. By adding Herman’s Supply Company to its team, ABC Supply Co. will make its roofing distribution network stronger. They will serve more customers than before.

Beacon Targets Mountain West with Smalley & Company Purchase

Beacon is also making moves by acquiring Smalley & Company. They’re aiming to increase their presence in the Mountain West area. This Beacon Smalley & Company acquisition shows their smart planning and commitment to grow. It will lead to more growth and ways to connect with customers.

These moves in the roofing industry are part of global trends. The roofing market is expected to grow to $342.8 billion by 2033¹. This suggests a strong future with lots of new inventions. Things like smart roofs and drones for checking roofs are changing the industry¹. They make work easier and more accurate.

Rising Stars – New Offices and Awards in Roofing

The roofing business is always growing. It offers many chances for success. I’m excited to talk about new roofing places and people who have won awards. Rising Star Roofing just joined Northpoint Roofing Systems. They opened a new office in Fort Myers, Florida. This move helps them serve more people with different roofing needs⁷.

Everyone loves to see businesses grow. The opening of the new office was a big deal. Rising Star Roofing is known for helping customers no matter the weather. They are run by veterans and care about local skills and community values⁷.

There have been some amazing people winning roofing awards. One big event is NWiR Day, where an impressive 500 female roofing experts meet. Stephanie Baird from Bliss Roofing got the WORLD Veteran statue there. She has worked in roofing for 29 years and helps her community a lot, like giving a new roof to Anisa’s Place and helping Habitat for Humanity⁸. Baird’s work is very respected, just like Erica Sherman from GAF, who won the WORLD Rising Star award. Sherman started in science but now works in building science at GAF, showing how people with different backgrounds can shine in roofing⁸.

The success of Rising Star Roofing in Fort Myers shows how good they are. They focus on doing incredible work locally. They make sure their customers are happy⁷. I love seeing how the roofing industry grows and changes. It’s great to write about their big steps forward. These stories about new offices and winners of awards show how bright the future is for those in the roofing business.

Legislative Advocacy and Occupational Safety Awareness

As an advocate for the roofing industry, I see how important legislative advocacy is. It helps create a safer and more compliant work environment. The latest update from the Occupational Safety and Health Administration (OSHA) makes policies clearer. It strengthens rules for workplace inspections. Now, authorized employee representatives can be from inside the company or an external party. This ensures a wider range of representation during OSHA’s inspections⁹.

Distracted Driving Awareness in the Roofing Industry

Talking about distracted driving is key to keeping roofing workers safe. It’s dangerous for drivers and affects the company’s safety culture. I focus on promoting safety initiatives. These laws are important, especially for workers who travel a lot.

Roofing Contractors Association Takes on Workforce Development Issues

Workforce development is a big issue in roofing. We need to solve labor shortages and skill gaps. I work with others to create plans that focus on education and training. This helps keep the workforce ready for the future.

The OSH Act from 1970 requires employer and employee representatives during OSHA inspections. This ensures a thorough review of workplace safety⁹. The new rule, starting May 31, 2024, makes this process better. It helps employees without costing employers more. They can choose their representative for inspections, inside or outside the company⁹. This supports the right to a representative during such checks⁹.

OSH Act Provision	Prior Practice	Final Rule Enhancement
Employee Representation	Limited to employees of the employer	Inclusion of third-party representatives
Inspection Participation	Required employee representative chosen by the employer	Greater employee choice in representation
Cost Impact on Employers	Concerns about potential increase in costs	No additional costs or compliance burdens determined by OSHA
Statutory Rights	General right to representation	Enhanced statutory right to walkaround representative

Conclusion

The roofing market is growing fast, expected to hit $342.8 billion by 2033. This shows a stable growth rate of 5.0% from 2024 to 2033¹. It’s vital for professionals to stay updated in this evolving industry. This helps to grab new opportunities and stand out in a competitive field.

In the U.S., the demand for re-roofing homes is rising fast, aiming for $28.2 billion in 2023. This is up by 4.5% from last year¹. Overseas, the UK’s roofing market is worth £4.5 billion a year, with many roof replacements¹. Meanwhile, Australia’s home renovation, including roofing, might reach $37 billion, up by 6.5% from 2022¹. Industry pros should connect with platforms like NRCA’s RoofConnect. It links to top roofing contractors, supporting industry growth.

Staying informed is crucial in a sector full of new developments. Big companies like Owens Corning and Duro-Last Roofing own 35%-40% of the market¹. To keep up with this fast-paced industry, I commit to provide you with the latest and most insightful news. This ensures you stay ahead in the roofing business.

FAQ

What are the latest news and updates in the roofing industry?

Stay informed with the latest roofing industry news. Discover new trends, technologies, and insights here.

What expansion has Beacon made in the roofing industry?

Beacon is now in more places, helping contractors in the U.S. and Canada. This means better service and more convenience for roofing pros.

What major scandal has shaken the roofing industry?

A huge tax evasion scandal has hit the roofing world. It revealed illegal acts at a well-known roofing company. This has big effects on them and the whole industry.

What developments are occurring in the roofing market?

The roofing market is growing and seeing new developments. Stay up to date with industry trends, growth, and chances for roof professionals.

What private equity movements are taking place in the roofing industry?

Private equity firms are changing the roofing industry. They’re investing, buying, and partnering in new ways. This is changing the industry’s landscape.

What mergers and acquisitions are impacting roofers?

Find out how First Onsite is improving customer service by buying ARS. Learn how Home Depot’s purchase of SRS Distribution is creating buzz.

How is the distribution network growing in the roofing industry?

The roofing industry’s distribution network is getting bigger. ABC Supply Co. now operates in Ontario, thanks to buying Herman’s Supply Company. Beacon is expanding too, with its purchase of Smalley & Company.

What are the recent accomplishments and success stories in the roofing industry?

Let’s celebrate the roofing industry’s achievements and success. Learn about new offices and industry awards.

How is the roofing industry involved in legislative advocacy and safety awareness?

The roofing industry is pushing for better laws and safety at work. Find out about efforts to combat distracted driving and promote safety.

Why is it important to stay updated with the latest news and updates in the roofing industry?

For roofing pros, knowing the latest news is key. The industry keeps changing. Being informed helps you succeed.