A coalition of industry trade associations representing contractors, consultants and manufacturers in the U.S. and Canada has completed its Quarterly Market Index Survey for Reroofing for the fourth quarter of 2021.
The survey is an industrywide effort spearheaded by a coalition of trade associations, including the Asphalt Roofing Manufacturers Association, Canadian Roofing Contractors Association, Chemical Fabrics & Film Association Inc., EPDM Roofing Association, International Institute of Building Enclosure Consultants, Metal Construction Association, National Roofing Contractors Association, National Women in Roofing, Polyisocyanurate Insulation Manufacturers Association, Roof Coatings Manufacturers Association and Single Ply Roofing Industry.
Survey participants included roofing contractors (73%) and roof consultants (27%). Most respondents indicated they primarily work on low-slope roof systems (47%) or provide low-slope and steep-slope roofing services (41%). All regions of the U.S. and most Canadian provinces were represented.
The survey results indicate opportunities in the reroofing industry improved during the fourth quarter of 2021 when compared with the same quarter in 2020.
Nearly half (49%) of respondents indicated their customer inquiries increased. Thirty-one percent of respondents reported no change in activity and 21% indicated a decrease in customer inquiries. Project contracts increased for 44% of respondents, 33% of respondents indicated no change in activity and 22% reported a decrease in project contracts.
Two new indices offer insight regarding customer inquiries and project contracts across market segments. The indices are based on a 0 to 100 scale. A score of 50 or higher suggests expansion or optimism; a score below 50 indicates contraction or pessimism.
- The customer inquiries index score for the steep-slope reroofing market is 58.9, the score for the low-slope reroofing market is 66.8, and the score for the blended low- and steep-slope reroofing market is 61.6.
- The project contracts index score for the steep-slope reroofing market is 58.0, the score for the low-slope reroofing market is 61.6, and the score for the blended low- and steep-slope reroofing market is 61.5.
As of January 2022, 16% of roofing contractors reported no project backlogs, 39% reported project backlogs of one to two months and 23% reported project backlogs of three to four months. Twenty-two percent of roofing contractors reported project backlogs of five months or more.
The complete results of the Quarterly Market Index Survey for Reroofing are available to those who participate in the survey via an online dashboard that enables users to filter results by region and other metrics. Any contractor or consultant who wants to participate in next quarter’s brief survey can sign up for notification at http://bit.ly/37ank7D.