FOR IMMEDIATE RELEASE
Date: May 17, 2022
 
CONTACT: Sara Vaughn
(847) 493-7592
svaughn@nrca.net
Trade Association Coalition Announces First Quarter Findings from Market Index Survey for Reroofing

Rosemont, Ill.—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 first quarter of 2022.

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.

Ninety percent of survey responses came from roofing contractors, and the remaining responses came from roof consultants. Most respondents indicated they primarily work on low-slope roof systems (49%) or provide low-slope and steep-slope roofing services (37%). All regions of the U.S. and most Canadian provinces were represented.

The survey results indicate opportunities in the reroofing industry improved during the first quarter of 2022 when compared with the same quarter in 2021.

Forty-six percent of respondents indicated their customer inquiries increased. Thirty-six percent of respondents reported no change in activity, and 20% indicated a decrease in customer inquiries. Project contracts increased for 46% of respondents, 32% of respondents indicated no change in activity and 22% reported a decrease in project contracts.

Additionally, two 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 55, the score for the low-slope reroofing market is 69.6, and the score for the blended low- and steep-slope reroofing market is 56.8.
  • The project contracts index score for the steep-slope reroofing market is 51.8, the score for the low-slope reroofing market is 68.4, and the score for the blended low- and steep-slope reroofing market is 57.6.

As of April 2022, 22% of respondents reported no project backlogs, 31% reported project backlogs of one to two months and 19% reported project backlogs of three to four months. Twenty-seven percent of respondents reported project backlogs of five or more months.

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 a notification at http://bit.ly/37ank7D.


###

Since 1886, the National Roofing Contractors Association has been the home for generations of entrepreneurial craftsmen and enterprises who shelter and protect America’s families and businesses and each other. Our vision is the recognition of our members as professionals and to unite the industry to that purpose. NRCA is one of the construction industry’s most respected trade associations and the voice of roofing professionals and leading authority in the roofing industry for information, education, technology and advocacy. It represents all segments of the roofing industry, including contractors; manufacturers; distributors; architects; consultants; engineers; building owners; and city, state and government agencies. For information about NRCA and its services and offerings, visit nrca.net.

Advertisement

Sponsored Link