The Metal Roofing Alliance and its members are constantly looking at new ways to grow our market share and grow the industry as a whole. Several recent studies indicate positive growth for the residential metal roofing industry.
While the auto industry and new home construction have struggled during the economic downturn, residential metal roofing continues to be a strong investment. It is important to note the MRA has always focused on the re-roof market, not new construction. This strategy continues to work well for the MRA as well as its members.
For example, the MRA has seen consumer leads grow significantly this year. After just the first six weeks of advertising, compared to the previous six weeks, MRA Find-A-Contractor leads increase by 93 percent. Since advertising began the week of April 13, more than 3,100 consumer leads have been passed to MRA contractors. When added to those leads from the start of the year, the total is more than 6,500.
These numbers are supported by a new report: The Remodeling Market in Transition, from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The study finds “in today’s uncertain economic environment, owners are likely to focus remodeling spending on projects that improve energy efficiency of homes, generate cost savings and maintain structural integrity.” Metal roofing meets all three of these qualifications.
The study found homeowners are shifting from high-end discretionary improvements, such as kitchen and bath upgrades, to those that maintain the efficient functioning of their home and generate cost savings, such as a new metal roof.
In addition, higher energy prices and greater environmental awareness are increasing the demand for green remodeling projects. Combined with the current tax credit, the future of the residential metal roofing market looks bright.
Given the poor economic climate, we wouldn’t have been surprised to see a decrease in metal roofing market share in early 2009, yet the opposite is true. The recently released McGraw-Hill survey showed the overall residential metal roofing market share is holding firm at 10 percent while the re-roof market share is steady at 11 percent. Residential metal roofing is one of the only markets that have seen positive growth during this economic downturn.
For more information on the: The Remodeling Market in Transition, from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, please visit: www.jchs.harvard.edu/publications/remodeling/remodeling2009/index.htm
The MRA is a coalition of metal roofing manufacturers, paint suppliers and coaters, dealers, metal producers, associations and related companies. The MRA has been building brand awareness for residential metal roofing for the last decade. Clean energy and sustainable building are the future.
For more information, please visit www.metalroofing.com.
Bill Hippard is the president of the MRA and vice president of sales at Precoat Metals.