2023 Roofing Outlook
As we kick off 2023 we wanted to take a look at the factors that will impact the roofing industry this year. We feel there are going to be five major factors that will drive the roofing market. More specifically, these include the availability of labor, material, supply chain, economic conditions, technological advancements within the industry and customer demands. Each of these factors is unique in their own regard so let’s review the impact they may have.
- Availability of labor: The demand for labor continues to be at the forefront of most roofing contractor’s minds entering into 2023. Finding and maintaining skilled roofing labor is a must for contractors. Attracting and retaining the right labor requires the proper balance of pay, benefits and a strong backlog. The success of any roofing contractor is directly related to those employees installing the roof and the quality of the workmanship.
- Materials and supply chain: The outlook for material and related supply chain issues remain a key concern for 2023. The rapid escalation of roofing material prices of 2022 appears to be slowing. Material costs are expected to rise in 2023 due to both inflation and pent-up demand from 2022. Also, new roof membrane widths will be available in 2023, increasing productivity rates for contractors.
- Economic conditions: As a full service roofing contractor we are preparing for the potential headwinds associated with the predicted downturn in the economy. With this in mind we are investing heavily in our repair and service business through increases in field personnel, customer service representatives and various technology enhancements. If capital projects are put on hold, we understand your roof still needs to remain watertight. This is where repair and service work can help extend the useful life of your roof until capital funds are available for a roof replacement. It is also important to review all your options so you can reroof at the right time, not too early but before you spend too much on repairs.
- Technological advancements: Investments in roofing technology will revolve around labor efficiencies, defect identification and data capture that can be shared with clients. Properly identifying the current lifecycle stage associated with not only one roof, but a company’s entire portfolio, will help to maximize both expense and capital budgets. CentiMark has invested in and developed several tools in this regard as seen through our Portfolio Management program.
- Customer demands: Finally, as an organization we are very cognizant of what our customers are demanding. Trends point to managing and providing customized data on demand, creating a new and easily navigable digital experience and an enhanced array of customer offerings ranging from roof evaluations, corrective repair options and new roof solutions. We are focused on meeting the demands of our customers and helping to educate them so they can make the best roofing decisions for their business operations.
Throughout 2023, we look forward to helping all of you with customized roofing solutions to fit your exact facility, environmental and business needs. Let’s work together to maximize the life of your roof and keep your building watertight.
Please reach out at Contact@CentiMark.com
When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.