The Influence of Supply Chain Issues, Oil Price Increases, and Inflation on the Roofing Industry

Problems with the supply chain affect every sector throughout the world. And the roofing industry does not escape from this reality.

The roofing business is experiencing significant delays in project completion because of material shortages. Besides, the construction of new dwellings and workplaces has not decreased, worsening the problem.

Indeed, more projects are now being conceptualized, timetabled, and actualized. Stay tuned if you are worried about the roofing industry's supply chain suffering disruption by rising oil prices, inflation, and other costs.

Let’s see how these factors might affect your next roofing project.

The Worst Is Yet to Come for the Roofing Industry

Over 80% of roofing materials are asphalt shingles or asphalt-based products. Thus, several variables might impact your next roofing job:

• Truck driver shortage

• Flatbed truck drivers’ availability is lower (roofing materials are hauled on flatbed trucks)

• Federal rules have decreased hours-of-service rules for truck drivers

• increasing diesel prices

• Raise in oil prices

• Lack of asphalt and other related problems

As a result, projects have been delayed. Additionally, roofers and homeowners find fewer color selections and fewer materials to work with. The effects on the total price of roofing projects are now visible.

We wrote this post to shed light on how this may influence future roofing projects.

How Will This Affect My Next Roofing Job?

This article will discuss the three most troublesome factors for roofing projects in 2022:

• Higher costs in roofing materials

Do you think you may soon need a roof replacement? Contact a roofing company immediately! So far, price increases have been minimal. Thus, you can still make thousands of dollars in savings by acting quickly.

The past significant rise in asphalt shingle prices occurred right after Hurricane Katrina devastated New Orleans. Besides, by the summer of 2006, the price of a barrel of oil had risen from roughly $50 to $103.71. Consequently, the prices of asphalt shingles almost doubled between 2005 and 2006.

This data is a reminder that there is still a great window of opportunity to beat the next round of shingle price rises. We expect shingle costs to be more than double in the next year because:

- The cost of diesel fuel continues to rise with no signs of reduction.

- The lack of truck drivers does not help. Additionally, the federal government has cut the number of hours truckers can remain on the road.

• Timeline Delays and Reduced Color Options

it may be difficult for your local roofing contractor to receive the materials because of the current scarcity. Indeed, getting the roofing materials required for your new roof might take weeks or even months. Hence, roofing shingles manufacturers focus their efforts on the most popular hues.

Because of the high volume of roofing work in the building industry, most shingles produced have been in neutral tones. Construction companies prefer neutral tones, since they are more flexible for exterior designs.

Roofing companies like ours are doing everything they can to expedite the acquisition of necessary supplies and the scheduling of roof installations.

Roofing requires significant investments of money and time. Therefore, nobody wants to take just what is offered! Nobody wants to be forced to settle with a boring and uninspired neutral shade over the next 30 years!

However, these issues, and others, will, unfortunately, persist for the foreseeable future in the roofing sector.

While I Wait for My Roofing Job to Be Completed, What Should I Do?

Do you know you will need to replace your roof within two or three years? You may save a lot of money by replacing your roof as soon as possible. Just considering everything we talked about before!

From a historical perspective, this may mean saving you thousands of dollars on an expensive purchase. Rising energy prices, labor shortages, and inflation might raise the current price of a $10,000 roof to $15,000 or $16,000 in the not-too-distant future.

Financing might be a terrific alternative, especially with a low-interest rate loan. If you pay the loan early with no prepayment penalties, you may significantly reduce the interest rate.

If you want to learn more about your financial alternatives, visit our finance page.

When picking a contractor, you are not just choosing a roofing company; you are choosing a family!

Let Sunset Wood Barns help you make budget minded decisions on your next home. Look at the wood barn kits and post and beam wood barns for a great alternative.