How are supply shortages affecting the commercial roofing industry and how does it impact you?
Supply shortages are everywhere. From cars to building materials to labor, almost every industry faces shortages due to the economic disruption from the COVID-19 pandemic and many other unforeseen events such as fires, hurricanes, unexpected freezing, and even canal closures. So what do you need to know about how these shortages are affecting the commercial roofing industry?
At Mint Roofing, we have taken every step possible to ensure that we have the materials and labor force necessary to keep your building dry.
2020 COVID Pandemic Impact
In March of 2020, the wheels of our economy stopped turning. COVID-19 was spreading rapidly, and most states implemented stay-at-home orders to help slow the spread. Some industries that were considered “essential” were allowed to continue to operate with some restrictions.
But even essential businesses faced shortages due to the closure of manufacturing facilities and shipping carriers. If they could get the products they needed, many workers stayed home out of fear.
Material shortages have reached critical levels in nearly every construction-related industry in the past 18 months. This significant lack of raw materials, combined with labor shortages and shipping issues has created the perfect economic storm.
The commercial roofing industry has felt the impact of these shortages, with longer lead times, higher costs, and diminished inventory.
Shortages in materials inevitably lead to price increases. Both the commercial and residential construction industries have been impacted more than most.
The National Roofing Contractors Association (NRCA) recently published an article stating that construction material costs are up 23.1% since this time a year ago. Lumber, iron, and steel prices have increased as much as 89% year over year. These price increases are ultimately passed on to the customer.
COVID has also impacted the workforce. Business closures left many workers to choose between unemployment and a career change. Concerned about their health, others decided to wait out the pandemic peak, returning to work once the curve had flattened.
Companies with a well-established workforce like Mint Roofing were fortunate. Safety measures were put into place and we were able to retain our highly skilled and experienced team, putting us in an excellent position to keep employees working even throughout the pandemic.
The economic disruption of COVID indirectly impacted the shipping channels that deliver materials from the manufacturer to contractors like Mint Roofing.
The abrupt downturn in manufacturing resulted in fewer shipments and fewer truck drivers willing to haul what loads there were. In April 2020 alone, the trucking industry lost 88,000 jobs. That trend continued throughout the year and started to recover in Q1 of 2021 slowly.
How do these shortages impact you?
With all of these shortages, what happens if you need a roof repair or replacement? As a Mint Roofing customer, you get top priority for your roofing installation, repair, and routine maintenance. Our long-standing relationships with the largest manufacturers of commercial roofing materials like Firestone, Johns Manville, Carlisle, and GAF give us priority over many of our smaller regional competitors.
If you’re not currently a Mint Roofing customer, this would be a good time for us to establish a relationship. Our TopSite Preventative Maintenance Program is a great place to start.
And NOW is the time to call us if you’ve got a major repair or installation project coming up in 2022. We will work closely with you on current pricing and delivery times.
The impact of this pandemic will have a ripple effect for quite some time, but Mint Roofing has worked hard to be there for our customers when they need us the most. We’ve got you covered!