Industry Price Increases: Commercial Roofing and Waterproofing
To Our Valued Clients,
Thank you for your continued business and support during these difficult times. In an effort to help you plan for the future, we want to share the latest information available from our suppliers and manufacturers regarding widespread price increases.
In 2021, we are facing the continued effect of the pandemic, extreme droughts, material shortages, product allocations, global supply chain disruptions, escalating transportation costs, a tightening skilled labor market, and price increases like we have never seen before.
Continued effect of pandemic leads to price increases in all industries
See the linked articles below that shed some light on the current situation. Please note that these are only a few of the many announcements we have received in the past few months. Each of our suppliers is incrementally and steadily raising their prices and will continue to do so throughout the year.
Industry News:
“Per the manufacturer’s announcements, fasteners may increase as much as 35%. These increases are in addition to the existing increases on commercial roofing products that have been previously communicated across all markets.”
– Jason Taylor, President of West Division for Beacon Building Products, “Price Increase: Commercial Roofing”, April 26, 2021
“In the past few weeks, major Waterproofing manufacturers have announced price increases on multiple lines to include Below Grade, Silicones and Polyurethane Sealants, Coatings, and other commercial building envelope products.”
– Nevin Holly, National Vice President Waterproofing for Beacon Roofing Supply, Inc., “Price Increase: Waterproofing”, March 9, 2021
“Constraints on the supplies of their raw materials — especially polyethylene (PE), polypropylene (PP), and monoethylene (MEG) — are leading to factory shutdowns, sharp price increases, and production delays across a range of industries.”
– Bindiya Vakil for Harvard Business Review, “The Latest Supply Chain Disruption: Plastics” March 26, 2021
With these types of increases, we anticipate seeing current manufacturer prices double by the end of the year. With the upcoming heavy rain season also upon us, consider now the best time to get started on your roofing and waterproofing projects.
Don’t wait to start your roofing and waterproofing projects
As we navigate through these challenging times together, we believe it is important to remain transparent and keep our clients informed of the fast-changing industry conditions. As a result of the current market volatility and our suppliers’ unprecedented and frequent price increases, Matrix Roofing + Waterproofing, Inc. can only uphold proposal price for 14 days.
However, even if during the duration of your project the manufacturers increase the price of materials, Matrix Roofing + Waterproofing, Inc. promises that we will honor the price on the signed contract.
We recommend starting your project as soon as possible to avoid further price increases that will inevitably disrupt the industry and cause further delays to your critical roofing and waterproofing needs.
We will uphold your contract rate regardless of price increases
Thanks to our strong buying power and long-standing relationships with our suppliers, Matrix Roofing + Waterproofing, Inc. has top priority for material availability. We promise that our customers will always receive the best prices available.
No one can predict an end to these conditions but we here at Matrix Roofing + Waterproofing Inc. will remain vigilant to ensure that our customers receive the best service at the best price.
Thank you for your continued partnership.
