Report updated on 11th September, 2021: Global Asphalt Shingles Market 2021 (Includes Business Impact of COVID-19)
Global Asphalt Shingles Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global asphalt shingles market report has been segmented on the basis of product type, material, application, and region.
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Asphalt Shingles Market size was valued at USD$6.49 billion in 2020 and is projected to reach USD$ 10.62 billion by 2030, growing at a CAGR of 4.92% from 2020 to 2030.
Global Asphalt Shingles Market: Overview
Asphalt shingles are wall/roof shingles that uses asphalt for waterproofing. There are a variety of shingles available that rank from low-grade to high-grade. Asphalt shingle is the most favorite choice of the consumer and allows it to install on structures owing to unique properties which helps it to withstand with high wind, fire, and other climatic conditions. It is available in a wide range of style, and colors with advancements as compare to other roofing products. Moreover, various benefits of asphalt shingles such as cost-effectiveness nature, durability, and energy saving capabilities has further enhanced demand for the target product.
Global Asphalt Shingles Market: Dynamics
The global asphalt shingles market is expected to register a significant growth rate over the forecast period owing to factors such as growing demand for roofing materials along with affordable price, environment friendly properties, and aesthetically attractive designs. Development of high-performance laminated asphalt shingles and increasing adoption of eco-friendly materials for roofing of commercial and residential infrastructures, is also expected to propel growth of the target market during the forecast period. Recent trend shows that, several companies focusing on broad range of product offerings which can create a lucrative opportunity for growth of the global market.
However, availability of other alternatives products including clay tiles, metal, slate, and cedar shake may hamper demand for asphalt products and restrain growth of the target market during the forecast period.
Global Asphalt Shingles Market: Segment Analysis
On the basis of product type, the target market is segmented into laminates asphalt shingles, three-tab shingles, strips, and luxury shingles. The strip asphalt shingles segment is expected to register significant growth rate in the target market over the forecast period.
Among the material segment, the fiberglass asphalt shingles contributes leading market share and is anticipated to dominate the global market throughout the forecast period.
On the basis of application, the target market is segmented into new construction and renovation/remodeling. The renovation/remodeling segment is accounted for larger market revenue share owing to increasing demand for asphalt shingles in new construction and expected to increase at a higher CAGR over the forecast period.
Asphalt Shingles Market: Region Analysis
The market in North America and Europe are accounts for significant share in terms of revenue, and is projected to maintain its dominance during the forecast period owing to adverse climate conditions along with increasing investments in R&D for advanced materials in countries in the region. The Asia Pacific asphalt shingles market is estimated to grow at highest CAGR over the forecast period, owing to increasing construction projects coupled with high investments in commercial as well as residential sector in countries. In addition, rising infrastructure development activities and renovation projects in the region are some of the other factors, anticipated to fuel growth of the target market. Moreover, increasing focus on product innovation in order to improve the aesthetics of buildings is anticipated to bolster demand for the asphalt shingles market in the region. The market in Middle East & Africa accounts for moderate share in terms of revenue in the global market and is expected to witness considerable growth over the next 10 years.
Below are the active patents related to Asphalt Shingles Market.
Patent Number: CA2709653A1
Roofing material and method of making the same
A roofing material comprising an upper surface and a lower surface, wherein the upper surface includes reduced-particle size granules and may further include a reduced-thickness face coating.
The thickness of the upper surface is related to the particle size of the granules deposed on the face coating. A smaller particle size granule than those used in traditional roofing shingles is utilized in the upper surface which may allow for a reduced-thickness face coating while not sacrificing the retention of the granules on the surface of the roofing material or desired physical characteristics. The face coating may include a reduced amount of filler material, such as mineral fillers, than face coatings of traditional roofing materials.
Application File Date: 2010-07-13
Application Granted Date: 2016-06-07
Current Assignee: Building Materials Investment Corp
Patent Number: EP1659233A1
Roofing system and roofing shingles
A roofing system having a multiplicity of courses of roofing shingles and interply material comprising at least one course of interply material overlapping at least about ten percent of a first course of shingles and a second course of shingles overlapping at least a portion of the interply material and the first course of shingles. More than about 40% of the first course of shingles is exposed after installation. The roofing system has a class A fire resistant rating. Roofing shingles having particular utility in the roofing system of the present invention are also disclosed. In preferred embodiments the shingles have an exposure width of at least about 60% of the shingle, more preferably at least about 64% of the width of the shingle.
Application File Date: 2002-08-02
Application Granted Date: 2008-07-16
Current Assignee: Elk Premium Building Products Inc
Patent Number: US20160186436A1
Roofing shingle system
A roofing system including shingles with different shingle patterns. The roofing system may include a plurality of first shingles having a first two-tab shingle pattern and a plurality of second shingles having a second two-tab shingle pattern. The first shingles including a first tab having a first width and a second tab having a second width, wherein the first width and the second width are substantially equal. The second shingles including a third tab having a third width and a fourth tab having a fourth width, wherein the third width is substantially equal to the first width and the fourth width is about double the second width. The plurality of first shingles and the plurality of second shingles can be formed from a rectangular shingle blank in an interwoven pattern with substantially no scrap or waste material.
Application File Date: 2015-12-28
Application Granted Date: 2017-11-07
Current Assignee: Owens Corning Intellectual Capital LLC
Global Asphalt Shingles Market Segmentation:
Segmentation by Product Type:
- Laminates Asphalt Shingles
- Three-tab Shingles
- Luxury shingles
Segmentation by Material:
Segmentation by Application:
- New construction
Key Market Players included in the report:
- Atlas Roofing Corporation (US).
- Braas Monier Building Group
- Building Products of Canada Corp.
- Certain Teed Corporation (US)
- GAF Materials Corporation
- GCP Applied Technologies Inc.
- Henry Company LLC (US)
- IcoPal ApS
- IKO Industries Ltd.
- Malarkey Roofing Products (Portland)
- NBP International Inc.
- Owens Corning (US)
- PABCO Roofing Products
- Polyglass U.S.A. Inc. (US)
- Shibam Ventures.
- Siplast Inc. (US)
- TAMKO Building Products Inc. (US)
- Tarco Inc. (US)
Below are the key development related to Asphalt Shingles Market in 2020 and 2021.
May 2021: IKO Industries Seeks Clearance To Acquire Ross Roof Group. The Commerce Commission has received a clearance application from IKO Industries Ltd to acquire all of the shares of Ross Roof Group Limited. IKO and Ross Roofs both supply steel roof tiles. Steel roof tiles are predominantly used on residential houses. Other forms of roofing include long-run steel and concrete tiles. IKO is a global roofing company, headquartered in Canada. In New Zealand, IKO cuts and presses steel roof tiles through its local subsidiary Roof Tile Group Limited (trading as Gerard) and sells these tiles within New Zealand and overseas. IKO also imports and supplies asphalt shingles and membrane roofing in New Zealand through an independent distributor, Nuralite Waterproofing Ltd. Source
April 2021: GAF Manufactures Industrys First Asphalt Shingles Containing Recycled Waste Shingles. GAF, a Standard Industries company and the largest roofing and waterproofing manufacturer in North America, announced a new patented shingle recycling process that has successfully produced the industrys first asphalt roofing shingles containing recycled material from post-consumer and post-manufacture waste shingles that may have otherwise been landfilled. This breakthrough represents an important milestone in delivering more sustainable, affordable roofing materials and has significant implications for improving sustainability and circularity across the roofing supply chain. Source
April 2021: IBHS and UL expand partnership to improve asphalt shingle performance against hail. UL to begin testing asphalt shingles to the IBHS Impact Resistance Test Protocol. The Insurance Institute for Business & Home Safety (IBHS) and UL announced plans to expand their relationship to increase manufacturer access to testing to the IBHS Impact Resistance Test Protocol for Asphalt Shingles. IBHS released its Impact Resistance Test Protocol for Asphalt Shingles, a new test standard that mimics the way hail attacks a roof. It utilizes hailstones manufactured to be consistent with those that occur naturally, a notable shift from the traditional steel ball test, to better understand and identify ways to reduce the damage hail causes to asphalt shingle roofs. The growing partnership between IBHS and UL will help meet increasing demand for testing as the roofing industry continues to improve asphalt shingle performance. UL has added the capacity for research and development testing of asphalt shingles using the IBHS protocol to the organizations broad standardized testing program and will begin serving roofing manufacturers by testing new asphalt shingles to the IBHS protocol in support of their product development activities. Under the agreement, UL will also test impact-resistant labeled products available in the marketplace on behalf of IBHS, as the non-profit continues to fulfill its commitment to refresh its Roof Shingle Hail Impact Ratings periodically and test and add new products to the ratings as they are introduced to the market. Source
April 2020: TAMKO Building Products LLC Among First to Utilize Renoworks Platform to Deliver On-Demand Roof Measurements and 3D Models without a Home Visit. Renoworks Software Inc. (TSXV: RW) ("Renoworks") is proud to announce that its remote measurement and 3D model technology is now being used by nationwide roofing manufacturer, TAMKO Building Products LLC ("TAMKO"), and TAMKOs expanding network of roofers, contractors, and dealers to address the pressing challenges facing the roofing industry . This technology integrates seamlessly into the existing TAMKO Shingle Styles visualizer and is powered by the Renoworks Platform. The Renoworks Platform unifies photorealistic design visualizations, 3D interactive models, and precise roofing measurements (powered by EagleView®) in a single project-planning interface that can be digitally shared between a contractor, dealer, and the homeowner, eliminating the need for in-person sales visits. Combined with TAMKOs extensive offering of roofing products, this winning combination will provide a much-needed virtual sales tool to TAMKO customers and give homeowners the confidence they need to purchase a new TAMKO roof without needing to leave the home or meet the contractor in-person. Source