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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. Request Covid - 19 Impact 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: OverviewAsphalt 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: DynamicsThe 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 AnalysisOn 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 AnalysisThe 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 Abstract 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 Abstract 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 Abstract 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:
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Asphalt Shingles Market Outlook 3.1. Market Segmentation 3.2. Market Size and Growth Prospects, 2016 - 2027 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint analysis | read more...