WorldWide Asphalt Shingles Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Asphalt Shingles Market

Industry / Sector Trends

Asphalt Shingles Market size was over USD 7 billion in 2018 and may expect consumption at over 1.5 billion square meters up to 2025.  
 

U.S. Asphalt Shingles Market Size, By Product, 2018 & 2025, (Million Square Meters)

 

Rising demand for advanced roofing systems owing to changing consumer inclination towards ecological & sustainable construction methods may stimulate asphalt shingles market size. The roofing material is durable in nature and offers good heat reflectivity which will foster market growth. Stringent regulations by ASTM International to encourage the use of sustainable building materials is expected to propel product demand.
 

Rapid globalization and changing consumer perceptions towards high quality products will stimulate industry growth. Supportive government initiatives to develop modern megacities, increase in residential & commercial construction activities ranging from housing, industries, schools, universities, museums, and libraries will boost market share. Apart from durability & waterproofing properties, these products are used to construct decorative residential and commercial building structures with improved aesthetics.
 

In the U.S., over 70% of expenditures in roofing market are for the re-roofing applications in both residential as well as commercial buildings. Asphalt shingles have been used in roofing application owing to its strong weathering performance with respect to wind, snow, hailstorms, and high winds. They are widely used in hurricane prone regions owing to its competitive characteristics against metal roofing applications with respect to durability, economic feasibility, and performance which will stimulate market share. Changing climatic susceptibilities with rising consumer consciousness on hazard compatible products will stimulate market share.
 

Increasing demand from new residential construction activities primarily single-family housing structures in U.S. and Canada will boost market share. In Canada, over 200,000 housing construction projects were started in 2018, indicating high growth potential for market growth in the country. Asphalt shingles are cost effective, easy to maintain, and highly durable. Various shingles are produced to resemble materials like redwood, cedar, southern pine, slate or tiles while providing more benefits than these other materials.
 

Asphalt shingles are available in a variety of shapes, materials, colours, and thickness. Their customizable nature, aesthetic characteristics designed to give a minimalistic look, compatibility with various architectural styles such as victorian, neo-classical, and modernist will foster overall market growth.
 

Market Segmentation, Outlook & Regional Insights: Asphalt Shingles Market

 Asphalt Shingles Market, By Product

Three-tab shingles market demand was valued at about USD 450 million in 2018. Increasing construction & renovation activities owing to rising disposable income, changing consumer perceptions on aesthetic qualities, and economical nature will boost industry growth. Increase in consumer inclination to buy private property in India, China, and Malaysia owing to rise in nuclear families and disposable income, will stimulate asphalt shingles market demand as they are a cost-effective alternative to other roofing materials.  
 

High-performance laminated shingles market demand may register a growth at over 4% up to 2025. These products offer premium performance characteristic and give the traditional appearance of high-quality wood as they have two layers of bonded material which gives it more durability, customization features with respect to various colours, and ornate cuts. Increasing demand for luxury residential & commercial properties such as residential villas, office, lodges, and institutes owing to rapid urbanization, and globalization will boost asphalt shingles market demand.  
 

Asphalt shingles market size from commercial applications may register significant gains at over 2.5% up to 2025. Rising manufacturing activities in India, Thailand, and South Korea will increase the product demand for various industrial architectures spaces such as factories, logistic houses, and warehouses which is expected to stimulate the market growth for commercial applications. Properties including better tear resistance, pliable nature and to withstand severe weather conditions will stimulate market share.
 

Asphalt Shingles Market, By Region

North America, driven by Canada and the U.S. asphalt shingles market size is expected to register growth over 2% up to 2025. Growing consumer consciousness towards high quality products, and weatherability owing to harsh climatic conditions may drive the overall market. Rise in single family housing starts in U.S. is projected to have positive impact on market growth in the region.
 

Europe, driven by UK, France and Germany asphalt shingles market demand may surpass USD 250 million by 2025. Rising construction & renovation activities in eastern European countries such as Hungary, Slovenia, and Czech Republic owing to rapid urbanization, and increasing disposable income will stimulate market share. Asphalt shingles are compatible with modern, and classical European architectural styles such as Baroque, Tudor, and Romanesque which will stimulate regional market share.
 

Asia Pacific led by India, Japan and China asphalt shingles market is expected to witness highest growth of over 8.5% with rising construction spending in residential construction and renovation activities. Increasing consumer inclination to own private residential property & business spaces such as offices, and shops will boost market demand. Durability, availability in vertical & horizontal designs, flexibility, and clean aesthetic features compatible with various architectural forms will foster market growth.
 

Key Players, Recent Developments & Sector Viewpoints: Asphalt Shingles Market


Global asphalt shingles market share is consolidated with major industry players including CertainTeed Corporation, Owens Corning, Tarco, IKO Industries, Atlas Roofing Corporation, GAF Materials, Henry Company, Polyglass U.S.A., PABCO Roofing Products, NBP International, and Shibam Ventures. Furthermore, most of the manufactures are engaged in research activities to enhance product portfolio with respect to climatic conditions to foster overall industry growth.
 

Industry Viewpoint
 

Asphalt shingles industry covers wide variety of roofing products manufactured using bitumen as a key ingredient. 3-tab, laminated/ architectural, and high performance laminated are the majorly used products across the globe. However, developing economies from Asia Pacific and Eastern Europe are involved in development of innovative product varieties based on consumer requirements. U.S. and China are the largest consumer countries of asphalt shingles. Over 70% of single-family houses are covered using asphalt shingle roofs indicates high penetration of the products. Residential application segment, primarily residential re-roofing accounted for the largest market share on account of aging housing structures and destruction due to storms and uncoverable weather conditions in the regio

Key Insights Covered: Exhaustive Asphalt Shingles Market
1.  Market size (sales, revenue and growth rate) of Asphalt Shingles industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Asphalt Shingles industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Asphalt Shingles industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Asphalt Shingles industry.

Research Methodology: Asphalt Shingles Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.