Southeast Asia Asphalt Shingles Market Share, Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

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


The Southeast Asia Asphalt Shingles market size is projected to reach US$ 504.52 million by 2026, from US$ 351.67 million in 2020, at a CAGR of 6.2% during 2021-2026. Asphalt shingles are estimated to witness healthy growth in demand in Southeast Asian countries in the residential and non-residential sectors over the forecast period. The growth can be attributed to improved fire and wind resistance offered by the product at low cost and different textures and colors.
Favorable demographics, infrastructural boom, stable manufacturing, and business process outsourcing industry in emerging economies are expected to be key trends positively influencing the construction industry in the region. Robust growth of the construction sector in countries including Vietnam and Thailand is likely to drive the market.

Advancements in manufacturing technology are leading to development of shingles with high durability and strength. Furthermore, development of modern roofing systems to add multiple components such as fire resistance and leak barriers to avoid moisture penetration from rain and snow has also been playing a vital role in the growth of the market.

Asphalt has no perfect substitute and there are no significant co- and by-products. Cost of materials, including the cost of asphalt, which is highly dependent on crude oil prices has a major impact on manufacturing cost. In addition, growing focus on economies of scale to improve production efficiencies and reduce wastage can work in favor of the market.

Asphalt shingles offer ease of installation and homeowners can install them without the need of skilled contractors, which reduces the cost associated with installation of the product. However, few of the shingles manufacturing companies have tie-ups with contractors who provide specialized services. This strategy helps companies in expanding customer base and retaining existing customers.

Three-tab shingles are majorly used in Southeast Asian countries characterized by strong winds and fluctuating climatic conditions. However, increasing consumer awareness related to applications of green building materials and eco-friendly roofing materials to reduce the impact of carbon footprint are poised to hamper market growth over the forecast period.

Market Segmentation, Outlook & Viewpoint: Southeast Asia Asphalt Shingles Market

Application Market Segmentation & Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  
Residential
  
Non-residential

Key Players, Recent Developments & Regional Insights: Southeast Asia Asphalt Shingles Market

The residential segment accounted for half of the overall revenue in 2017, on account of growing demand for asphalt shingles in new residential construction as well as in aftermarket for replacement of roofing products. In addition, high performance characteristics offered by the product pertaining to wind and fire resistance is projected to boost its demand in the sector.

The product is widely used in the residential construction for reflective insulation and to maintain interior temperature. In addition, growing awareness among consumers pertaining to environmental impact of shingles is driving manufacturers towards producing eco-friendly products with high durability and lower carbon footprint.

The non-residential segment is anticipated to post a CAGR of 5.9% over the forecast period in terms of revenue. Expansion of manufacturing facilities and public infrastructure and rising corporate construction in Thailand, Vietnam, and Malaysia are stirring up the demand for asphalt shingles in the non-residential application in Southeast Asia.

Increasing investments by foreign companies in the manufacturing industry to convert agricultural products into higher valued manufactured products are estimated to support the growth of the non-residential segment.

Regional Insights

Foreign investments by China and Japan have a major impact on the development of special economic zones, commercial complexes, and residential projects. This, in turn, has been providing a fillip to the market in the region. Furthermore, emerging economies including Thailand, Philippines and Vietnam are key growth contributors to the regional demand.

The construction of commercial properties, shopping complexes, purpose-built offices, and leisure properties with increasing investments in travel and tourism is expected to fuel the demand for asphalt shingles in non-residential building construction.

Thailand represented just over 43.0% of the Southeast Asia asphalt shingles market in terms of revenue in 2017. Increasing travel and tourism activities in Thailand are expected to increase public and private infrastructure spending on hotels, restaurant, and leisure projects, thereby augmenting the demand for the product. In addition, government initiatives to promote residential construction are likely to support product demand.

Cambodia is one of the fastest growing economies in Southeast Asia with increasing consumer disposable income. Development of non-residential construction buildings including shopping complexes, hotels, and restaurants along with single-family residential homes are bolstering the demand for roofing materials in the country, thereby augmenting the regional market.

Southeast Asia Asphalt Shingles Market Share Insights

The major players compete on the basis of economies of scale, which reduces unnecessary resource consumption. It is, however, difficult to achieve for small players operating in the region. In addition, key players are integrated across the value chain, which aids in reduction of manufacturing costs.

Companies in the market are striving to increase their sales through development of new products and increased production through capacity additions. Market capacity and product demand in Southeast Asia are poised to continue posting upward trend as the market is projected to be driven by increasing product penetration coupled with favorable economic conditions.

Key Insights Covered: Southeast Asia Asphalt Shingles Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Southeast Asia Asphalt Shingles industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Southeast Asia Asphalt Shingles industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Southeast Asia Asphalt Shingles industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Southeast Asia Asphalt Shingles industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Southeast Asia Asphalt Shingles industry.

Research Methodology: Southeast Asia 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 other