The latest market report published by Credence Research, Inc. “Global Asphalt Shingles Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global asphalt shingles market generated revenue of around USD 8.2 billion in 2021 and is anticipated to grow a CAGR of over 3.80% during the forecast period from 2022 to 2028 to reach around USD 10.3 billion in 2028.
Growing demand for advanced roofing systems is expected to result from consumers’ changing inclination toward eco-friendly & sustainable construction, rapid globalization, and changing consumer perceptions of high-quality products. These factors are predicted to increase demand for the global asphalt shingles market. Moreover, government initiatives to develop modern megacities and increase construction activities across a range of sectors, including housing, industries, schools, universities, museums, and libraries, are anticipated to provide lucrative opportunities in the forecast period.
Browse Global Asphalt Shingles Market report-https://www.credenceresearch.com/report/asphalt-shingles-market
The global asphalt shingles market is bifurcated into Product, Composition, Application, and Geography. Based on the product, the market segment include dimensional shingles, high-performance laminated shingles, and three-tab shingles. On the basis of composition, the global market is segmented into organic asphalt shingles and fiberglass asphalt shingles. Based on the application, the market is categorized into new construction and re-roofing. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global asphalt shingles market and accounted for a major market revenue share in terms of value. As consumer awareness of high-quality products increases and weatherable products are more popular due to harsh climatic conditions, this is expected to strengthen the overall market. An increase in single-family housing starts in the U.S. is anticipated to impact regional markets positively.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global asphalt shingles market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global asphalt shingles market segmentation based on product, composition, and application.
- The global asphalt shingles market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
The Global Asphalt Shingles Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Product (2016–2028; US$ Bn)|
|By Application (2016–2028; US$ Bn)|
|By Composition (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|