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Asphalt Shingles Market By Product (Dimensional Shingles, High-Performance Laminated Shingles, Three-Tab Shingles) By Composition (Organic Asphalt Shingles, Fiberglass Asphalt Shingles) By Application (New Construction, Re-Roofing) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The global asphalt shingles market report explores the critical analysis of the asphalt shingles industry using key parameters. The report consists of investment strategies, the need for investments in the asphalt shingles industry, and the multiple benefits for investors. Importantly, this report sets out major changes in the global technical regulations for the asphalt shingles industry and how economic and non-economic barriers are helping the asphalt shingles market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

REPORT ATTRIBUTE DETAILS

Asphalt Shingles Market by Volume

Yes

Asphalt Shingles Market by Value

Yes

Asphalt Shingles Market, Tornado Analysis

Yes

Asphalt Shingles Market, STAR Analysis

Yes

Asphalt Shingles Market, SRC Analysis

Yes

Asphalt Shingles Market, Import-Export Data

Yes (On Demand)

Asphalt Shingles Market Pricing Analysis

Yes (On Demand)

Asphalt Shingles Market Segment Analysis

·         By Product (Dimensional Shingles, High-Performance Laminated Shingles, and Three-Tab Shingles)

·         By Composition (Organic Asphalt Shingles and Fiberglass Asphalt Shingles)

·         By Application (New Construction and Re-Roofing)

Asphalt Shingles Market, Regional Analysis

·         North America (US and Canada)

·         Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

·         Asia-Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)

·         Latin America (Brazil, Mexico, and the Rest of Latin America)

·         The Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)

Asphalt Shingles Market Key Companies

Owens Corning, IKO Industries Ltd., CertainTeed Corporation, TAMKO Building Products Inc., GAF Materials, Atlas Roofing Corporation, Malarkey Roofing, PABCO Roofing Products, Siplast Inc., and Building Products of Canada Corp.

Asphalt Shingles Market Competitive Landscape

·         Market Share Analysis

·         Competitive Benchmarking

·         Key Players Market Positioning

·         Geographical Presence Analysis

·         Major Strategies Adopted

Key Highlights of the report

How are the major segments performing in the Asphalt Shingles market?

  • In 2021, the dimensional shingles segment accounted for the largest share of the market. This market growth is driven by increasing construction activities due to higher disposable incomes, shifting customer expectations about architectural values, and economic development.
  • In 2021, the re-roofing segment was anticipated to hold a prominent share of the global asphalt shingles market as several parts of the developed world were affected by severe weather events.

Which region dominated the Asphalt Shingles market?

In 2021, the North American region was anticipated to hold a prominent market share in the global asphalt shingles. Increasing spending on R&D for innovative materials in North America, as well as harsh climate conditions, is contributing to this increase. Increasing investment in commercial and residential construction in the United States has increased building projects in the area. In turn, this drives the demand for asphalt shingles market size.

How is US Market Performing in the Asphalt Shingles market?

In 2021, the North American region was anticipated to hold a prominent market share in the global asphalt shingles. The demand for asphalt shingles size in the U.S. will increase as new residential construction activities, primarily single-family housing, increase in the country. In addition, the Asphalt Roofing Manufacturers Association (ARMA) of the asphalt roofing industry has conducted a number of workshops and training programs in the US to promote the use of asphalt shingles on roofing, which is expected to boost their sales in the market.

What is the competitive environment of the Asphalt Shingles market?

The asphalt shingles industry's competitive environment provides information on the entire economic profit made by suppliers and businesses, the sales and revenues created in this sector, the asphalt shingles market share globally, the business organization summary, the introduction of new products, and the opportunities for the industrial asphalt shingles market. For instance, Henry Company announced the launch of the Henry 812 RoofSaver Clear Sealer in 2020 as a low-cost alternative to replacing aged shingles. It can prolong shingle life and reduce granule loss.

Executive Summary

How are Manufacturers Teaming Up with Stakeholders in Asphalt Shingles Market?

As the industry offers substantial growth potential, a number of startups are entering the market to offer innovative products and technologies. These include Antique Bird Nest, Sk Traders, and RAV Infrastructure. For instance, Sk Traders began manufacturing, trading, importing and exporting a range of roofing tiles and shingles in 2017. This includes top-grade ceramic roof tiles, asphalt roof shingles, and PVC Roof Gutters.

asphalt-shingles-market

Which are the key investments by the Asphalt Shingles market players?

Leading players operating in the asphalt shingles market are focusing on expansion in production capacities for asphalt shingles. Apart from this, players are concentrating on strategic mergers and acquisitions, collaborations and creating awareness among consumers via different associations formed to promote the target market for asphalt shingles. For instance, Atlas Roofing Company purchased ACH Foam Technologies in August 2018, a leading manufacturer of molded polystyrene products. With the acquisition of ACH Foam Technologies, Atlas Roofing expands its polystyrene foam company, creating North America's largest producer of molded polystyrene foam with decades of expertise, extensive product lines, and an array of innovative technologies.

Some major players in the asphalt shingles market are Owens Corning, IKO Industries Ltd., CertainTeed Corporation, TAMKO Building Products Inc., GAF Materials, Atlas Roofing Corporation, Malarkey Roofing, PABCO Roofing Products, Siplast Inc., Building Products of Canada Corp.

What are the Major Driving Factors for the Asphalt Shingles Market?

With a growing customer attitude toward eco-friendly and sustainable building methods, the demand for well-developed roofing systems will spur the growth of the asphalt shingle market. As a result of the long-lasting nature of the roofing material and its excellent heat reflection, it is expected that ASTM International regulations will encourage the use of sustainable building materials, boosting product demand. Aside from waterproofing and resilience, these products enhance the visual appeal of construction projects. Consumers' changing attitudes towards high-quality products and the rapid growth of the global economy are expected to drive the market forward.

What are the Major Risks for the Asphalt Shingles Market?

The volatility of polymer prices could hamper the growth of asphalt shingles. However, there may be challenges for the target market's growth over the projected period due to the availability of alternative products such as clay tiles, metal, slate, and cedar shake. As a result of environmental sustainability and reduced raw material costs, the market growth may be restrained. Other major challenges for the construction industry include water management and carbon dioxide emissions during construction and construction projects. The demand for asphalt shingles products may decrease if construction projects slow down.

Which is the key application in the Asphalt Shingles market?

The re-roofing segment is expected to hold a prominent share of the global potassium market during the forecast period. In the future, the residential re-roofing sector will continue to be the prominent asphalt shingle application. The U.S. has a large number of existing houses, many of which still have three-tab shingles that do not meet current building codes. As a requirement for continuing coverage before renewing a contract, insurers may allow homeowners to replace older shingles with cheaper, more durable laminated asphalt shingles. Market demand will increase as these shingles have improved tear resistance, softness, and weather resistance.

How is the Asphalt Shingles market performing in regions?

Due to significant manufacturing companies and new domestic players, North America is anticipated to dominate the asphalt shingles market. Increasing the construction of new residential buildings would increase the market size for single-family homes in Canada and the U.S. More than 200,000 residential development ventures were launched in Canada in 2018, indicating a strong consumer growth potential. Residential and industrial building reroofing accounts for over 70 percent of the roofing industry's expenditures in the U.S. Due to their characteristics and advantages over metal roofing applications, these products will be used in hurricane-prone areas because of their reliability, economic viability, the price for asphalt shingles, and performance, leading to an increase in demand in these areas.

Furthermore, the Asia Pacific market is anticipated to hold the largest revenue share in the global asphalt shingles market during the forecast period. As a result of growing construction expenditures on residential buildings and renovation in the Asia Pacific region, the market is projected to grow the fastest over the forecast period. As consumers continue to buy private residential properties and commercial spaces, such as banks and shops, competition in the sector will increase.

What is the regulatory landscape for the Asphalt Shingles market?

Asphalt roofing system components are subject to various regulatory requirements, including the Architectural and Industrial Maintenance (AIM) Coatings Regulations and the Adhesive & Sealants Regulations. The US may introduce regulations affecting these products anywhere, but geographic areas historically associated with higher levels of VOC regulations have historically.

What is the Market Size of Asphalt Shingles regarding value?

The global asphalt shingles market is anticipated to grow at a substantial CAGR of 3.80% in the upcoming years. The global asphalt shingles industry was estimated to be worth USD 8.2 billion in 2021 and was expected to be worth USD 10.3 billion by 2028.

What are the major players planning for the future of the Asphalt Shingles market?

Growing regional existence and investment in downstream applications are anticipated to deliver a competitive edge in the market. For instance, GAF introduced Timberline HDZTM Shingles in January 2020, which is operated by LayerLockTM. The Timberline HDZ shingles offer all the benefits of the best-quality shingles available in America, while LayerLock technology allows mechanical fusion. IKO has announced its plans to purchase the waterproofing membrane division of Axter from the SMAC group. It will enhance its position as a world leader in waterproofing and insulation by purchasing AXTER's waterproofing membrane division.

Segmentation of Global Asphalt Shingles Market-

Global Asphalt Shingles Market – By Product

  • Dimensional Shingles
  • High-Performance Laminated Shingles
  • Three-Tab Shingles

Global Asphalt Shingles Market – By Composition

  • Organic Asphalt Shingles
  • Fiberglass Asphalt Shingles

Global Asphalt Shingles Market – By Application

  • New Construction
  • Re-Roofing

Global Asphalt Shingles Market – By Region

  • North America
    • USA
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Asphalt Shingles market

COVID-19 has had a substantial impact on the market due to the outbreak of the COVID-19 pandemic. Globally, COVID-19 caused lengthy lockdowns, hampered the construction industry and decreased asphalt shingle sales.

North America accounted for the most heightened share in the global asphalt shingles market.

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 drive the Asphalt Shingles market.

The dimensional shingles segment had a major share in the global market in 2021.

The re-roofing segment had a major share in the global market.

Asphalt Shingles Market Scope

Report Attribute Details
Market Value in 2021 USD 10.3 billion
Market Value in 2028 USD 8.2 billion
CAGR 3.80%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Building & Construction
Report ID:   60758
Report Format:   PDF
Pages:   130
Rating:    4.6 (60)
Delivery Time: 24 Hours to 48 Hours   
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