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Roofing Shingles Market By Product (Laminated, Three-tab, High-Performance Laminated) By Application (Residential, Commercial) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The Roofing Shingles Market report explores the critical analysis of the Roofing Shingles industry using key parameters. The report consists of investment strategies, the need for investments in the Roofing Shingles industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the technical regulations for the Roofing Shingles industry, as well as how economic and non-economic barriers are helping the Roofing Shingles market. Moreover, the report analyses the 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.

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Key Highlights of the report

How are the major segments performing in the Roofing Shingles Market?

In 2021, the laminated category dominated the market. Laminated shingles are a tougher, more durable version of a normal 3-tab shingle. The laminated shingle has an additional layer beneath its lower half.

In 2021, the residential segment to dominate the market because of the growing population and desire for single-family residential structures.

Which region dominated the Roofing Shingles Market?

In 2021, North America was one of the major contributors to global Roofing Shingles. As a result of tough climatic conditions, increasing customer awareness of high-quality products and weather-ability is predicted to boost the overall sector. The rise in single-family housing in the United States is predicted to boost regional market growth. Among roofing materials, shingles are widely used in North America and are gaining popularity in developing parts of the world that traditionally relied on other types of concrete roofing solutions.

What is the competitive environment of the Roofing Shingles Market?

The top industry players have consolidated their global roofing shingles market share. Furthermore, most manufacturers are engaged in research operations to improve product portfolios in light of climatic circumstances to promote overall industry growth. Key market players are now focusing on implementing business strategies for developing complex and advanced processes for product creation, an in-depth understanding of customers and the market, and adopting an established production process to obtain a competitive advantage.

Executive Summary

How has the rise in the construction sector influenced the market for roof shingles?

Roofing shingles are used to cover roof structures that are made up of discrete components that are then overlapped with one another. Roofing shingles are often supplied in flat rectangular shapes that are laid across the roof by fixing the joints of the components as they move from the bottom edge to the top of the roof. Roofing shingles are available in various wood, metal, plastic, and composite materials. Roofing shingles and safeguarding the roof improve the visual appearance of all types of structures, as the roof is the most visible infrastructure. The global construction industry has the world's largest raw material consumption. The roof is an important construction structure because it protects the building and improves its appearance. A roof structure is made up of various elements that are connected to offer weatherproof protection in structures. Roofing materials vary depending on roof shape, location, environment, and whether they are utilized for commercial or residential purposes. Bituminous shingles are popular because they are affordable and have a long lifespan for residential use. Metal, EPDM, and built-up roofs are commonly utilized in commercial construction, where flat roofs predominate. As a result, the rising construction industry is fuelling market demand.

Which are the key investments by the players in the Roofing Shingles Industry Market?

Roofing shingles are an important component of the capital investment required to safeguard a home over time. As a result, global leaders in the manufacturing of roofing shingles are investing and focusing on reinforcing their brand identity through product differentiation and supplying products with higher quality standards than their competitors.

Some of the major players in the market are GAF Materials, Owens Corning, CertainTeed, Atlas Roofing, IKO Group, Malarkey Roofing, PABCO, TAMKO Building Products, and Polyglass USA.

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

Rising demand for sophisticated roofing systems due to shifting customer preferences for ecological and sustainable construction approaches is expected to drive industry growth. Roofing shingles have been employed in roofing applications due to their excellent weathering ability in snow, wind, hailstorms, and high winds. The demand for roofing shingles varies greatly based on the countries and locations influenced by building patterns, people's aesthetic preferences, weather, and spending ability. They are frequently employed in hurricane-prone locations owing to their competitive advantages against metal roofing applications concerning economic feasibility, durability, and performance, boosting the roofing shingles market revenue. Increasing demand for new residential construction activities, mostly single-family house structures in the U.S. and Canada, would drive market expansion.

What are the Major Risks for the Roofing Shingles Market?

Price fluctuations may hinder the growth of the roofing shingles market. Certain market concerns, such as high raw materials and repair prices of roofing shingles, impede the expansion of the roofing shingles sector. Furthermore, bituminous shingles might be compromised if constructed in freezing weather. Since they are lower quality than other materials, they are more susceptible to wind lifting and can easily shatter at various temperatures, limiting market expansion.

Which is the Key Application in the Roofing Shingles Market?

In 2021, the residential segment dominated the global market and was expected to increase quickly throughout the forecast period. The increase in policy and institutional support for housing infrastructure in emerging nations is attributed to the segment. Residential roofing demand increases as the population grows, and people prefer single-family homes. Furthermore, the availability of credit and low-interest rates significantly influence the total demand for residential construction. Additionally, the rising replacement, reconstruction, and renovation of existing roofs in residential areas are likely to improve market growth potential. Rising natural disasters are likely to fuel rehabilitation and building activity, boosting the roofing shingles market.

How is the Roofing Shingles Market performing in regions?

In 2021, the global roofing shingles market was dominated by North America. Growing customer awareness of high-quality products and weatherability due to difficult climatic conditions is expected to propel the entire industry. The increase in single-family housing starts in the United States is expected to benefit regional market growth. Among roofing materials, shingles are extensively utilized in the North American region and are gaining favor across developing sections of the globe that previously relied on another form of roofing solution made up of concrete.

Besides, the Asia-Pacific is expected to grow significantly over the forecast period and maintain its dominance with growing spending on residential development and refurbishment activities. The growing consumer desire to own private residential property and commercial areas such as offices and retail will drive market growth. Durability, availability in vertical and horizontal designs, adaptability, and clean aesthetic elements suitable for various architectural forms will drive regional demand. Roofing shingles markets in developing countries such as India will expand rapidly, providing a new engine of global growth in emerging markets.

What is the regulatory landscape for the Roofing Shingles Market?

American Society for Testing and Materials (ASTM) International's stringent requirements to encourage sustainable building materials are projected to increase product adoption. Supportive government initiatives to establish contemporary megacities and a surge in residential and commercial construction activities ranging from housing, industries, schools, universities, museums, and libraries are being implemented to promote the market.

What is the Market Size of Roofing Shingles regarding value?

The Roofing Shingles Market is anticipated to grow at a substantial CAGR of 4.1% in the upcoming years. The Roofing Shingles industry was estimated to be worth USD 8.2 billion in 2021 and was expected to be worth USD 10.4 billion by 2028.

What effect does COVID-19 have on the market for Roofing Shingles?

The global pandemic and various governments' tight restrictions have significantly disrupted the construction materials supply chain. Furthermore, enterprises were experiencing a labor shortage, both skilled and unskilled, resulting in significant losses. Furthermore, the mobility restrictions imposed during the lockdown produced logistical challenges, making raw materials for manufacturing difficult to procure. Because roofing is a hands-on industry that necessitates close worker interaction, social distance standards enforced by various governments provided extra obstacles. Construction material shortages have also caused significant price volatility. All of these factors have affected the construction industry, resulting in lower sales of roofing shingles.

Segmentation of Roofing Shingles Market-

Roofing Shingles Market – By Product

  • Laminated
  • Three-tab
  • High-Performance Laminated

Roofing Shingles Market – By Application

  • Residential
  • Commercial

Roofing Shingles Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • 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 Middle East and Africa

Frequently asked questions about the Roofing Shingles industry

COVID-19 is expected to affect the Roofing Shingles market negatively.

North America accounted for the highest share of the Roofing Shingles market.

Rising demand for sophisticated roofing systems due to shifting customer preferences for ecological and sustainable construction approaches is expected to drive industry growth.

The laminated segment had a major share in 2021, with more than 40% of the market revenue share.

The residential segment had a major share in 2021, with more than 65% of the market revenue share.

Roofing Shingles Market Scope

Report Attribute Details
Market Value in 2021 USD 8.2 billion
Market Value in 2028 USD 10.4 billion
CAGR 4.1%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Oct 2022
Category:  Consumer Goods
Report ID:   60705
Report Format:   PDF
Pages:   120
Rating:    4.2 (60)
Delivery Time: 24 Hours to 48 Hours   
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