Report Details:
15 Companies Covered
111 Pages
MRFR Press Release/- Market research future published a half-cooked research report on Global Asphalt Shingles Market. The Asphalt Shingles market is expected to grow over the CAGR of around 3.7% during the period 2025 to 2035.
Market Highlights
According to MRFR, the global asphalt shingles market was valued at USD 5.54 billion in 2023 and is projected to reach USD 8.5 billion by 2035, with a CAGR of 3.64%. Market growth is fueled by expanding residential construction, technological advancements in roofing materials, and rising adoption of sustainable construction practices.
The global asphalt shingles market is anticipated to witness moderate growth throughout the forecast period. Increased investment in R&D, and product innovations have been driving the growth of the market. The modern-day shingle designs have been developed to encompass desired features in weight, cost, and environment. Today through advances in manufacturing technology, asphalt shingles are environment friendly, cost-effective, sturdy, and light in weight. However, fluctuation in material prices and unavailability of skilled labor, is expected to hinder the growth of the market.
North America region, to see a gradual increase in the Asphalt Shingles market over the forecast period
Based on region, the global asphalt shingles market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America region dominated the global market, followed by Europe, primarily due to the climatic conditions, and increasing investments in Research & Development for advanced materials along with stable growth in the private construction market for both new construction and remodelling projects. US is the leading market in North America. Moreover, various benefits of asphalt shingles such as cost-effectiveness, durability, and energy saving capabilities has further enhanced the demand for the same.
Renovation/Remodeling segment, to occupy a dominant position in the overall asphalt shingles market
Based on Application, the Renovation/Remodeling segment is expected to exhibit maximum growth rate between the period of 2018 to 2023. The reason is attributed to the increased spending in the residential as well commercial complexes on remodeling and repair works. This in turn has created lot of demand for asphalt shingles in the both the residential and commercial construction segment.
Global Asphalt Shingles Market, 2016-2023 (USD Million)
Source: MRFR Analysis
Scope of the Report
This study provides an overview of the global asphalt shingles market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global asphalt shingles market by material, by type, by Application, and by region.
- By Material
- Fiberglass
- Organic
- By Type
- Heavy laminates
- Laminates
- Strip
- By Application
- New construction
- Renovation/Remodeling
- By Region
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The prominent players in the Asphalt Shingles market are Owens Corning (US), Certain Teed Corporation (US), IKO Industries, Ltd. (Canada), TAMKO Building Products, Inc. (US), Tarco, Inc. (US), Siplast, Inc. (US), Henry Company LLC (US), Malarkey Roofing Products (Portland), Polyglass U.S.A., Inc. (US), and Atlas Roofing Corporation (US) among others.
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