“Global Asphalt Shingles Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global asphalt shingles market report has been segmented on the basis of product type, material, application, and region.
Global Asphalt Shingles Market: Overview
Asphalt shingles are wall/roof shingles that uses asphalt for waterproofing. There are a variety of shingles available that rank from low-grade to high-grade. Asphalt shingle is the most favorite choice of the consumer and allows it to install on structures owing to unique properties which helps it to withstand with high wind, fire, and other climatic conditions. It is available in a wide range of style, and colors with advancements as compare to other roofing products. Moreover, various benefits of asphalt shingles such as cost-effectiveness nature, durability, and energy saving capabilities has further enhanced demand for the target product.
Global Asphalt Shingles Market: Dynamics
The global asphalt shingles market is expected to register a significant growth rate over the forecast period owing to factors such as growing demand for roofing materials along with affordable price, environment friendly properties, and aesthetically attractive designs. Development of high-performance laminated asphalt shingles and increasing adoption of eco-friendly materials for roofing of commercial and residential infrastructures, is also expected to propel growth of the target market during the forecast period. Recent trend shows that, several companies focusing on broad range of product offerings which can create a lucrative opportunity for growth of the global market.
However, availability of other alternatives products including clay tiles, metal, slate, and cedar shake may hamper demand for asphalt products and restrain growth of the target market during the forecast period.
Global Asphalt Shingles Market: Segment Analysis
On the basis of product type, the target market is segmented into laminates asphalt shingles, three-tab shingles, strips, and luxury shingles. The strip asphalt shingles segment is expected to register significant growth rate in the target market over the forecast period.
Among the material segment, the fiberglass asphalt shingles contributes leading market share and is anticipated to dominate the global market throughout the forecast period.
On the basis of application, the target market is segmented into new construction and renovation/remodeling. The renovation/remodeling segment is accounted for larger market revenue share owing to increasing demand for asphalt shingles in new construction and expected to increase at a higher CAGR over the forecast period.
Asphalt Shingles Market: Region Analysis
The market in North America and Europe are accounts for significant share in terms of revenue, and is projected to maintain its dominance during the forecast period owing to adverse climate conditions along with increasing investments in R&D for advanced materials in countries in the region. The Asia Pacific asphalt shingles market is estimated to grow at highest CAGR over the forecast period, owing to increasing construction projects coupled with high investments in commercial as well as residential sector in countries. In addition, rising infrastructure development activities and renovation projects in the region are some of the other factors, anticipated to fuel growth of the target market. Moreover, increasing focus on product innovation in order to improve the aesthetics of buildings is anticipated to bolster demand for the asphalt shingles market in the region. The market in Middle East & Africa accounts for moderate share in terms of revenue in the global market and is expected to witness considerable growth over the next 10 years.
Global Asphalt Shingles Market Segmentation:
Segmentation by Product Type:
- Laminates Asphalt Shingles
- Three-tab Shingles
- Luxury shingles
Segmentation by Material:
Segmentation by Application:
- New construction
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Owens Corning
- CertainTeed Corporation
- IKO Industries, Ltd.
- TAMKO Building Products, Inc.
- Tarco, Inc.
- Siplast, Inc.
- Henry Company LLC
- Malarkey Roofing Products
- POLYGLASS S.p.A
- Atlas Roofing Corporation
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