Trends, analysis, SWOT and regional coverage that is available in Asphalt Shingles Market report offers market intelligence that help readers in strategic choices that business demands. Moreover, this research can be tweaked to cover specific requirements of a client or completely customized for a particular company.
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U.S. population is projected to reach over 345 million by 2025, a nearly 5% increase from 2018 numbers. The residential re-roofing sector will also witness an upsurge in demands for the product as residents will look to replace older worn out roofs along with other important structural components.
Asphalt shingles market from commercial applications can be expected to register considerable gains on account of the growing manufacturing activities in the Asia-Pacific belt, creating higher demand for the material. These is accelerating development of a variety of industrial infrastructure properties such as logistic houses, factories and warehouses in the region. Increasing construction and renovation remodeling activities for old houses in European countries, attributed to rapid urbanization and rising disposable income, will bring in added revenues.
High-performance laminated asphalt shingles have been become one of the most widely used roofing solutions in recent times. Depending upon the installation and choice of shingles, most of the high-performance laminated shingles have a lifespan of more than three decades. These are available in a variety of colors and designs to complement any structure, which makes it a popular choice amongst people and for vast residential complexes. Moreover, these shingles are about 75% less expensive as compared to actual wood shakes, which will further expand the asphalt shingles market forecast.
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Key factor driving the consumption of building materials is globalization, which has created a substantial impact on communities, with people and ideas influencing construction techniques worldwide. Constantly rising purchasing power of consumers have allowed to opt for modern and varied type of building designs for their private residencies, allowing the penetration of asphalt shingles that can be obtained in desired colors. The capability to provide different aesthetic and functional properties to distinct parts of a building will certainly catapult asphalt shingles market outlook in the near future.
Rapid urbanization combined with growing inclination of builders towards advanced, high quality roofing systems will drive asphalt shingles market expansion across the global construction sector. The industry has apparently witnessed an upsurge in deployment of asphalt shingles, attributed to several benefits of the material including strength, durability, heat reflectivity, and waterproofing properties. Stringent protocols by regulatory bodies such as ASTM International to encourage the use of ecological and sustainable construction materials is expected to fuel product demand.
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Global asphalt shingles market share is highly consolidated with majority of the market players located in the U.S. offering wide range of product verities across the globe. Key market players operating in the industry are:
- Owens Corning
- CertainTeed Corporation
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