North America accounted for over 80% of the overall asphalt shingles market share. Re-roofing applications for both residential and commercial markets accounted for the largest share in asphalt shingles market worldwide. Damage caused by wear & tear as well as hurricanes and storms have major impact on increasing demand for asphalt shingles from re-roofing application segments.
Asphalt Shingles Market may exceed USD 9.5 billion by 2025; according to a new research report. Increasing building construction activities, primarily growing single family housing starts in North America is expected to spur demand for roofing materials over the forecast period. New building construction activities in both, residential and non-residential markets, is expected to drive significant gains in asphalt shingles market growth.
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Asphalt shingle recycling is convenient, economically viable and saves valuable resources from being wasted into landfills. Asphalt shingles, post end-of-life are commonly recycled into pavement, which offset requirement for new asphalt and aggregates. Growing consumer awareness related to positive environmental contribution of asphalt shingles even after end-of-life have major impact driving the product demand over the projected period.
Dimensional asphalt shingles roofing materials in North America accounted for over 65% of revenue share in 2018. These shingles have become increasingly popular for higher end housing owing to its higher performance characteristics. Dimensional shingles are manufactured by laminating two or even three layers into a single unit thereby improving its performance characteristics.
Product segmentation: The report claims that the Product landscape of the Asphalt Shingles Market is subdivided into –
- Dimensional Shingles,
- High Performance Laminated Shingles,
- Three-Tab Shingles
Important pointers encompassed pertaining to the Product spectrum:
- Major details about the Product spectrum are provided in the report.
- The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.
- The market share which each of the Product segments account are mentioned in the study.
- Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.
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Residential building types accounted for over 85% of volume share in asphalt shingles application segment owing to growing consumer demand for high performance, low cost and aesthetically improved roofing materials. The residential re-roofing applications accounted for over USD 4.5 billion in 2018 primarily driven by widespread roofing damage due to unfavorable weather conditions such as storms and hurricanes.
Asia Pacific asphalt shingles market demand may witness significant gains at over 8.5% owing to strong growth in residential as well as commercial building construction activities in the region. Rising disposable income, growing urbanization and increasing construction spending of the consumers in the developing economies in the region including China, India, South Korea and Thailand is projected to drive the asphalt shingles 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. Owens Corning, CertainTeed Corporation, GAF, TAMKO and IKO are among key market players operating in the industry. Manufacturers in Eastern Europe and Asia Pacific regions are entering the market with innovative products and technology which is projected to rise competitive environment over the projected timeframe.
Partial Chapter of the Table of Content
Chapter 2 Executive Summary
2.1 Asphalt shingles industry 3600 synopsis, 2019 – 2025
2.1.1 Business Trends
2.1.2 Regional trends
2.1.3 Product trends
Chapter 3 Asphalt Shingles Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014 – 2025
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
22.214.171.124 Technology Providers
3.4 Innovation & sustainability
3.5 Regulatory landscape
3.6 Raw Material Analysis
3.7 Technology landscape
3.8 Cost structure analysis
3.9 Pricing analysis
3.10 Industry impact forces
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3.10.1 Growth drivers
126.96.36.199 North America: Growing demand from residential construction industry
188.8.131.52 Asia Pacific: Rising building construction spending
3.10.2 Industry pitfalls & challenges
184.108.40.206 Plastic roofing gaining popularity in commercial roofing segment
3.11 Growth potential analysis, 2018
3.11.1 Emerging business model
220.127.116.11 New Product Launch
18.104.22.168 Collaboration/Joint ventures
3.12 Porter’s analysis
3.13 Competitive landscape, 2018
3.13.1 Company market share analysis, 2018
3.13.2 Strategy dashboard
3.14 PESTEL analysis
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