Asphalt Shingles Market Research Report, By Type (Heavy laminates, Laminates, Strip), Material (Fiberglass, and Organic), Application (New construction, Renovation/Remodeling) and Region — Global Forecast till 2023

The Asphalt Shingles market is expected to grow over the CAGR of around 5.8% during the period 2018 to 2023.

Market Highlights

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.

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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.

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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