Asphalt Shingles Market - Growth Potential, Rising Trends and Segmentation to 2025
Category: #reports  By Rahul Varpe  Date: 2020-04-17
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Asphalt Shingles Market - Growth Potential, Rising Trends and Segmentation to 2025

As per the latest research report, the global Asphalt Shingles Market is anticipated to depict a CAGR of 3.8% through 2025, having recorded a valuation of USD 7 billion in 2018 and is expected to hit a remuneration of USD 9.5 billion by 2025.

Rapid surge in urban migration and the subsequent growth of residential complexes is estimated to drive asphalt shingles market in coming years. Seeking better financial growth opportunities, a large chunk of the world’s rural population is increasingly migrating to urban areas, especially metropolitan cities. This population shift is creating immense demand for the global construction sector, especially the residential segment, fueling asphalt shingles industry share.

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The global asphalt shingles industry capitalizes on the migration trend to bring in business growth. In fact, the ideal growth conditions of asphalt shingles market go hand-in-hand with the unique housing demands created by urban migration. According to Sentry Roof Services, LLC., asphalt shingles are extremely affordable and do not require any major preparatory work or additional structural support to be installed; further increasing their affordability.

Asphalt shingles have been around for more than 100 years. According to Home Advisor Pro, the roofing solution dominates the world’s steep-slope roofing industry and accounts for more than 80% of all residential roofs. Shifting trend toward reroofing for durability, waterproofing, and economic benefits is slated to augment asphalt shingles industry size.

Market Growth Drivers –

  1. North America: Growing demand from residential construction industry
  2. Asia Pacific: Rising building construction spending

The asphalt shingles recycling trend is slated to witness a renewed momentum in the coming years. As per reliable studies, recycled asphalt shingles (RAS) used in hot-mix asphalt to pave roads helps to enhance the pavement’s performance by lowering instances of cracking and rutting. The benefits associated with the recycling of these materials will further fuel the industry expansion.

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Top Companies: -

CertainTeed Corporation, Owens Corning, TAMKO Building Products Inc., IKO Industries Ltd., Atlas Roofing Corporation, Tarco, GAF Materials, Malarkey Roofing, PABCO Roofing Products, Siplast Inc., Henry Company, Polyglass U.S.A., Building Products of Canada Corp., NBP International, Shibam Ventures

Regionally, the U.S. asphalt shingles market is anticipated to witness significant business growth over the study period. The use of these materials in housing development projects such as tract houses and in tandem with the material’s demand in maintenance and reinstallation activities will foster market growth through 2025.

Split by product type, the market has been divided into

  1. Dimensional Shingles
  2. High Performance Laminated Shingles
  3. Three-Tab Shingles

The report is inclusive of commendable information with respect the production, individual segmental growth rate, valuation, pricing, as well as segmental market share.

Split by application, the market is divided into

  1. Residential {New-residential, Residential Re-roofing}
  2. Commercial {New Commercial, Commercial Re-Roofing}

This study is inclusive of in-depth information with respect to the consumption of the product as well as application segment market share, in tandem with the growth rate likely to be registered by every application segment.

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What are the key highlights of this report?

  1. A systematic pricing analysis has been done on the sources of the product, application, as well as regional categories
  2. A detailed analysis of the vendor matrix, important companies that will help better understand the competitive situation of the global business
  3. Important, insightful data on the regulatory status of the market, as well as the investment scenario – for instance, how many stakeholders have invested in the market and so on
  4. A deep-dive understanding of the various aspects propelling the overall market growth graph, as well as their influence on the worldwide market projections and dynamics
  5. A systematic roadmap depicting the numerous growth opportunities in the worldwide market coupled with the identification of vital factors
  6. An extensive evaluation of the various trends prevailing in the global industry that would help identify the various developments in the market from a global perspective


About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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