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2019 – 2025 | Asphalt Shingles Market Key Growth Opportunities and Competitive Landscape

Author : Rahul Varpe | Published Date : 2019-10-02 

The Asphalt Shingles Market study added by Global Market Insights presents a detailed analysis of the influential trends prevailing in this business sphere. This research report also offers definitive information concerning the commercialization of this vertical, market size, and revenue estimation of this industry. The study explicitly illustrates the competitive standing of key players over the projected timeline while incorporating their individual portfolios & geographical expansion.

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.

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Demand for roofing shingles in the U.S. will escalate gradually, spurred by the rise in expenditure on residential building construction. Rising housing starts, especially in terms of single-family houses, will boost the demand for asphalt shingles as builders and constructors choose these products due to their affordable prices and ease of installation.

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.

Owing to considerable increase in residential and industrial construction activities using reliable, cost-effective materials, demand for asphalt shingles is expected to rise notably over the projected period. Industry players are coming up with new and innovative roofing systems to expand their portfolio and ready themselves for probable green building regulations in the future. Reports estimate that global asphalt shingles market will reach annual revenues of over USD 9.5 billion by 2025.

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, GAF, TAMKO, IKO.

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Asphalt Shingles Market by Product Analysis:

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

A 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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. 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 online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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