Asphalt Shingles: Market Dynamics, Major Companies Analysis and Forecast- 2027

 The global asphalt shingles market is growing rapidly. The market growth attributes to the burgeoning construction industry. Asphalt tiles make innovative roofing solutions to reduce interior temperatures while benefitting the environment. Besides, the increasing demand for asphalt shingles from commercial and residential sectors accelerates the market growth.

With the rising demand for asphalt shingles, the market value is projected to escalate further. According to Market Research Future (MRFR), the global asphalt shingles market is expected to create exponential value by 2027, growing at an impressive CAGR during the forecast period (2020 to 2027).

Moreover, global warming issues with scorching summers substantiate the market demand, raising temperatures inside the building. Asphalt shingles are energy efficient and less reliant on mechanical cooling, powered by an already strained power grid. It supports creating a greener economy, providing substantial energy savings, which increases the asphalt shingles market size.

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Global Asphalt Shingles Market – Segmentation

The asphalt shingles market analysis is segmented into types, materials, applications, and regions. The type segment is sub-segmented into heavy laminates, laminates, and strips. The material segment is sub-segmented into fiberglass and organic.

The application segment is sub-segmented into new construction and renovation/remodeling. The region segment is sub-segmented into Europe, North America, Asia Pacific, and rest-of-the-world. 

Global Asphalt Shingles Market – Regional Analysis 

North America and Europe account for leading asphalt shingles market shares globally. Factors such as harsh climate conditions and increased spending in R&D for innovative materials in these regions drive the asphalt shingles market growth. Increase in the number of buildings and significant investment in commercial and residential development projects are other major asphalt shingles market trends. 

Global Asphalt Shingles Market – Competitive Analysis 

Fiercely competitive, the asphalt shingles market appears fragmented due to the presence of many well-established players. Players adopt strategies like mergers & acquisitions, collaboration, expansion, and product/ technology launch to gain a larger competitive share. They invest substantially in product development and geographical expansion.

The market is projected to witness relentless innovations and new product launches, which would further intensify market competition. Strong financial support becomes the sole priority of suppliers to sustain in the market. To minimize the overall cost of their products, manufacturers adopt cost-effective manufacturing techniques. 

Major Players

Players leading the global 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 USA, Inc. (US), Atlas Roofing Corporation (US), among others. 

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Industry News:

April 19, 2020 --- GAF, an operating company, announced the development of a new patented process to recycle asphalt shingles, creating a circular roofing system that the company aims to streamline into its entire product line. In North America, predominantly in the US, about 75% of roofs are covered by asphalt shingles due to low cost, water-repelling qualities, and ease of installing these materials. 

Environmental Protection Agency (EPA) states that around 11 MN tons of asphalt waste are generated every year and most of which ends up in landfills, taking about 300 years to decompose and putting strain on the environment. Solving the environmental toll has always been a priority for GAF. As the company continues to expand and evolve, it looks forward to creating change to combat the world's growing climate change crisis.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Magarpatta Road, Hadapsar,
Pune 411028
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