Global Asphalt Shingles Market to Exceed $ 9.5 BN valuation by 2025

February 24, 2020


According to the latest research report titled ‘Asphalt Shingles Market Size By Product (Dimensional Shingles, High Performance Laminated Shingles, Three-Tab Shingles), By Application (Residential {New-residential, Residential Re-roofing}, Commercial {New Commercial, Commercial Re-Roofing}) Commercial By Building Type (Office, Retail & Lodging, Industrial, Institutional), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Thailand, Brazil, Argentina, South Africa, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global asphalt shingles market is anticipated to cross $9.5 billion by the year 2025.
 

Growing construction activities across non-residential and residential sectors are projected to push the asphalt shingles market outlook. Increasing single-family housing in North America is proliferating the construction sector in the region, thereby surging the demand for roofing materials. This factor, coupled with the ability of asphalt shingles to be recycled conveniently which makes them eco-friendly and cost-effective is fueling the market growth through 2025.
 

Based on the product type, dimensional asphalt shingles market segment in North America accounted for more than 65% revenue share in 2018. Dimensional shingles are produced from laminating two or three layers in one unit further enhancing its performance characteristics. They are extensively used in higher-end housing. The high-performance characteristics of these shingles are driving their demand in the industry.
 

Speaking of the application segment, residential segment contributed more than 85% of the total volume share of asphalt shingles market in 2018, due to increasing customer demand for low cost, high performance, and aesthetically enhanced roofing materials. Moreover, residential re-roofing segment was worth more than $4.5 billion in 2018, primarily pushed by heavy damage in roofs owing to unfavorable weather conditions like hurricanes and storms.
 

Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/2105468/
 

Regionally, Asia Pacific asphalt shingles market is anticipated to observe a growth at more than 8.5% through the forthcoming timespan. Increasing construction activities across the residential and commercial sectors across Asia Pacific is proliferating the asphalt singles market share. Growing urbanization in the emerging economies, increasing disposable income as well as mounting expenditure over construction activities by the customers in India, China, Thailand, and South Korea will possibly add up to the overall asphalt shingles market growth.
 

The competitive landscape of asphalt shingles market is inclusive of players such as IKO, TAMKO, GAF, CertainTeed Corporation, and Owens Corning among others.      


Frequently Asked Questions (FAQ) :

Growing construction activities across non-residential and residential sectors are projected to push the asphalt shingles market outlook. Increasing single-family housing in North America is proliferating the construction sector in the region, thereby surging the demand for roofing materials. This factor, coupled with the ability of asphalt shingles to be recycled conveniently which makes them eco-friendly and cost-effective is fueling the market growth through 2025.
Speaking of the application segment, residential segment contributed more than 85% of the total volume share of asphalt shingles market in 2018, due to increasing customer demand for low cost, high performance, and aesthetically enhanced roofing materials. Moreover, residential re-roofing segment was worth more than $4.5 billion in 2018, primarily pushed by heavy damage in roofs owing to unfavorable weather conditions like hurricanes and storms.
Regionally, Asia Pacific asphalt shingles market is anticipated to observe a growth at more than 8.5% through the forthcoming timespan. Increasing construction activities across the residential and commercial sectors across Asia Pacific is proliferating the asphalt singles market share. Growing urbanization in the emerging economies, increasing disposable income as well as mounting expenditure over construction activities by the customers in India, China, Thailand, and South Korea will possibly add up to the overall asphalt shingles market growth.
The competitive landscape of asphalt shingles market is inclusive of players such as IKO, TAMKO, GAF, CertainTeed Corporation, and Owens Corning among others.