Asphalt Shingles Market 2019 – 2024 Study by Key Trends, Growth Factors & Leading Players

North America accounted for over 80% of the overall asphalt shingles market share. Re-roofing applications for both residential and commercial markets accounted for the largest share in asphalt shingles market worldwide. Damage caused by wear & tear as well as hurricanes and storms have major impact on increasing demand for asphalt shingles from re-roofing application segments.

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Asia Pacific asphalt shingles market demand may witness significant gains at over 8.5% owing to strong growth in residential as well as commercial building construction activities in the region. Rising disposable income, growing urbanization and increasing construction spending of the consumers in the developing economies in the region including China, India, South Korea and Thailand is projected to drive the asphalt shingles demand.

Asphalt Shingles Market by Product Analysis:

Product segmentation: The report claims that the product landscape of the Asphalt Shingles is subdivided into –

• Dimensional Shingles
• High Performance Laminated Shingles
• Three-Tab Shingles

Important pointers encompassed pertaining to the product spectrum:
• Major details about the product spectrum are provided in the report.
• The study elaborates on the remuneration forecast of each of the product categories by the end of the anticipated duration.
• The market share which each of the product segments account are mentioned in the study.
• Also, the most proliferating trends that the product spectrum is characterized by are also entailed.

Dimensional asphalt shingles roofing materials in North America accounted for over 65% of revenue share in 2018. These shingles have become increasingly popular for higher end housing owing to its higher performance characteristics. Dimensional shingles are manufactured by laminating two or even three layers into a single unit thereby improving its performance characteristics.

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Increasing building construction activities, primarily growing single family housing starts in North America is expected to spur demand for roofing materials over the forecast period. New building construction activities in both, residential and non-residential markets, is expected to drive significant gains in asphalt shingles market growth.

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

Manufacturers in Eastern Europe and Asia Pacific regions are entering the market with innovative products and technology which is projected to rise competitive environment over the projected timeframe.

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