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Meeting Demand: Surging Construction Fuels Growth in the Asphalt Shingles Market || Sika AG, Owens Corning Inc., Carlisle Companies Inc., Wienerberger AG
Asphalt Shingles Market
The Business Research Company's Asphalt Shingles Global Market Report 2023 identifies the increasing harsh temperature conditions are expected to propel the growth of the asphalt shingles market going forward. Harsh temperature conditions are any extreme weather conditions that can be dangerous or life-threatening to people, animals, and plants. These conditions can include extreme heat, extreme cold, and extreme wind chill. Asphalt shingles made from a composite of asphalt and fiberglass offers an exceptional resistance to weather elements, such as UV rays, and fire.
The asphalt shingles market size has grown steadily in recent years. It will grow from $7.01 billion in 2023 to $7.31 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to housing construction boom, suburbanization trends, durability and cost-effectiveness, renovation and replacement. The asphalt shingles market size is expected to see steady growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%.
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Major competitors in the asphalt shingles market are Sika AG, Owens Corning Inc., Carlisle Companies Inc., Wienerberger AG, Soprema Group, Mueller Inc., Johns Manville Corporation, BMI Group, Braas Monier Building Group SA, Certain Teed Corporation, GAF Materials Corporation, IKO Industries Ltd.
A key trend in the asphalt shingles market includes innovation with laminated shingle products. Major companies operating in the asphalt shingles market are innovating new products, such as laminated shingles, to meet customer demands. Architectural shingles, also known as laminated or dimensional shingles, are a type of roofing material used in construction designed to enhance aesthetics and durability for buildings compared to traditional three-tab asphalt shingles. For instance, in March 2023, Atlas Roofing Corporation, a US-based building material manufacturing company, launched Pinnacle, a line of architectural shingles.
Read More On The Global Asphalt Shingles Market Report Here: https://www.thebusinessresearchcompany.com/report/asphalt-shingles-global-market-report
The asphalt shingles market is segmented -
1) By Product Type: Dimensional Shingles, High-Performance Laminated Shingles, Three-Tab Shingles
2) By Composition: Organic Asphalt Shingles, Fiberglass Asphalt Shingles
3) By Application: Residential, Commercial
4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the asphalt shingles market.
The Business Research Company's "Global Asphalt Shingles Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Asphalt Shingles Market Include:
1. Executive Summary
2. Asphalt Shingles Market Characteristic
3. Asphalt Shingles Market Trends And Strategies
4. Asphalt Shingles Market - Macro Economic Scenario
5. Asphalt Shingles Market Size And Growth
……………
27. Asphalt Shingles Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Asphalt Shingles Market
29. Asphalt Shingles Market Future Outlook And Potential Analysis
30. Appendix
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