Asphalt Shingles Market Size, Emerging Trends, Market Opportunities, Key Players And Forecast To 2033

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%. The growth in the forecast period can be attributed to sustainability and green building, extreme weather events, residential and commercial construction, solar-ready shingles. Major trends in the forecast period include technological advancements, cool roofing, architectural shingle designs, smart roofing.

Market Overview -
Asphalt shingles refer to a type of roofing material comprising individual overlapping elements formulated from a blend of asphalt and fiberglass. The asphalt shingles are coated with a granular surface that amplifies the shingle's surface area, enabling them to effectively resist the sun's UV rays, which in turn helps maintain cooler roof temperatures.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13030&type=smp

Surging Construction Demand Fuels Growth In The Asphalt Shingles Market
The increasing demand for construction activities is expected to propel the growth of the asphalt shingles market going forward. Construction activities refer to the processes involved in assembling buildings or infrastructure. Asphalt shingles are commonly used roofing materials in construction activities of buildings, providing new appearance, textures and qualities to infrastructures. For instance, in October 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020 and between 2020 and 2030, it is expected to increase by 42%, or $4.5 trillion, to reach $15.2 trillion. Therefore, the increasing demand for construction activities is driving the growth of the asphalt shingles market.

Competitive Landscape -
Major players 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., Atlas Roofing Corporation, Holcim Building Envelope, TAMKO Building Products Inc., Henry Company LLC, Malarkey Roofing Products Co., Building Products of Canada Corp., Siplast Inc., Englert Inc., Polyglass U.S.A Inc., Marley Eternit Ltd., Versico Roofing Systems Inc., Canroof Corporation Inc., TARCO Roofing Materials Inc., SaintGobain SA, DECRA Roofing Systems Inc., PABCO Building Products LLC, Ruberoid Team AG, Premier Building Systems.

Leading Companies In The Asphalt Shingles Market Drive 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. These tiles are designed to deflect solar radiation from the roof, thus limiting heat transfer into the house. As a result, this reflectivity lowers the need for cooling and raises the home's overall energy efficiency. Pinnacle Sun shingles are especially useful in regions where year-round cooling is required, as they offer cool-roofing solutions that help decrease indoor air temperatures.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/asphalt-shingles-global-market-report

Key Segments -
The asphalt shingles market covered in this report 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.