Strong Growth Ahead: Asphalt Shingles Market Size To Grow At Arecord 4.3% Cagr By 2029

The Asphalt Shingles Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Asphalt Shingles Market Size Expected to Be by 2034?
Having been on a steady growth trajectory in the past few years, the asphalt shingles market size is predicted to expand from $7.22 billion in 2024 to $7.51 billion in 2025 with a compound annual growth rate (CAGR) of 4.1%. Factors such as a boom in housing construction, trends towards suburbanization, durability and cost-effectiveness, as well as renovation and replacement have all contributed to the historic period's growth.

The asphalt shingles market is projected to witness consistent expansion in the forTH*Coming years, with its valuation anticipated to rise to $8.91 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. This growth over the projected period can be linked to factors such as sustainability and green building initiatives, extreme weather phenomena, as well as both residential and commercial construction activities, and the advent of solar-ready shingles. Key trends for the forecast period include technological progression, the inception of cool roofing, the innovation of architectural shingle designs, and the development of smart roofing.

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What Are the Emerging Segments Within the Asphalt Shingles Market?
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

Subsegments:
1) By Dimensional Shingles: Architectural Shingles, Premium Laminated Shingles
2) By High-Performance Laminated Shingles: Impact-Resistant Shingles, Energy-Efficient Shingles
3) By Three-Tab Shingles: Standard Three-Tab Shingles, Lightweight Three-Tab Shingles

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What Long-Term Drivers Are Shaping Asphalt Shingles Market Trends?
The asphalt shingles market is anticipated to expand due to the growing need for construction activities. Construction activities refer to the different processes involved in constructing buildings and infrastructure. Asphalt shingles, which are frequently utilized in edifice construction, add a fresh aesthetic and quality to the structures. According to a report released by Atradius Collections, a Netherlands-based commercial debt collection company, in November 2023, the worldwide construction output is projected to increase by 3.2% in 2023. Additionally, residential construction is expected to grow at a slower pace, with an increase of only 1.1% in 2023 and 0.6% in 2024. Thus, the rise in construction activities is fueling the asphalt shingles market's growth. Market Growth Driver for Asphalt Shingles: Increase in Extreme Weather Conditions

Who Are the Top Competitors in Key Asphalt Shingles Market Segments?
Major companies operating 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.

What Asphalt Shingles Market Trends Are Gaining Traction Across Different Segments?
Leading corporations in the asphalt shingles market are focusing on product innovation like the creation of laminated shingles in order to satisfy customer needs. Laminated shingles, also referred to as architectural or dimensional shingles, serve as a valuable roofing option used in construction, offering elevated aesthetics and resilience for structures compared to the conventional three-tab asphalt shingles. For example, Atlas Roofing Corporation, an American company that manufactures building materials, unveiled its line of architectural shingles named Pinnacle in March 2023. These shingles are designed to repel solar radiation from the roof, which reduces the amount of heat entering the living spaces. The effect is a decrease in cooling needs and an increase in overall energy efficiency in homes. Pinnacle Sun shingles, in particular, are highly beneficial in areas where cooling is needed all year round, as they provide cool-roofing solutions that aid in reducing indoor air temperatures.

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Which Regions Are Becoming Hubs for Asphalt Shingles Market Innovation?
North America was the largest region in the asphalt shingles market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in asphalt shingles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Asphalt Shingles Market?
2. What is the CAGR expected in the Asphalt Shingles Market?
3. What Are the Key Innovations Transforming the Asphalt Shingles Industry?
4. Which Region Is Leading the Asphalt Shingles Market?

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