The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the asphalt shingles market’s growth in recent years?
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 infrastructure. For instance, in November 2023, according to a report published by Atradius Collections, a Netherlands-based prominent global agency specializing in commercial debt collection, the global construction output is forecast to increase by 3.2% in 2023, and residential construction is forecast to grow only by 1.1% in 2023 and 0.6% in 2024. Therefore, the increasing demand for construction activities is driving the growth of the asphalt shingles market.
Asphalt Shingles Market Driver: Extreme Weather Conditions Drive Growth In The Asphalt Shingles
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. For instance, in March 2024, according to the World Meteorological Organization, a Switzerland-based specialized agency promoting atmospheric science, confirmed that 2023 was the warmest year on record, with the global average near-surface temperature at 1.45 degrees Celsius (with a margin of uncertainty of ± 0.12 °C) above the pre-industrial baseline. Therefore, the harsh temperature conditions are driving the growth of the asphalt shingles market.
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How does the future projection of the asphalt shingles market size compare to its historical growth?
The asphalt shingles market size has grown steadily in recent years. It will grow from $7.22 billion in 2024 to $7.51 billion in 2025 at a compound annual growth rate (CAGR) of 4.1%. 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 $8.91 billion in 2029 at a compound annual growth rate (CAGR) of 4.3%. 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.
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Which key players are shaping the future of the asphalt shingles market?
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 trends will propel the growth and evolution of the asphalt shingles market?
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.
Which regions are expected to become dominant players in the asphalt shingles market?
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.
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What are the emerging key segments in the asphalt shingles market, and how are they evolving?
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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How is the asphalt shingles market defined, and what are its core characteristics?
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.
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