According to Acumen Research and Consulting, the global Asphalt Shingles market is expected to grow at noteworthy CAGR around 7.5 % throughout the forecast period and reach around US$ 11 billion by 2026.
The most popular roofing materials for various building projects worldwide are asphalted shingles. The roofs in single buildings, tiny housing projects and house rows are frequently used. Asphalt shingles are used mainly to safeguard households against thunds, fire, algae and moose and hail storms. Asphalt hammers efficiently represent thermal waves in the summer and decrease the need to maintain cool homes for the air conditioning. The colors and textures of the box are broad ranging. They are used more and more to improve the esthetic attractiveness of homes.
The report provides analysis of global Asphalt Shingles market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Asphalt shingles offer tiny investment for esthetic attraction and security. In addition, they are economical, light weight, easily installed and replaceable if they are damaged. The demand for asphalt hinges is expected to boost in the near future, as expenditure on residential construction and refurbishment rises. Asphalt shingles demand in the U.S. rose in 2018 as numerous severe weather incidents broke out, creating substantial demand for re-roofing.
On a Composition basis the worldwide market for asphalt shingles can be divided into fibreglass asphalt shingles and organic asphalt shingles. Organic shingles of asphalt contain asphalt 45 percent more per square meter than shingles of fiberglass and are heavier than shingles of the latter. While organic shingles from asphalt are environmentally friendly, they are susceptible to fire dangers, so they are not used as commonly as shingles from asphalt fiberglass. Asphalt fiberglass shingles are produced from a glass fibre-reinforced mat base layer, making them tear and split resistant. Asphalt fiberglass jars are light weight, simple to install, fireproof and cheaper than asphalt jackets from organic sources.
Easy replacement characteristics Sustainable adoption of asphalt shingles cost-effectiveness
The industry offers a wide variety of roofing materials based on financial, esthetic, performance and structural requirements. The roof drawings have become an architectural trademark over the last few years. These changes were affordable, structurally solid and esthetically appealing, along with environmentally friendly models. Asphalt shingles have been the most favored choice for customers in this extremely competitive roofing industry. While the asphalted shingles are less durable than the more high quality roofing materials including clay tiles, slate, metal and cedar shake, the asphalt shingles allow an adequate esthetic appeal and protection at a mere fraction of the cost of other roofing systems. This has resulted in the adoption, for roofing, of a number of house owners. As the housing construction expenditure is anticipated to increase, there is a risk that asphalt shingles will increase in the near future.
Global warming has now revamped climate change, making it possible to experience snow and extreme cold weather in nations with subtropical winters. This extreme weather covering different areas is one of the main factors that contribute in terms of the cost-effectiveness and easy replacement of asphalt shingles in the roofing system. However, the supply and demand of asphalt shingles are most probably affected by different variables. For example, the cost of petroleum-based products used for the production of asphalt shingles from outside or from home.
Market for Asphalt Shingles categorised by Long-Term Relationships between Manufacturers & Customers
The market for asphalt shingles is categorized by its long-term and established connections between producers and homeowners on the grounds of strong brand allegiance. Global manufacturers of asphalt shingles concentrate on strengthening their reputation by distinguishing products and providing better quality standards than their rivals. Core players on the market are now focusing on implementing business strategies to develop advanced and sophisticated product development methods, a profound understanding between clients and the market, and on implementing a proven manufacturing method to gain a competitive advantage. Other main strategies, such as a extensive product portfolio and quality service provision, are expected to play an essential role in enhancing players ' market presence. The worldwide market for asphalt shingles is projected to account for approximately US$ 11 billion in profits by the end of 2026 in a recent research by Acumen Research and Consulting, ARC.
In the coming few years, there is anticipated to be an increasing demand for asphalt shingles in the non-residential and residential industries owing to industrial growth in Asia Pacific and fresh building projects in the area. The project is expected to increase the need for roofing equipment, including asphalt shingles, in the Asia-Pacific during the forecast era for the development and rehabilitation of SEZs, IT parks, airports, and housing projects in developing countries, like India, China and Indonesia. In the United States, many ancient structures and homes have older three-staff shingles, which do not conform to present building codes. As a replacement for uncompliant, older three-tab shingles in the United States, the growing demand for fibre-glass asphalt shingles is driving the asphalt shingles industry in the nation. During the forecast period, the Middle East & Africa (MEA) is likely to stay the world's less profitable asphalt shingle market.
Global Asphalt Shingles Market, By Product Type
Global Asphalt Shingles Market, By Composition
Global Asphalt Shingles Market, By End Use
Global Asphalt Shingles Market, By Geography
The market research study on “Asphalt Shingles Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Asphalt Shingles market segments with market dynamics and their impact. The report also covers basic technology development policies.
The report provides a thorough market assessment. This is done through profound qualitative insights, historical information and verifiable market size projections. The predictions in the study are based on established methods and assumptions for studies. This study report acts as an analytical and data repository for all aspects of the industry.
Key Players & Strategies
Major players operating in the global asphalt shingles market are Industries, Ltd., Siplast, Inc., CertainTeed, TAMKO Building Products, Inc., coPal ApS, Building Products of Canada, Atlas Roofing Corporation, Polyglass S.p.A, Malarkey Roofing, IKO Henry Company, Owens Corning, Tarco, Inc., PABCO, Braas Monier Building Group, LLC, GAF U.S., and GCP Applied Technologies Inc.
Branding, advertising and consumer consciousness are the main focus of industry respondents. Significant players adopt different approaches, such as fusions and acquisitions and geographical and product development. In 2016, IcoPal has been procured as one of the biggest roofing companies in the globe by GAF Materials Corporation.
In order to maintain product quality under control, many roofing product producers focus on backwards integration. In order to meet the growing demand, the industry members emphasize the expansion of their product portfolios by creating innovative alternatives and cheaper products with superior characteristics.
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