Asphalt Shingles Market
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The global asphalt shingles market was valued at USD 8.8 billion in 2024 and is estimated to grow at a CAGR of over 4% from 2025 to 2034. The global rise in residential construction, particularly in emerging economies, and the continued growth in North American markets, is one of the primary drivers for the market growth. As urbanization continues and more homes are being built or renovated, the demand for affordable and durable roofing materials like asphalt shingles remains high.
Asphalt shingles are particularly favored in new residential homes due to their cost-effectiveness and easy installation, offering a reliable roofing solution for builders and homeowners. In particular, replacing old or damaged roofing materials with asphalt shingles is a common and cost-effective choice for roof upgrades. The relatively low cost compared to alternatives like metal, slate, or clay tiles makes asphalt shingles an attractive choice for homeowners who are looking for a balance between performance, aesthetics, and affordability.
Report Attribute | Details |
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Base Year: | 2024 |
Asphalt Shingles Market Size in 2024: | USD 8.8 Billion |
Forecast Period: | 2025 – 2034 |
Forecast Period 2023 - 2032 CAGR: | 4 |
2023 Value Projection: | USD 13 Billion |
Historical Data for: | 2021 - 2023 |
No of Pages: | 220 |
Tables, Charts & Figures: | 180 |
Segments Covered: | Product Type, Composition, Pricing, Installation, End-use, Distribution Channel and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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A significant trend in the asphalt shingles industry is the increasing focus on sustainability and environmental impact reduction. As consumers and governments push for more sustainable building materials, manufacturers are responding by producing asphalt shingles that are made with recycled content and are themselves recyclable at the end of their lifespan. The push towards “green” building practices is driving innovations in asphalt shingle production, with many brands now offering shingles with a higher percentage of recycled materials, such as post-consumer recycled asphalt, rubber, and other components.
The durability and performance characteristics of asphalt shingles have made them a preferred choice for roofing, particularly in regions that experience varied weather conditions. Asphalt shingles are designed to withstand a wide range of climates, from hot and humid conditions to freezing temperatures. They are durable, can resist high winds, and are effective in protecting homes from rain, snow, and hail. This level of weather resistance makes asphalt shingles especially popular in areas prone to severe weather events like hurricanes, snowstorms, and heavy rainfall.
Based on product type, the architectural asphalt shingles segment accounted for revenue of around USD 4 billion in 2024 and is estimated to grow at a CAGR of around 4.4% from 2025 to 2034. Architectural shingles offer a more sophisticated, textured appearance, mimicking the look of high-end roofing materials such as wood shake, slate, or tile. Their enhanced curb appeal makes them especially popular among homeowners looking to improve the aesthetic value of their homes. These shingles are thicker and more durable than traditional shingles, offering superior resistance to harsh weather conditions such as high winds, heavy rain, and extreme temperatures.
Based on the composition, the fiberglass segment held around 61% share of the asphalt shingles market in 2024 and is anticipated to grow at a CAGR of 4.3% during 2025 to 2034. Fiberglass shingles are lightweight yet strong, providing excellent protection against high winds and extreme weather conditions. They are less prone to curling and warping over time compared to organic shingles. This makes them highly attractive for consumers in regions that experience severe weather such as hurricanes, storms, and high winds. Many fiberglass shingles come with reflective coatings that help reduce heat absorption, contributing to better energy efficiency in homes. This is a growing trend, especially in regions with hot climates.
U.S. region dominated around 82% share of the North America Asphalt Shingles market in 2024. North America is experiencing significant growth in both residential construction and infrastructure development. In the northern regions of North America, particularly in Canada and the northern United States, asphalt shingles are favored for their ability to withstand cold temperatures and snow loads. Organic asphalt shingles, with their flexibility, are particularly suitable for these cold climates, where the roofing material must endure freezing temperatures and heavy snowfall.
In 2024, key companies like GAF Materials Corporation, IKO Industries, Johns Manville, Malarkey Roofing Products, Owens Corning, Owosso Motor Company, Pabco Roofing Products and Saint-Gobain held a combined market share of 5%-10%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions.
Resellers that consistently deliver high-quality products and reliable performance often secure a competitive advantage. Upholding stringent testing and refurbishment standards is crucial for earning customer trust. Introducing warranties or return policies can distinguish resellers in the market. By offering customer support and repair services, resellers bolster buyer confidence, rendering them more appealing. A robust online presence, characterized by user-friendly websites and active social media engagement, enables resellers to connect with a wider audience. Strategic marketing initiatives can further differentiate them from their competitors.
Major players operating in the asphalt shingles industry are:
Market, By Product Type
Market, By Composition
Market, By Pricing
Market, By Installation
Market, End Use
Market, Distribution Channel
The above information is provided for the following regions and countries:
The fiberglass segment held a 61% share of the asphalt shingles market in 2024 and is anticipated to grow at a 4.3% CAGR from 2025 to 2034, as they offer lightweight strength and better energy efficiency in hot climates.
The global market for asphalt shingles was reached USD 8.8 billion in 2024 and is projected to grow at a 4% CAGR from 2025 to 2034, driven by increasing residential construction activities globally.
Key players in the asphalt shingles market include Atlas Roofing Corporation, Boral Limited, Bridgestone, Duro-Last Roofing, GAF Materials Corporation, IKO Industries, Johns Manville, Malarkey Roofing Products, Owens Corning, Owosso Motor Company, Pabco Roofing Products, Saint-Gobain, Soprema, and Tamko Building Products.
The U.S. accounted for 82% of the North America asphalt shingles market in 2024, supported by growth in residential construction and the material's ability to withstand cold temperatures and snow loads in northern regions.
The architectural asphalt shingles segment generated USD 4 billion in 2024 and is expected to grow at a 4.4% CAGR from 2025 to 2034, due to their aesthetic appeal and superior durability against harsh weather conditions.