Canada Asphalt Shingles Market Size

Canada Asphalt Shingles Market Size

Canada Asphalt Shingles Market size exceeded USD 1.35 billion in 2020 and is estimated to grow at over 3.7% CAGR between 2021 and 2027. Increasing consumer demand for aesthetic and environment friendly roofing materials is one of the primary reasons that attributing to industry growth. The recycling of asphalt shingles is convenient and economically viable and saves valuable resources from being wasted in landfills. Growing consumer awareness related to the positive environmental contribution of asphalt shingles even after the end-of-life is a major factor impacting the product demand.

These shingles are available in a wide range of colors and varieties to offer improved aesthetics to customers along with their performance characteristics and cost-effectiveness, thereby driving market growth.
 

Canada office, retail, and lodging segment from dimensional shingles product type valued at over USD 60 million at 2020. Increasing demand for, retail, and lodging spaces is boosting the demand for various types of architectural shingles owing to its compatibility with various types of architectures is fueling the market revenue.  Rapid economic growth, expansion of business activities and growing tourism have led to increase requirement for offices and lodging area, which will stimulate the market share for asphalt shingles. Its compatibility with respect to design, color, and various architectural styles such as minimalistic, modern, and baroque is augmenting the market share.