Asphalt Shingles Market size worth $9.5 Bn by 2025

Asphalt Shingles Market size is set to reach USD 9.5 billion by 2025; according to a new research report by Global Market Insights Inc.
 

Rise in urban population owing to population shift from villages & towns to metropolitans is poised to drive the asphalt shingles industry in roofing applications. Asphalt shingles market size from residential applications is forecast to observe significant gains at over 3% through 2025.

 

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Rise in disposable income & nuclear families, on account of inclination to buy private property, and supportive government initiatives on residential construction is fostering the asphalt shingles industry. It has clean & minimalistic aesthetic properties, available in different colors, designs, cuts, and forms.
 

The demand for high performance laminated shingles market is set to hit USD 1.1 billion by 2025. Increase in renovation & construction activities propelled by rising inclination of millennials to have their own house in Eastern European economies such as Romania, Bulgaria, Slovenia, and Serbia will accelerate the market revenue. High performance laminated asphalt shingles are the premium products and are majorly utilized in various residential building structures including villas, duplexes, town houses and bungalows. They are manufactured with a heavier base mat with multiple layers which gives them durability, aesthetically sophisticated and minimalistic look which will increase market share.
 

Browse key industry insights spread across 300 pages with 446 market data tables and 24 figures & charts from the report, “Asphalt Shingles Market Size By Product (Dimensional Shingles, High Performance Laminated Shingles, Three-Tab Shingles), By Application (Residential {New-residential, Residential Re-roofing}, Commercial {New Commercial, Commercial Re-Roofing}) Commercial By Building Type (Office, Retail & Lodging, Industrial, Institutional), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/asphalt-shingles-market
 

U.S. high performance laminated shingles market to see more than 3% growth rate till 2025. Increasing awareness on weatherability and durability characteristics in construction led by volatile climatic conditions such as snow, high winds, blizzards, cyclones, and high wind will foster regional growth. Robust gains in renovation and construction activity will boost the sales of asphalt shingles in roofing applications due to waterproofing, durability, and economic benefits characteristics.  
 

UK dimensional shingles market is expected around 5.35 million square meters consumption by 2025. Strict regulatory framework by EU regarding green & sustainable construction activities will boost the demand for organic asphalt mat-based shingles. Their aesthetic characteristics such as light weight, and ability to withstand damp conditions will support demand. The proportion of population living in semi-detached houses is highest that is over 60% in UK among EU member states indicates higher number of detached and semi-detached housing structures in the country thereby augmenting the demand for asphalt shingles as a roofing material.
 

Japan three-tab asphalt shingles market revenue is anticipated to register significant gains of above 4% through 2025. Rising population coupled with supportive government initiatives in promoting research development will positively influence the market under institutional construction. Increase in funding to physical, and biological sciences will increase construction of laboratories which will likely to spur market expansion.
 

Owens Corning, CertainTeed Corporation, TAMKO Building Products, IKO Industries, Tarco, GAF Materials, IKO Industries, Henry Company, Shibam Ventures, and NBP International are the key asphalt shingles market participants. These companies are focusing to widen their product line by stringent research to make their products compatible to various climatic conditions, application type, and within green construction regulations to increase geographical presence.
 

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