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Top Factor Driving Asphalt Shingles Market Growth in 2025: Rising Construction Demand Fuels Growth In The Asphalt Shingles
Asphalt Shingles Market Share
The asphalt shingles market has grown steadily in recent years. It is projected to increase from $7.22 billion in 2024 to $7.51 billion in 2025, reflecting a CAGR of 4.1%. The historical growth was driven by the housing construction boom, suburbanization trends, the durability and cost-effectiveness of asphalt shingles, and an increase in renovation and replacement projects.
The asphalt shingles market is projected to reach $8.91 billion by 2029, growing at a CAGR of 4.3%. This growth is attributed to sustainability, green building, and solar-ready shingles. Trends include cool roofing, architectural designs, and smart roofing.
What Are the Primary Growth Drivers for the Asphalt Shingles Market?
The increasing demand for construction activities is expected to fuel the growth of the asphalt shingles market. Construction activities involve building or assembling infrastructure, and asphalt shingles are commonly used as roofing materials in construction. They offer diverse appearances, textures, and qualities. For example, a November 2023 report by Atradius Collections, a Netherlands-based global agency specializing in commercial debt collection, forecasted a 3.2% increase in global construction output in 2023, with residential construction expected to grow by just 1.1% in 2023 and 0.6% in 2024. Thus, the growing demand for construction activities is driving the asphalt shingles market.
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Who Are the Dominant Companies Influencing Asphalt Shingles Market Trends?
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.
How Is the Asphalt Shingles Market Evolving?
In the asphalt shingles market, companies are developing new products like laminated shingles to meet customer demands. In March 2023, Atlas Roofing Corporation, a US-based company, introduced Pinnacle, a line of architectural shingles designed to reduce heat transfer and improve energy efficiency in buildings by reflecting solar radiation.
What Are the Different Segmentations in the Asphalt Shingles Market?
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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Which Region Is at the Forefront of 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.
What Is Covered In The Asphalt Shingles Global Market Report?
- Market Size Analysis: Analyze the Asphalt Shingles Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Asphalt Shingles Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Asphalt Shingles Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Asphalt Shingles Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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