Top Factor Driving Asphalt Shingles Market Growth in 2025: Rising Construction Demand Fuels Growth In The Asphalt Shingles

How Are the key drivers contributing to the expansion of the asphalt shingles market?
The surge in construction activities is predicted to fuel asphalt shingles market growth. Construction activities encompass the processes needed to establish buildings or infrastructure, where asphalt shingles are often employed as roofing materials. These materials contribute new appearances, textures, and properties to the infrastructure. A report published by Atradius Collections, a renowned Netherlands-based company specializing in commercial debt collection, stated in November 2023 that global construction output is estimated to rise by 3.2% in 2023. In contrast, residential construction expansion is anticipated to be just 1.1% in 2023 and 0.6% in 2024. Hence, the escalating demand for construction undertakings is stimulating the growth of the asphalt shingles market. Key Market Driver for Asphalt Shingles: Emergence of Extreme Weather Conditions Enhances Market Growth

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What growth opportunities are expected to drive the asphalt shingles market's CAGR through 2034?
In recent times, there has been a consistent growth in the size of the asphalt shingles market. The market is expected to escalate from $7.22 billion in 2024 to about $7.51 billion in 2025, representing a compound annual growth rate (CAGR) of 4.1%. The significant growth during the past years can be associated with factors such as the massive boom in housing construction, suburbanization movements, as well as the durability and cost-effectiveness of these shingles. Additionally, renovations and replacements have also contributed to this growth.

The size of the asphalt shingles market is predicted to experience consistent expansion in the upcoming years, expected to reach an estimated value of $8.91 billion in 2029 with a compound annual growth rate (CAGR) of 4.3%. This projected growth during the forecasted period can be ascribed to factors such as sustainability and green building initiatives, extreme weather occurrences, residential and commercial construction activities, and the emergence of solar-ready shingles. The forecast period is also expected to see key market trends like technological enhancements, the popularity of cool roofing, the evolution of architectural shingle patterns, and the rise of smart roofing.

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How are the latest trends influencing the growth of the asphalt shingles market?
Leading entities in the asphalt shingles market are proactively developing new products like laminated shingles to cater to consumer requirements. Architectural shingles, also referred to as laminated or dimensional shingles, represent a category of roofing materials used in the construction industry, particularly to boost both aesthetic appeal and durability of structures in comparison with conventional three-tab asphalt shingles. For example, Atlas Roofing Corporation, a company based in the USA that manufactures building materials, introduced a range of architectural shingles named Pinnacle in March 2023. These shingles have been engineered to repel solar radiation from the roof, thereby reducing heat transfer into the residence. Consequently, this reflectivity diminishes the cooling requirements and boosts the overall energy efficiency of the home. Pinnacle Sun shingles are especially beneficial in areas that need cooling throughout the year, as it provides cool-roofing solutions that contribute towards the reduction of indoor air temperatures.

Which growth-oriented segments of the asphalt shingles market are leading the industry's development?
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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What regions are leading the charge in 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 companies are at the forefront of innovation in the asphalt shingles market?
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.

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What Is Covered In The Asphalt Shingles Global Market Report?

• Market Size Forecast: Examine the asphalt shingles market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the asphalt shingles market for a structured understanding.
• Key Players Overview: Analyze major players in the asphalt shingles market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the asphalt shingles market.
• Segment Contributions: Evaluate how different segments drive overall growth in the asphalt shingles market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the asphalt shingles market.
• Industry Challenges: Identify potential risks and obstacles affecting the asphalt shingles market.
• Competitive Landscape: Review strategic developments in the asphalt shingles market, including expansions, agreements, and new product launches.

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