Asphalt Shingles Market Research Report – Global Forecast till 2023

Asphalt Shingles Market Research Report, By Type (Heavy laminates, Laminates, Strip), Material (Fiberglass, and Organic), Application (New construction, Renovation/Remodeling) and Region — Global Forecast till 2023

ID: MRFR/CO/5706-HCR | February 2021 | Region: Global | 102 pages

Market Synopsis: Global Asphalt Shingles Market


The moderate growth in the construction sector has been witnessed with the increasing number of new residential building and remodeling/renovation projects owing to the rapid urbanization. This has driven the growth of the asphalt shingles market. Construction sector has always been an important indicator while studying the economic growth of any economy. Emerging trends including product and material innovation, investments, and others have a direct impact on the dynamics of the construction industry.


Asphalt shingles, a wall or roof shingle employs asphalt for waterproofing. These are used widely as covers for roof, are cost-effective when compared to other types, and easy to install. Such advantages fuel the overall demand of such shingles in the new construction and renovation, especially in the developed markets of North America and Europe. The extreme climate conditions in these regions have led to the adoption of asphalt shingles along with the need for aesthetics in the roofing system in the construction market.


The global asphalt shingles market is expected to witness a CAGR of around 5.8%, to reach at market size of over USD 8 billion over the forecast period.


Global Asphalt Shingles Market: Regional Analysis


The global asphalt shingles have been segmented into regions of North America, Europe, Asia-pacific, and Rest of the world (RoW). North America and Europe accounted for the larger share in the overall asphalt shingles market followed by Asia-Pacific, in 2017, which will continue with its dominance by 2023. This is attributed to the adverse climate conditions in the regions of North America and Europe, along with increasing investments in R&D for advanced materials in these countries. Asia-Pacific region holds a sizeable share in the market after North America and Europe. The region has witnessed increasing number of construction projects backed by strong investment inflows in the commercial as well as residential construction in the countries such as China and India. This is expected to fuel the demand for asphalt shingles in the Asia-Pacific region in coming time.


Global Asphalt Shingles Market: Segmentation


The global asphalt shingles market has been segmented on the basis of type, material, and Application. On the basis of type, the market has been classified into heavy laminates, laminates, and strip. Material segment is further sub-segmented into fiberglass, and organic. Application segment is classified into new construction, and renovation/remodelling.


Based on type, the market has been bifurcated into heavy laminates, laminates, and strip. Strip asphalt shingles account for the fastest growing segment. The reason is attributed to the light weight and cost-effectiveness associated with it when compared to other asphalt shingles. These are made from one layer of asphalt and have a flat appearance like a slate.


Based on material, the segment is further classified into fiberglass, and organic. The fiberglass accounted for the largest market share in 2017 and is expected to showcase similar growth pattern in the forecast period. The fiberglass material offers properties such as lighter in weight, extra fire resistance, and more durability. The fiberglass stands out to be more durable due to the core, that offer additional level of flexibility.


Based on Application, the segment is classified into new construction, and renovation/remodelling. The renovation/remodelling segment was the dominant segment in 2017. The reason is attributed to the increased spending in the residential as well commercial spaces on remodeling and repair works. This in turn has generated lot of demand for asphalt shingles in the both the residential and commercial segment.


Key players include Owens Corning (US), Certain Teed Corporation (US), IKO Industries, Ltd. (Canada), TAMKO Building Products, Inc. (US), Tarco, Inc. (US), Siplast, Inc. (US), Henry Company LLC (US), Malarkey Roofing Products (Portland), Polyglass U.S.A., Inc. (US), and Atlas Roofing Corporation (US). The global asphalt shingles market is highly competitive with many players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include new product developments in terms of advanced material, mergers, and acquisitions, along with strategic partnerships, and collaborations.


Intended Audience:



  • Raw Material Suppliers

  • End Users

  • Product Manufacturers

  • Traders & Distributors

  • Regulatory Bodies

  • Market Research and Consulting Firms



Frequently Asked Questions (FAQ) :


Hike in construction activities would primarily drive the asphalt shingles market.

The CAGR of asphalt shingles market would be 5.8% during the forecast period.

North America and Europe would tae charge of asphalt shingles market.

Growing R&D expenditure and adverse weather conditions would ensure strong growth for the asphalt shingles markets in these two regions.

Strip asphalt shingles would grow with the fastest speed.


Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Threat of substitutes

3.1.4 Segment rivalry

3.1.5 Bargaining Power of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities
5 Global Asphalt Shingles Market, By Material

5.1 Introduction

5.2 Fiberglass

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast by Region, 2018-2023

5.3 Organic

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast by Region, 2018-2023

6 Global Asphalt Shingles Market, By Type

6.1 Introduction

6.2 Heavy laminates

6.2.1 Market Estimates & Forecast, 2018-2023

6.2.2 Market Estimates & Forecast by Region, 2018-2023

6.3 Laminates

6.3.1 Market Estimates & Forecast, 2018-2023

6.3.2 Market Estimates & Forecast by Region, 2018-2023

6.4 Strip

6.4.1 Market Estimates & Forecast, 2018-2023

6.4.2 Market Estimates & Forecast by Region, 2018-2023

7 Global Asphalt Shingles Market, By Application

7.1 Introduction

7.2 New construction

7.2.1 Market Estimates & Forecast, 2018-2023

7.2.2 Market Estimates & Forecast by Region, 2018-2023

7.3 Renovation/Remodelling

7.3.1 Market Estimates & Forecast, 2018-2023

7.3.2 Market Estimates & Forecast by Region, 2018-2023

8 Global Asphalt Shingles Market, By Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2018-2023

8.2.2 Market Estimates & Forecast by Material, 2018-2023

8.2.3 Market Estimates & Forecast by Type, 2018-2023

8.2.4 Market Estimates & Forecast by Application, 2018-2023

8.2.5 US

8.2.5.1 Market Estimates & Forecast, 2018-2023

8.2.5.2 Market Estimates & Forecast by Material, 2018-2023

8.2.5.3 Market Estimates & Forecast by Type, 2018-2023

8.2.5.4 Market Estimates & Forecast by Application, 2018-2023

8.2.6 Canada

8.2.6.1 Market Estimates & Forecast, 2018-2023

8.2.6.2 Market Estimates & Forecast by Material, 2018-2023

8.2.6.3 Market Estimates & Forecast by Type, 2018-2023

8.2.6.4 Market Estimates & Forecast by Application, 2018-2023

8.3 Europe

8.3.1 Market Estimates & Forecast, 2018-2023

8.3.2 Market Estimates & Forecast by Material, 2018-2023

8.3.3 Market Estimates & Forecast by Type, 2018-2023

8.3.4 Market Estimates & Forecast by Application, 2018-2023

8.3.5 UK

8.3.5.1 Market Estimates & Forecast, 2018-2023

8.3.5.2 Market Estimates & Forecast by Material, 2018-2023

8.2.5.3 Market Estimates & Forecast by Type, 2018-2023

8.2.5.4 Market Estimates & Forecast by Application, 2018-2023

8.3.6 Germany

8.3.6.1 Market Estimates & Forecast, 2018-2023

8.3.6.2 Market Estimates & Forecast by Material, 2018-2023

8.3.6.3 Market Estimates & Forecast by Type, 2018-2023

8.3.6.4 Market Estimates & Forecast by Application, 2018-2023

8.3.7 France

8.3.7.1 Market Estimates & Forecast, 2018-2023

8.3.7.2 Market Estimates & Forecast by Material, 2018-2023

8.3.7.3 Market Estimates & Forecast by Type, 2018-2023

8.3.7.4 Market Estimates & Forecast by Application, 2018-2023

8.3.8 Italy

8.3.8.1 Market Estimates & Forecast, 2018-2023

8.3.8.2 Market Estimates & Forecast by Material, 2018-2023

8.3.8.3 Market Estimates & Forecast by Type, 2018-2023

8.3.8.4 Market Estimates & Forecast by Application, 2018-2023

8.3.9 Rest of Europe

8.3.8.1 Market Estimates & Forecast, 2018-2023

8.3.8.2 Market Estimates & Forecast by Material, 2018-2023

8.3.8.3 Market Estimates & Forecast by Type, 2018-2023

8.3.8.4 Market Estimates & Forecast by Application, 2018-2023

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2018-2023

8.4.2 Market Estimates & Forecast by Material, 2018-2023

8.4.3 Market Estimates & Forecast by Type, 2018-2023

8.4.4 Market Estimates & Forecast by Application, 2018-2023

8.4.5 China

8.4.5.1 Market Estimates & Forecast, 2018-2023

8.4.5.2 Market Estimates & Forecast by Material, 2018-2023

8.4.5.3 Market Estimates & Forecast by Type, 2018-2023

8.4.5.4 Market Estimates & Forecast by Application, 2018-2023

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2018-2023

8.4.6.2 Market Estimates & Forecast by Material, 2018-2023

8.4.6.3 Market Estimates & Forecast by Type, 2018-2023

8.4.6.4 Market Estimates & Forecast by Application, 2018-2023

8.4.7 India

8.4.7.1 Market Estimates & Forecast, 2018-2023

8.4.7.2 Market Estimates & Forecast by Material, 2018-2023

8.4.7.3 Market Estimates & Forecast by Type 2018-2023

8.4.7.4 Market Estimates & Forecast by Application, 2018-2023

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2018-2023

8.4.8.2 Market Estimates & Forecast by Material, 2018-2023

8.4.8.4 Market Estimates & Forecast by Type, 2018-2023

8.4.8.5 Market Estimates & Forecast by Application, 2018-2023

8.5 Rest of the World

8.5.1 Market Estimates & Forecast, 2018-2023

8.5.2 Market Estimates & Forecast by Material, 2018-2023

8.5.3 Market Estimates & Forecast by Type, 2018-2023

8.5.4 Market Estimates & Forecast by Application, 2018-2023

9 Competitive Landscape

10 Company Profile

10.1 Owens Corning (US)

10.1.1 Company Overview

10.1.2 Types/Services Offering

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Strategy

10.1.6 SWOT Analysis

10.2 Certain Teed Corporation (US)

10.2.1 Company Overview

10.2.2 Types/Services Offering

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Strategy

10.2.6 SWOT Analysis

10.3 Henry Company LLC (US)

10.3.1 Company Overview

10.3.2 Types/Services Offering

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Strategy

10.3.6 SWOT Analysis

10.4 Malarkey Roofing Products (Portland)

10.4.1 Company Overview

10.4.2 Types/Services Offering

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Strategy

10.4.6 SWOT Analysis

10.5 IKO Industries, Ltd. (Canada)

10.5.1 Company Overview

10.5.2 Types/Services Offering

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Strategy

10.5.6 SWOT Analysis

10.6 Siplast, Inc. (US)

10.6.1 Company Overview

10.6.2 Types/Services Offering

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Strategy

10.6.6 SWOT Analysis

10.7 TAMKO Building Products, Inc. (US)

10.7.1 Company Overview

10.7.2 Types/Services Offering

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Strategy

10.7.6 SWOT Analysis

10.8 Tarco, Inc. (US)

10.8.1 Company Overview

10.8.2 Types/Services Offering

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Strategy

10.8.6 SWOT Analysis

10.9 Polyglass U.S.A., Inc. (US)

10.9.1 Company Overview

10.9.2 Types/Services Offering

10.9.3 Financial Overview

10.9.4 Key Developments

10.9.5 Strategy

10.9.6 SWOT Analysis

10.10 Atlas Roofing Corporation (US)

10.10.1 Company Overview

10.10.2 Types/Services Offering

10.10.3 Financial Overview

10.10.4 Key Developments

10.10.5 Strategy

10.10.6 SWOT Analysis

List of Tables
Table 1 Global Asphalt Shingles Market: By Region, 2018-2023

Table 2 North America Asphalt Shingles Market: By Country, 2018-2023

Table 3 Europe Asphalt Shingles Market: By Country, 2018-2023

Table 4 Asia-Pacific Asphalt Shingles Market: By Country, 2018-2023

Table 5 RoW Asphalt Shingles Market: By Country, 2018-2023

Table 6 Global Asphalt Shingles Market, By Material, By Regions, 2018-2023

Table 7 North America Asphalt Shingles Market, By Material, By Country, 2018-2023

Table 8 Europe Asphalt Shingles Market, By Material, By Country, 2018-2023

Table 9 Asia-Pacific Asphalt Shingles Market, By Material, By Country, 2018-2023

Table 10 RoW Asphalt Shingles Market, By Material, By Country, 2018-2023

Table 11 Global Asphalt Shingles Market, By Type: By Regions, 2018-2023

Table 12 North America Asphalt Shingles Market, By Type: By Country, 2018-2023

Table 13 Europe Asphalt Shingles Market by Type: By Country, 2018-2023

Table 14 Asia-Pacific Asphalt Shingles Market by Type: By Country, 2018-2023

Table 15 RoW Asphalt Shingles Market by Type: By Country, 2018-2023

Table 16 Global Asphalt Shingles Market by Application: By Regions, 2018-2023

Table 17 North America Asphalt Shingles Market by Application: By Country, 2018-2023

Table 18 Europe Asphalt Shingles Market by Application: By Country, 2018-2023

Table 19 Asia-Pacific Asphalt Shingles Market by Application: By Country, 2018-2023

Table 20 RoW Asphalt Shingles Market by Application: By Country, 2018-2023

Table 21 Global Asphalt Shingles Market: By Region, 2018-2023

Table 22 Global Asphalt Shingles Market: By Material, 2018-2023

Table 23 Global Asphalt Shingles Market: By Type, 2018-2023

Table 24 Global Asphalt Shingles Market: By Application, 2018-2023

Table 25 North America Asphalt Shingles Market, By Country

Table 26 North America Asphalt Shingles Market, By Material

Table 27 North America Asphalt Shingles Market, By Type

Table 28 North America Asphalt Shingles Market, By Application

Table 29 Europe: Asphalt Shingles Market, By Country

Table 30 Europe: Asphalt Shingles Market, By Material

Table 31 Europe: Asphalt Shingles Market, By Type

Table 32 Europe: Asphalt Shingles Market, By Application

Table 33 Asia-Pacific: Asphalt Shingles Market, By Country

Table 34 Asia-Pacific: Asphalt Shingles Market, By Material

Table 35 Asia-Pacific: Asphalt Shingles Market, By Type

Table 36 Asia-Pacific: Asphalt Shingles Market, By Application

Table 37 RoW: Asphalt Shingles Market, By Region

Table 38 RoW Asphalt Shingles Market, By Material

Table 39 RoW Asphalt Shingles Market, By Type

Table 40 RoW Asphalt Shingles Market, By Application

List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value Chain Analysis

FIGURE 8 Global Asphalt Shingles Market Share, By Material, 2016 (%)

FIGURE 9 Global Asphalt Shingles Market, By Material, 2015-2023 (USD MILLION)

FIGURE 10 Global Asphalt Shingles Market Share, By Type, 2016 (%)

FIGURE 11 Global Asphalt Shingles Market, By Type, 2015-2023 (USD MILLION)

FIGURE 12 Global Asphalt Shingles Market Share, By Application, 2016 (%)

FIGURE 13 Global Asphalt Shingles Market, By Application, 2015-2023 (USD MILLION)

FIGURE 14 Global Asphalt Shingles Market Share (%), By Region, 2016

FIGURE 15 Global Asphalt Shingles Market, By Region, 2015-2023 (USD MILLION)

FIGURE 16 North America Asphalt Shingles Market Share (%), 2016

FIGURE 17 North America Asphalt Shingles Market, By Country, 2015-2023 (USD MILLION)

FIGURE 18 Europe Asphalt Shingles Market Share (%), 2016

FIGURE 19 Europe Asphalt Shingles Market, By Country, 2015-2023 (USD MILLION)

FIGURE 20 Asia-Pacific Asphalt Shingles Market Share (%), 2016

FIGURE 21 Asia-Pacific Asphalt Shingles Market, By Country, 2016-2023 (USD MILLION)

FIGURE 22 Rest of the World Asphalt Shingles Market Share (%), 2016

FIGURE 23 Rest of the World Asphalt Shingles Market, By Country, 2016-2023 (USD MILLION)