Consumer & Retail

According to a market report by Lucintel, the future of the asphalt shingle market looks promising with opportunities in the residential and commercial sectors. The global asphalt shingle market is expected to reach an estimated $7.7 billion by 2028 with a CAGR of 3% from 2023 to 2028. The major drivers for this market are increasing demand of roofing materials along with affordable price and environment friendly properties and supportive government initiative towards building of smart cities.



In this market, high-performance laminated, laminated, and three-tab are the major segments of asphalt shingle market by product. Lucintel forecasts that laminated will remain the largest segment over the forecast period because it is an improved version of the standard 3-tab shingle that has an additional layer under its lower half, which makes it stronger and more advanced.



Within this market, residential is expected to remain the largest segment due to rapid urbanization, growing disposable income of consumer and increasing construction of residential apartments, complexes, and small houses.



North America will remain the largest region due to the continuous growth n residential sector and supportive government funding for development of social infrastructure in the region.

GAF Materials, Owens Corning, CertainTeed, Atlas Roofing, and IKO Group are the major suppliers in the global asphalt shingle market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global asphalt shingle market by product, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Asphalt Shingle Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global asphalt shingle market by product, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.



This report answers the following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the asphalt shingle market by product (high-performance laminated, laminated, and three-tab), application (residential and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?