Asphalt Shingles Market Value to Reach US$ 11 bn by 2026

Acumen Research and Consulting, recently published report On “Asphalt Shingles Market Size, Share, Trends, Growth Opportunities and Forecast, 2019 - 2026”.

LOS ANGELES, June 18, 2019 (GLOBE NEWSWIRE) -- The global asphalt shingles market value is projected to reach around USD 11 billion by 2026 and will grow at CAGR above 7.5 % over the forecast time frame 2019 to 2026.

More sustainable projects are anticipated to push the market over the period of projection with emphasis on the use of environmentally sound and energy-efficient products.

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The provision is expected to increase product demand over the forecast period, including fast urbanisation, infrastructure growth, continuing efforts in building megacities, increased government initiatives for accessible housing, and growth of economic areas in developing markets such as India, China, and Saudi Arabia.

The sector is experiencing increased strategic partnerships with material providers between contractors and installers to help serve a broader range of clients. In general, product manufacturers are engaged in contracting employment and sales activities in close contact with contractors. Contractors are certified to install their products or systems in many cases by suppliers.

Compulsory restrictions enforced on sustainable construction products by multiple regulatory authorities in the USA are anticipated to propel demand for product over the forecast period. Furthermore it will help to promote development in the sector to increase awareness of the use of roofing technologies in order to decrease carbon footprint by lowering the energy consumption.

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An rise in the industry's digitalization has resulted to the rise and the industry is expected to benefit from the use of cutting-edge technologies like drones, robots and 3D printers. Increased user experience with laser printing is expected to increase the demand for the roofing products during the prediction era.

Asphalt shingles are the most frequently used roofing materials for various constructions worldwide. The roof coverings are generally used on single homes, tiny residential buildings and ranch houses. The most common uses of asphalt shingles are for the protection of households against thunderstanding, fire, algae, moose, and grass. Asphalt barking reflects thermal waves efficiently in summer and reduces the need to maintain cool homes for air conditioning The colors and textures are accessible in a broad range of colours. The esthetic attraction of housing is being increasingly refined.

Regional Stance

Asia Pacific is projected to be the fastest growing country over the forecast period and, thanks to a huge potential of the building industry in the region, is anticipated to achieve USD more than five billion by 2026. Different governments in the area are expected to apply green construction code throughout the projected era to support sector development.

Increased demand from the housing, widely advanced production and government-wide social infrastructure sector dominates the North American market. Moreover, increased awareness of the advantages of construction structure weather protection is anticipated to advantage the development of the sector.

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Key Players & Strategies

Major players operating in the global asphalt shingles market are Industries, Ltd., Siplast, Inc., CertainTeed, TAMKO Building Products, Inc., coPal ApS, Building Products of Canada, Atlas Roofing Corporation, Polyglass S.p.A, Malarkey Roofing, IKO Henry Company, Owens Corning, Tarco, Inc., PABCO, Braas Monier Building Group, LLC, GAF U.S., and GCP Applied Technologies Inc.

Branding, advertising and consumer consciousness are the main focus of industry respondents. Significant players adopt different approaches, such as fusions and acquisitions and geographical and product development. In 2016, IcoPal has been procured as one of the biggest roofing companies in the globe by GAF Materials Corporation.

In order to maintain product quality under control, many roofing product producers focus on backwards integration. In order to meet the growing demand, the industry members emphasize the expansion of their product portfolios by creating innovative alternatives and cheaper products with superior characteristics.

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