An Incisive, In-depth Analysis on the Asphalt Shingles Market
This study offers a comprehensive, 360 degree analysis on the Asphalt Shingles market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Asphalt Shingles market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
An asphalt shingle is a wall/roof shingle, which utilises asphalt for waterproofing. Asphalt shingles are widely used as roofing covers, particularly in North America, as they are attributed with a relatively affordable up-front cost. They are very simple to install as well. Asphalt shingles basically come in two types viz. fiberglass and organic.
Cost-effectiveness & Easy Replacement Characteristics Sustaining Adoption of Asphalt Shingles
A broad range of roofing materials are available in the market on the basis of economic, aesthetic, performance, and structural needs. Over the past few years, roof designs have been transforming into an architectural trademark. These transformations offered reasonably priced, structurally sound, and aesthetically attractive designs, along with being environment friendly. In this highly competitive roofing market, asphalt shingles have been of the most favourite choices of consumers. Although asphalt shingles are not as long lasting and durable as the more premium roofing materials including clay tiles, slate, metal and cedar shake, asphalt shingles enable sufficient aesthetic appeal and adequate protection at mere fraction of price of other roofing systems. This has led several house owners to adopt asphalt shingles for roofing. With expected rise in the residential building construction spending, demand for asphalt shingles is likely to gain an uptick in the near future.
Global warming has now rechristened climate change, allowing snow and extremely cold weather to be experienced in countries, wherein winters are subtropical. This extreme weather, encompassing various regions, is one of the major reasons fuelling adoption of asphalt shingles among roofing systems, as they are cost-effective and can be easily replaced when damaged. However various factors are likely to affect the cost of asphalt shingles’ supply and demand. For example – cost of petroleum-based products, which are used for manufacturing asphalt shingles, based on foreign or domestic provenance.
Market for Asphalt Shingles categorised by Long-Term Relationships between Manufacturers & Customers
The asphalt shingles market is categorised on the basis of high brand loyalty, along with long-term and established relationships between manufacturers and house owners. Global leaders in asphalt shingles manufacturing are therefore concentrating on reinforcing their brand reputation through product differentiation, and offering better quality standards than their competitors. Key players in the market are now concentrating on implementation of business strategies for coming up with sophisticated & advanced techniques for product development, in-depth understanding of customers as well as the market, and adoption of an established production process for gaining a competitive benefit. Other key strategies such as a comprehensive product portfolio, and provision of quality service are anticipated to play an indispensable role for players to increase their presence in the market. A latest study by Future Market Insights (FMI) has estimated the global market for asphalt shingles to account for nearly US$ 10,000 Mn revenues by 2022-end.
Key Research Findings from FMI’s Report
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North America is anticipated to remain dominant in the global asphalt shingles market, with sales estimated to reach roughly US$ 6,000 Mn by 2022-end. Europe will continue to be the second largest market for asphalt shingles.
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On the basis of product, strip asphalt shingles are expected to register the fastest growth in sales through 2022.
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Based on composition, although fiberglass asphalt shingles are expected to account for a comparatively higher revenue share of the market than organic asphalt shingles during 2017 to 2022.
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By end market, although re-roofing will continue to account for larger market revenue share, demand for asphalt shingles in new construction is expected to increase at a higher CAGR through 2022.
Company Profiles
Key participants actively contributing to growth of the global asphalt shingles market include Owens Corning, Certain Teed Corporation, Henry Company LLC, Malarkey Roofing Products, IKO Industries, Ltd., Siplast, Inc., TAMKO Building Products, Inc., Tarco, Inc., Polyglass U.S.A., Inc., and Atlas Roofing Corporation.
A latest research by Future Market Insights offers an in-depth analysis and forecast on future prospects of the global asphalt shingles market. FMI’s report titled “Asphalt Shingles Market: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2022)” offers detailed insights about the market for the five year forecast period 2017 to 2022. Historical data comprising revenues gained by global market leaders of asphalt shingles during 2017 to 2022 has been collected and referred to as the base line to assess forecast on size and revenue shares of the market.
A broad range of macroeconomic factors that are expected to impact expansion of the global asphalt shingles market have been covered in the report. Key developments made by predominant market players have been assessed for understanding current dynamic expansion of the global asphalt shingles market, and also to provide analysis on future market scenario. The report also offers analysis on changing demands from consumers, and advancements in technologies, which hold potential of transforming operation and production activities of asphalt shingles.
Report Structure
The report begins with an executive summary of the global asphalt shingles market. The executive summary provides an abstract of research findings that are compiled in the subsequent chapter of the report, particularly focusing on regional insights. This chapter renders a 360-degree view of the asphalt shingles market, followed by a formal market introduction, and standard definition of the product – asphalt shingles, along with an all-inclusive analysis on annual growth rates, and size evaluations of the market.
In succeeding chapters of the report, an analysis on pricing and cost structure, financial analysis, supply chain management, and raw material sourcing strategies has been delivered in detail. The report also provides an intensity map depicting presence of market players across all regional segments. Key participants in the global market for asphalt shingles have been profiled in concluding chapters of the report. These chapters help in keeping a track of latest developments done by the market players, showcasing their current status in the market.
Market Taxonomy
The report also includes chapters comprising a segmentation-wise forecast and analysis on the global asphalt shingles market. The global market for asphalt shingles is segmented based on product, end market, composition, and region. Along with the segmentation analysis offered, the report also renders country-specific analysis & forecast, and the cross-sectional data concerning the market. The details regarding taxonomy of the global asphalt shingles market have been portrayed in the table below.
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Research Methodology
Considering undulating countries of multiple regions across the globe, and provided with the characteristics of the global asphalt shingles market, analysts from Future Market Insights (FMI) have employed proven & tested research methodologies, underpinned with an extensive secondary research and thorough primary interviews conducted with industrial intellects. Quantitative data gathered from designated authoritative databases, and company contacts is analysed through custom-made calculations and formulas. Infusing qualitative insights with this data further, the report provides a conclusive forecast & analysis on expansion of the global market for asphalt shingles for the foreseeable future. Imperative metrics including year-on-year (Y-o-Y) growth rates, absolute $ opportunities, revenue share percentages, and compound annual growth rates (CAGRs) have been used in the report for interpreting market size forecast and research findings.
With an aim of providing a wider understanding of the global asphalt shingles market, the report is universalised into US currency standards, with conversion based on current currency exchange rates. Industrial leaders as well as new market entrants can benefit by inferring to market analysis & forecast provided in this report.
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