Roofing Materials Market Prospects Soaring to Reach USD 11.2 Billion by 2034

Roofing Materials Market Prospects Soaring to Reach USD 11.2 Billion by 2034

The global market for asphalt shingles is poised for growth, driven by various factors including energy efficiency, sustainability, and technological advancements.

In 2024, the residential sector held a commanding 78.1% market share, underscoring the strong demand in the housing industry. Notably, North America's asphalt shingles market, valued at USD 3.9 billion, captured a 49.8% share, fuelled by robust home renovation and re-roofing activities.

Asia-Pacific led the global asphalt shingles market with a commanding 53.8% share, driven by rapid urbanization, extensive construction, and infrastructure development.

Henry Company LLC expanded its Blueskin roofing underlayment for better moisture protection under asphalt shingles, while Duro-Last Roofing developed Cool Zone asphalt shingles for improved thermal performance. These innovations underscore the industry's focus on sustainability and energy efficiency.

Advanced asphalt shingles designed for quick installation and minimal disruption enhance the appeal of the retrofit segment, which led the market in 2024 with a 67.4% share. Retrofit installations are driven by the global surge in home renovation projects and offer a cost-effective and efficient alternative to full roof replacements.

GAF Materials Corporation launched Timberline HDZ shingles featuring LayerLock technology for better wind resistance, and Building Products of Canada Corp (BP Canada) introduced BP Mystique 42 AR shingles with advanced algae resistance, further demonstrating the industry's commitment to innovation.

While precise growth rates for the asphalt shingles market from 2025 to 2034 are not available, the market is expected to grow positively. The exterior materials segment's projected CAGR of about 9.5% can be viewed as a proxy indicating robust growth potential for asphalt shingles during this period.

The Asia Pacific green building materials market is expected to register the fastest growth due to increased construction activities, which may extend to roofing products such as asphalt shingles. Europe shows steady growth, driven by residential expansion and renovations.

The global asphalt shingles market is projected to reach USD 11.2 billion by 2034, with a CAGR of 3.7% from 2025 to 2034. Atlas Roofing Corporation joined the innovation race with the launch of Pinnacle Pristine solar-reflective shingles.

In conclusion, the asphalt shingles market is expected to grow positively, influenced by increasing green building initiatives, stricter energy codes, rising residential and infrastructure construction, and regional market expansion, especially in Asia Pacific. For exact figures and comprehensive factor analysis, purchasing detailed market reports would be necessary.

1. manufacturing companies are constantly innovating to improve the efficiency and sustainability of asphalt shingles.
2. The finance sector plays a crucial role in funding projects in the asphalt shingles industry.
3. Energy-efficient practices are becoming increasingly important in the manufacture of asphalt shingles.
4. Aerospace entrepreneurs could explore opportunities in developing lightweight, durable asphalt shingles.
5. The retail sector can benefit from the growth of the asphalt shingles market, with more demand leading to increased sales.
6. Public-transit projects often require robust roofing solutions, making the asphalt shingles industry relevant to this sector.
7. Interior designers might consider the aesthetic appeal of various asphalt shingles in their designs.
8. Cooking up new recipes for healthy meals can save money on food and drink, freeing up funds for home improvements, including roofing projects.
9. Transportation infrastructure, including highways and buildings, often requires robust roofing solutions, contributing to the demand for asphalt shingles.
10. In the realm of leadership, fostering diversity and inclusion can lead to innovative ideas in the asphalt shingles industry.
11. Wearables and smart home devices, which are becoming increasingly popular, may require specific roofing materials that do not interfere with their functioning.
12. Cybersecurity measures are important for businesses dealing with sensitive finance and personal data, including those in the asphalt shingles industry.
13. Lifestyle choices influencing home preferences can shape the demand for different asphalt shingles designs and colors.
14. Outdoor living spaces are becoming more popular, increasing the demand for durable, weather-resistant asphalt shingles.
15. Fashion and beauty trends can influence color choices for asphalt shingles, especially for outdoor living spaces.
16. The food and drink industry can benefit from a strong housing market, as increased construction and renovation activities lead to increased demand.
17. Dining establishments are often located in commercial buildings, making the robust roofing solutions provided by asphalt shingles essential.
18. Understanding family dynamics can help manufacturers of asphalt shingles tailor their products to meet the needs of different household sizes.
19. Automotive manufacturers may utilize asphalt shingles in the construction of dealerships and service centers.
20. Small businesses can benefit from the growth of the asphalt shingles market, as they may be involved in the supply chain or servicing of roofing systems.
21. Investors may find opportunities in the asphalt shingles industry, particularly in ventures focused on sustainable living.
22. Wealth management strategies can include setting aside funds for home improvements, such as roof repairs or replacements, using asphalt shingles.
23. Home and garden enthusiasts can find innovative solutions in the asphalt shingles market, such as solar-reflective shingles for energy savings.
24. Home improvement projects, including roofing, can add value to a property, influencing the housing market.
25. Baking recipes can be a fun way to learn about the science of melting asphalt shingles and their chemical components.
26. Beverage companies can work with asphalt shingle manufacturers to develop environmentally friendly packaging solutions.
27. Love and dating might bring couples together for home improvement projects, such as roof repairs using asphalt shingles.
28. Careers in the asphalt shingles industry can offer opportunities in various sectors, including manufacturing, finance, marketing, and information technology.

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