Asphalt Shingles in the US by Product, Market and Subregion
LONDON, Oct. 30, 2017 /PRNewswire/ -- US demand for asphalt shingles is forecast to advance 1.0% annually to 136.9 million squares in 2021.
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Gains will be spurred by the expected increase in residential building construction spending.
New housing starts -- particularly of single-family residences -- will continue to post solid gains, boosting demand for asphalt shingles as builders opt for these products due to their modest cost and ease of installation.
The much larger residential reroofing segment will also post advances as homeowners replace older roofs that are worn or past its expected lifespan.
Key Findings in the Asphalt Shingles Study:
High-Performance Laminated Asphalt Shingles to See Fastest Growth
Demand for high-performance laminated asphalt shingles has risen sharply over the past decade, fueled by increasing interest in roofing materials engineered to resist high winds, impacts, and degradation caused by exposure to the elements.
High-performance laminated asphalt shingles will continue to see strong demand gains through 2021.
Wind-resistant products will increasingly be specified in coastal areas and in those parts of the US where severe thunderstorms are frequent occurrences.
In the large California market, state building codes that mandate the use of cool roofing will promote the installation of high-reflectivity shingles.
Reroofing Activity to Account for the Large Majority of Demand
Residential reroofing activity generated significant demand for asphalt shingles in 2016 as several areas of the US saw multiple outbreaks of severe weather events.
Going forward, the residential reroofing segment will continue to be the leading market for asphalt shingles.
The US features a large stock of older homes, many of which have older three-tab shingles that do not meet modern building codes.
In some cases, insurers -- as a condition of maintaining coverage -- will require homeowners to replace older shingles with newer, more durable laminated asphalt shingle before renewing a policy.
Leading Manufacturers Will Continue to Dominate Market
In 2016, three manufacturers -- GAF Materials, Owens Corning, and CertainTeed -- together accounted for nearly 80 percent of US asphalt shingles sales.
These companies will continue to dominate the US asphalt shingles market going forward, using their broad range of product offerings to attract customers at multiple price points.
Furthermore, these companies' nationwide network of manufacturing facilities and integrated raw material supply chains enable to keep production costs low, ensuring that their asphalt shingles remain price-competitive with other roofing products.
Study Coverage
This industry study presents historical sales and demand data (2006, 2011, and 2016) and forecasts (2021) by product (high-performance laminated, laminated, three-tab), market (residential, commercial), and US subregion.
The study also evaluates company market share and provides competitive analysis on industry participants, including Atlas Roofing, CertainTeed, GAF Materials, IKO Group, Malarkey Roofing, PABCO, Owens Corning, and TAMKO Building Products.
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