Freedonia Group: High-Performance Types Will Support Rising Demand for Asphalt Shingles Through 2023

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Jan 29, 2020, 09:37 ET

CLEVELAND, Jan. 29, 2020 /PRNewswire/ -- Asphalt shingle roofing demand is forecast to grow 1.5% per year to 153.31 million squares in 2023. Demand gains will be supported by such factors as:

homeowner interest in replacing existing worn or out-of-date asphalt shingle roofs with products that are more durable and aesthetically pleasing
continuing increases in single-family housing starts – asphalt shingles are the most commonly specified roofing material on new homes
efforts by insurance companies, building code professionals, and roofing contractors to require homeowners to replace older roofing materials (such as three-tab shingles) with more durable laminated asphalt shingles that can better withstand severe weather events

For more information regarding the Roofing study visit: https://www.freedoniagroup.com/industry-study/roofing-3743.htm

Standard laminated asphalt shingles will continue to account for almost 75% of asphalt shingle demand through 2023. Demand for standard laminated shingles will be stimulated by consumer interest in replacing three-tab shingle roofs with laminated varieties that have longer lifespans.

High-performance laminated asphalt shingles are expected to see the fastest growth of all asphalt shingle types through 2023, driven by a high level of consumer interest (especially among homeowners and roofing contractors) in these products' superior resistance to winds and their textured surfaces that create a more attractive home exterior.

Contact Corinne Gangloff for an interview with the analyst Matt Zielenski.

Additional Construction & Building Products studies can be viewed here: https://www.freedoniagroup.com/industry-category/build/construction-building-products.htm

About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group