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

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• homeowner interest in replacing existing worn or out-of-date asphalt shingle roofs with products that are more durable and aesthetically pleasing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

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