According to the market analysis report titled ‘Canada Asphalt Shingles Market Size By Product (Dimensional Shingles, High Performance Laminated Shingles, Three-Tab Shingles), By Application (Residential {New-residential, Residential Re-roofing}, Commercial {New Commercial, Commercial Re-Roofing}), Commercial By Building Type (Office, Retail & Lodging, Industrial, Institutional), Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, Canada asphalt shingles market is slated to expand at a notable pace during 2021-2027.
 

Increase in construction activities and greater spending capacity among consumers has led to a surge in the Canada asphalt shingles market in the recent years.

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For the uninitiated, asphalt shingles are utilized in roofing as they are durable and have an extended lifespan. Moreover, they can be recycled and reused for other use-cases at the end of their lifecycle. This sustainability factor has augmented product adoption.

However, the increasing demand for plastic roofing in commercial constructions may hinder the growth trajectory of the marketplace during the assessment timeframe.

Based on product type, the market is bifurcated into dimensional asphalt shingles, high-performance laminated asphalt shingles, and three-tab asphalt shingles among others.

With respect to application spectrum of Canada asphalt shingles industry, the various product types are further split into residential (new residential, residential re-roofing), commercial (commercial re-roofing, new commercial), and commercial by building type (institutional, industrial, office, retail & lodging, and others) w

The new residential sub-segment within the division of dimensional asphalt shingles is slated to grow at a CAGR of more than 4% during the evaluation period owing to increasing customer preference towards sustainable construction methods.

Parallelly, the industrial sub-segment is slated to grow over 3% in the stipulated time period due to an increased need for offices and lodgings owing to an expansion of the tourism industry within the area.

The residential sub-segment of the high-performance laminated asphalt shingles is estimated to progress at a CAGR of more than 5% over the forecast period as a result of increase in the rate of employment, growing disposable income, and rise in home ownership across the region.

Meanwhile, the new commercial application sub-segment in the three tab asphalt shingles division is estimated to record a steady growth rate of over 4.5% during the evaluation timeline due to the increasing number of grocery and retail stores along with hospitals.

From a geographical frame of reference, the Saskatchewan province is estimated to add USD 20 Mn by 2027 to the Canada asphalt shingles market valuation by 2027 as a result of rapid urbanization around the area.

Similarly, the industry is Prince Edward Island is expected to witness a healthy growth rate of over 3% during the forecast period on account of high demand for a personal property among consumers and increasing disposable income.

Elaborating on the competitive landscape, Building Products of Canada Corp., Polyglass USA Inc., Pabco Building Products, LLC, Henry Company LLC, Siplast, Inc., Malarkey Roofing Products, GAF Materials Corporation, Atlas Roofing Corporation, CertainTeed, Iko Industries Ltd, Tamco Building Products LLC, and Owens Coming are influencing the trends in asphalt shingles market in Canada.