by Asphalt shingles are the most commonly used roofing material for residential construction in Canada. They provide an affordable and durable roofing solution for homes. Asphalt shingles are made from fiberglass mats that are saturated and coated with asphalt. They offer weather resistance, fire protection, and ease of installation. Growing residential construction activities in Canada have been driving the demand for asphalt shingles in the country.
Canada Asphalt Shingles Market Size is estimated to be valued at US$ 1.23 Bn in 2024 and is expected to exhibit a CAGR of 2.4% over the forecast period 2024-2031.
Key Takeaways
Key players in the Canada Asphalt Shingles Market are IKO Industries, BP Canada, Husky Oil Operations Limited, Imperial Oil, Irving Oil, Suncor Energy, Shell Canada, Prairie Sky Roofing, Building Products of Canada Corp, CertainTeed, Owens Corning, GAF, Malarkey Roofing Products, Atlas Roofing Corporation, TAMKO Building Products, Henry Company, Polyglass U.S.A., Inc., Duro-Last Roofing, Inc., Excel Roofing Service Inc., Roof Mart Ontario, and others. The major players are focusing on expanding their production capacities and geographic reach to strengthen their market share.
The growing residential construction industry in Canada is opening up new opportunities for market players. Provincial governments offer various rebates and incentives for home improvements which is boosting renovations and remodeling activities. This is augmenting the demand for asphalt shingles.
With rising construction of residential buildings, the uptake of asphalt shingles is increasing across provinces in Canada. The western provinces especially Alberta and British Columbia are emerging as highly lucrative markets. Manufacturers are investing in product development and geographical expansion to cater to the growing demand.
Market Drivers
Low installation and maintenance costs of asphalt shingles make them very attractive for homeowners. This has boosted their adoption over other roofing materials. Growing residential real estate industry and rising home improvement & repair activities are also propelling the Canada asphalt shingles market.
PEST Analysis|
Political: The government policies protecting domestic asphalt shingle manufacturers will support the market growth. Subsidies for roofing projects can boost demand.
Economic: Rising disposable incomes and construction spending will drive demand for asphalt shingles used in residential roofing. Infrastructure projects also contribute to sales.
Social: Home renovation and remodeling activities remain popular. Asphalt shingles are a stylish and affordable roofing option.
Technological: Manufacturers focus on improving shingle durability through advanced polymer blending techniques. New designs offer heightened wind resistance and longer warranties.
The Western provinces account for the largest share of the Canada asphalt shingles market value due to higher construction activities. Ontario and Quebec experience significant demand as the most populous provinces. Prairie provinces also contribute considerably to sales with ongoing housing development projects.
The Atlantic region has emerged as the fastest growing market for asphalt shingles. Government initiatives are stimulating industrial expansion and infrastructure upgrading in the region. Replacement of aged roofs further augments demand along with rising homeownership in this part of Canada.
What Are The Key Data Covered In This Canada Asphalt Shingles Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Canada Asphalt Shingles Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Canada Asphalt Shingles Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Canada Asphalt Shingles Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Canada Asphalt Shingles Market vendors
FAQ’S
Q.1 What are the main factors influencing the Canada Asphalt Shingles market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Canada Asphalt Shingles Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Canada Asphalt Shingles market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
