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Canada Asphalt Shingles Market Worldwide Industry Details by Top Manufacture, Price, Supply-Demand, Recent Trends, Share, Development Trend and End Us

Canada Asphalt Shingles Market Size By Product, By Application, Commercial By Building Type, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027


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Vikram Singh Mehta

2 months ago | 6 min read

The Canada asphalt shingles market is expected to witness robust expansion by 2027 driven by rising construction activities in the region. Moreover, improving spending capacity of consumers is likely to further fuel market growth through the forecast period.

Rising climate consciousness has increased the emphasis on identifying and deploying more sustainable materials in order to establish a circular economy in the construction sector. Asphalt shingles are typically used for roofing as they offer their superior durability as well as an extended life span and can also be recycled and reused for other purposes at the end of their service life. As a result, the effective and sustainable use of asphalt shingles has positively impacted market adoption in recent years.

For comprehensive assessment, the Canada asphalt shingles market has been segmented based on product, application, and province. With respect to product, the market has been categorized into dimensional asphalt shingles, three tab asphalt shingles, high performance laminated asphalt shingles, and others asphalt shingles.

Based on dimensional asphalt shingles, applications of the Canada asphalt shingles market have been segregated into residential (new residential and residential re-roofing), commercial (commercial re-roofing and new commercial), and commercial by building type (institutional; industrial; office, retail, & lodging; and others).

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The new residential segment is anticipated to gain traction by 2027, growing at a CAGR of over 4% through the analysis period. Shifting consumer preference for ecological construction methods and rising focus on sustainable construction is speculated to boost segmental growth through 2027.

The residential re-roofing application of dimensional asphalt shingles is projected to garner a sizable revenue of around USD 790 Million by the end of 2027. The new commercial application segment is anticipated to grow at a CAGR of about 3.5% over the estimated timeline owing to rising commercial construction activities in Canada.

The industrial application segment is set to observe substantial growth by 2027, progressing at over 3% CAGR through the assessment timeframe. Expansion of business activities and the growing tourism industry in the region have impelled the requirement for offices and lodging area, which is likely to contribute to segmental demand over the following years.

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In 2020, the institutional segment was valued at about USD 50 million and is projected to grow at a considerable pace over 2021-2027 owing to the booming manufacturing sector in the region. Other applications of dimensional asphalt shingles are calculated to exceed a valuation of USD 15 million by the end of 2027.

On the basis of high performance laminated asphalt shingles, applications of the Canada asphalt shingles market have been bifurcated into residential (new residential and residential re-roofing), commercial (commercial re-roofing and new commercial), and commercial by building type (institutional; industrial; office, retail, & lodging; and others).

The residential segment is estimated to progress at over 5% CAGR through the projected timeline driven by the high rate of employment, rising disposable income, and increasing focus on home ownership in the region. In 2020, the new residential application of high performance laminated asphalt shingles was valued at around USD 20 million and is expected to see notable growth over 2021-2027 due to the surging prevalence of house ownership.

The residential re-roofing application segment is projected to expand at a CAGR of approximately 5.5% over the study timeframe. Shifting consumer inclination towards environmentally sustainable architecture is likely to facilitate segmental demand through the following years.

The new commercial application of high performance laminated asphalt shingles is anticipated to observe profitable growth by 2027, registering a CAGR of over 4.5% through the forecast timeline. The office, retail, & lodging application segment was valued at nearly USD 5 million in 2020 and is slated to witness notable growth by 2027 mainly due to the expanding population in the region.

The industrial segment is expected to see robust growth at a CAGR of around 4% through the analysis period. Other applications of high performance laminated asphalt shingles are calculated to amass a significant revenue of more than USD 1.80 million by the end of 2027.

With respect to three tab asphalt shingles, applications of the Canada asphalt shingles market have been bifurcated into residential (new residential and residential re-roofing), commercial (commercial re-roofing and new commercial), and commercial by building type (institutional; industrial; office, retail, & lodging; and others).

Residential application of three tab asphalt shingles is estimated to grow at a CAGR of approximately 2% through the assessment timeframe owing to the rising number of nuclear families in the region. In 2020, the new residential application segment was valued at about USD 20 million and is speculated to observe substantial growth by 2027 driven by the increasing inclination of millennials towards designing and owning private property.

Residential re-roofing application of three tab asphalt shingles is calculated to be valued at over USD 100 million by the end of 2027 owing to the soaring demand for re-roofing in residential buildings. The new commercial application segment is estimated to progress at a CAGR of about 4.5% through the study timeline. Increasing grocery & retail stores, restaurants, and medical facilities has boosted the demand for new commercial buildings, which is expected to propel segmental adoption in the future.

The industrial application segment is anticipated to garner a respectable valuation by the end of 2027. The three tab asphalt shingles market from the institutional application segment is anticipated to grow at a sizable pace over the following years.

In 2020, the others asphalt shingles segment was valued at around USD 255 million and is expected to witness robust growth by 2027. Escalating prominence of recyclable or eco-friendly products across the globe is expected to bolster segmental growth in the coming years.

With respect to others asphalt shingles, applications of the Canada asphalt shingles market have been bifurcated into residential (new residential and residential re-roofing), commercial (commercial re-roofing and new commercial), and commercial by building type (institutional; industrial; office, retail, & lodging; and others).

The new residential application segment is set to observe lucrative growth by 2027, delivering a CAGR of approximately 3% through the assessment timeframe. The residential re-roofing application of other asphalt shingles is calculated to witness steady growth at over 2.5% CAGR through the analysis timeline. Prevalent renovation activities across various provinces, such as Ontario, British Colombia, and Quebec, are likely to fuel segmental demand through 2027.

The commercial application segment is estimated to exceed a valuation of USD 30 million by the end of 2027. High disposable income and globalization trends is slated to boost the demand for commercial construction activities in Canada, which is projected to support segmental growth.

The Canada asphalt shingles market from new commercial application of other asphalt shingles is anticipated to expand at a CAGR of about 2.5% through the estimated timeframe. The commercial re-roofing segment is projected to see notable growth to surpass a valuation of USD 15 million by the end of 2027.

The commercial by building type segment is expected to register significant growth at around 3% CAGR through the forecast timeline. The office, retail, & lodging application of other asphalt shingles is anticipated to be valued at over USD 50 million by 2027.

In 2020, the industrial segment was valued at nearly USD 15 million and is set to record lucrative growth by 2027 due to surging prevalence of infrastructural activities in the region. By 2027, the institutional application of other asphalt shingles is calculated to exceed a valuation of USD 45 million.

Based on region, the market spans leading geographies of Quebec, Ontario, British Colombia, Manitoba, Alberta, Nova Scotia, Saskatchewan, Newfoundland and Labrador, New Brunswick, and Prince Edward Island.

Driven by steady economic growth and increased consumer spending on residential and commercial properties, the British Colombia asphalt shingles market is estimated to expand at a CAGR of over 3.5% through the forthcoming years.

By 2027, the Saskatchewan asphalt shingles market is calculated to surpass a valuation of USD 20 Million. Rising construction activities propelled by rapid urbanization and globalization is likely to support market growth over 2021-2027.

The Canada asphalt shingles market from Nova Scotia is slated to register significant growth by 2027, progressing at a CAGR of about 3% through the assessment timeframe. The New Brunswick asphalt shingles market valuation is projected to reach over USD 30 million by the end of 2027.

Propelled by surging consumer inclination towards purchasing personal property and rising disposable income, the Prince Edward Island asphalt shingles market is anticipated to expand at over 3% CAGR through the forecast timeframe. The Canada asphalt shingles market from Newfoundland and Labrador is set to garner a valuation of more than USD 30 million by the end of 2027.

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