Market Size and Share of Southeast Asia Asphalt Shingles Market

Asphalt shingles are one of the most popular roofing materials in Southeast Asia. They are widely used in residential and commercial buildings due to their durability, affordability, and ease of installation. The Southeast Asia asphalt shingles market is expected to grow significantly in the coming years due to the increasing demand for roofing materials in the region.

Overview

The Southeast Asia asphalt shingles market is expected to grow at a CAGR of 6.5% during the forecast period (2021-2026). The market is driven by the increasing demand for roofing materials in the region, especially in countries like Indonesia, Thailand, and Vietnam. The growth of the construction industry in these countries is also contributing to the growth of the market.

The market is segmented based on product type, application, and geography. Based on product type, the market is segmented into laminated asphalt shingles and three-tab asphalt shingles. Based on application, the market is segmented into residential and commercial.

Key Players in the Market Size and Share of Southeast Asia Asphalt Shingles Market

The key players in the Southeast Asia asphalt shingles market include:

• Owens Corning
• GAF Materials Corporation
• IKO Industries Ltd.
• TAMKO Building Products LLC
• Atlas Roofing Corporation
• Malarkey Roofing Products
• CertainTeed Corporation
• Braas Monier Building Group Services Sdn Bhd
• Roofing Industries New Zealand Limited
• BP Roofing

These companies are focusing on product innovation, expansion, and partnerships to strengthen their position in the market. For instance, in 2020, Owens Corning launched a new line of asphalt shingles called Duration Premium Cool shingles, which are designed to reflect solar energy and reduce heat buildup in the attic.

Market Challenges

One of the major challenges faced by the Southeast Asia asphalt shingles market is the availability of alternative roofing materials such as metal roofing, clay tiles, and concrete tiles. These materials are also durable and offer better insulation, which makes them a preferred choice for some customers.

Another challenge is the impact of the COVID-19 pandemic on the construction industry. The pandemic has disrupted the supply chain and caused delays in construction projects, which has affected the demand for roofing materials.

Market Opportunities

The Southeast Asia asphalt shingles market offers several opportunities for growth. The increasing demand for energy-efficient roofing materials is one of the major opportunities in the market. Asphalt shingles with reflective coatings can help reduce energy consumption by reflecting solar energy and reducing heat buildup in the attic.

The growing trend of green buildings is also creating opportunities for the market. Asphalt shingles made from recycled materials can help reduce the environmental impact of construction projects and meet the sustainability goals of customers.

Future of Southeast Asia Asphalt Shingles Market

The Southeast Asia asphalt shingles market is expected to grow significantly in the coming years due to the increasing demand for roofing materials in the region. The market is also expected to witness product innovation and partnerships among key players to strengthen their position in the market.

The market is also expected to witness the adoption of new technologies such as 3D printing and automation in the manufacturing process. These technologies can help reduce the production time and cost of asphalt shingles, which can make them more affordable for customers.

Conclusion

The Southeast Asia asphalt shingles market is expected to grow significantly in the coming years due to the increasing demand for roofing materials in the region. The market offers several opportunities for growth, including the increasing demand for energy-efficient and sustainable roofing materials. However, the market also faces challenges such as the availability of alternative roofing materials and the impact of the COVID-19 pandemic on the construction industry.