Demand for Laminated Asphalt Shingles to Reach 128.51 Million Squares in 2022

Demand for laminated asphalt shingles is projected to rise 2.1% per year to 128.51 million squares in 2022. This increase in demand will be boosted by a high level of interest among roofing contractors, homeowners, and homebuilders in installing laminated asphalt shingles because of their aesthetic and performance properties. These and other trends are presented in Residential Roofing, a new study from The Freedonia Group, a Cleveland-based industry research firm.

In value terms, residential laminated asphalt shingle demand is expected to advance 6.8% annually to $8.7 billion in 2022. Value demand for laminated asphalt shingles will be driven by:

  • increasing demand (in area terms) for high-performance laminated shingles that have higher per-square costs than standard laminated shingles
  • rising crude oil prices – laminated asphalt shingles (especially high-performance varieties) have higher asphalt content than three-tab shingles

US demand for all types of residential roofing products is forecast to grow 1.4% per year to 174 million squares in 2022. In value terms, demand is projected to advance 7.5% per year to $14.1 billion as consumers increasingly opt for high-value roofing that offers superior performance properties.

Residential Roofing (published 01/2019, 228 pages) is available for $5000 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/Roofing.html.