Canada Asphalt Shingles Market Driven by Rising Residential Construction Activities and Renovation Projects
Asphalt shingles are popular roofing materials composed of a fiberglass or organic mat base, coated with asphalt and mineral granules. These shingles offer excellent weather resistance, durability, and aesthetic appeal while being cost-effective compared to other roofing alternatives. They provide superior protection against harsh weather conditions, UV rays, and moisture, making them ideal for Canadian climate conditions. The product's ease of installation, low maintenance requirements, and wide variety of colors and styles have made them a preferred choice in residential and commercial construction. Asphalt shingles also contribute to energy efficiency by providing proper insulation and reducing heating and cooling costs. Their recyclability and environmental sustainability features align with growing eco-conscious construction practices.
The Canada asphalt shingles market size is expected to reach US$ 1.45 Bn by 2030, from US$ 1.23 Bn in 2023, at a CAGR of 2.4% during the forecast period.
The growing demand for asphalt shingles in Canada is primarily driven by increasing residential construction activities and renovation projects. The rising population, urbanization, and government initiatives supporting housing development have contributed to market growth. Additionally, the Canada Asphalt Shingles Market Trend toward home improvement and renovation projects, particularly in established residential areas, has boosted the demand for replacement roofing materials.
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