San Francisco, 28 March 2019: The Report Southeast Asia Asphalt Shingles Market Size, Share & Trends Analysis Report By
Application (Residential, Non-Residential), By Country (Thailand, Malaysia,
Vietnam), And Segment Forecasts, 2018 - 2025
The Southeast Asia asphalt shingle market size is anticipated to reach USD 476.7 million by 2025,
according to a new report by Grand View Research, Inc., exhibiting a CAGR of
6.2% during the forecast period. Surging demand for asphalt shingles in
Thailand and Malaysia, owing to their superior characteristics, is estimated to
drive the market.
Asphalt shingles have the ability withstand
high force winds, driving rain, winter’s deep freeze, ice-built up, and heat,
which ensure improved protection of residential and non-residential buildings
as compared to its counterparts including metal, wood, or ceramic roofing
products. As a result, the demand for the product as a roofing material is
expected to witness growth.
Asphalt roofing products are manufactured
in compliance with ASTM standards for fire resistance and wind resistance. In
addition, shingles are installed on a wide variety of roofs owing to their
flexibility and strength, which increases their adaptability and are preferred
by homeowners owing to their low maintenance property.
Recent growth in the infrastructure
development sector in Southeast Asian countries is likely to boost the use of
asphalt shingles in commercial buildings. In addition, consistent economic
growth along with low-interest rates for investments is poised to favor the
approval of building projects, thereby fueling the demand for the product in
Southeast Asia.
Access Research Report of Southeast Asia Asphalt Shingle
Market @ https://www.grandviewresearch.com/industry-analysis/southeast-asia-asphalt-shingles-market
Further key findings from the report suggest:
· The residential segment accounted for 51.1%
of the overall revenue in 2017 on account of increasing preference for the
product by homeowners, owing to long shelf life and low maintenance cost
associated with the product
· The non-residential segment is projected to
register a CAGR of 5.9% in terms of revenue during the forecast period owing to
growing demand for the product in the infrastructure development sector in
Southeast Asian countries, including Thailand and Malaysia
· Thailand accounted for 43.9% of the overall
revenue in 2017 as the demand for the product in the country is growing on
account of availability of shingles at low cost and in a wide variety of colors
and textures catering to specific requirements of customers
· Malaysia asphalt shingles market is
anticipated to witness a CAGR of 7.2% during the same period owing to
government initiatives to address housing shortage for low and middle-income
population, which is fueling the demand for low-cost roofing materials such as
asphalt shingles
· The major players involved in the
manufacturing of the product compete on the basis of product quality,
durability, variety of colors, and textures offered along with customized
properties such as wind resistance, weight, waterproofing, and UV resistance.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/green-building-materials
Grand View Research has
segmented the Southeast Asia asphalt shingle market report on the basis of
application and country:
Southeast Asia Asphalt Shingle Application
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Residential
·
Non-residential
Southeast Asia Asphalt Shingle Country
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
·
Southeast Asia
o
Thailand
o
Laos
o
Vietnam
o
Myanmar
o
Cambodia
o
Malaysia
Access Press Release of
Southeast Asia Asphalt Shingle Market@ https://www.grandviewresearch.com/press-release/southeast-asia-asphalt-shingles-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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