U.S.: Asphalt Shingle Market 2024

Asphalt Shingle Market Size in the U.S.

In 2021, the U.S. asphalt shingle market decreased by -3.9% to $X, falling for the third consecutive year after three years of growth. In general, consumption recorded a noticeable downturn. Asphalt shingle consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Asphalt Shingle Production in the U.S.

In value terms, asphalt shingle production dropped slightly to $X in 2021. In general, production recorded a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 11%. Asphalt shingle production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Asphalt Shingle Exports

Exports from the U.S.

In 2021, shipments abroad of asphalt shingle and coating materials was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a mild shrinkage. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, asphalt shingle exports soared to $X in 2021. Overall, exports, however, recorded a mild curtailment. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for asphalt shingle exports from the United States, accounting for a 79% share of total exports. Moreover, asphalt shingle exports to Canada exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. Mexico (X tons) ranked third in terms of total exports with a 4.5% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Canada stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+6.2% per year) and Mexico (+17.7% per year).

In value terms, Canada ($X) remains the key foreign market for asphalt shingle and coating materials exports from the United States, comprising 79% of total exports. The second position in the ranking was held by Chile ($X), with a 4.1% share of total exports. It was followed by Mexico, with a 2.9% share.

From 2013 to 2021, the average annual growth rate of value to Canada amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+6.4% per year) and Mexico (+6.1% per year).

Export Prices by Country

In 2021, the average asphalt shingle export price amounted to $X per ton, increasing by 9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.

Asphalt Shingle Imports

Imports into the U.S.

For the third consecutive year, the United States recorded growth in purchases abroad of asphalt shingle and coating materials, which increased by 16% to X tons in 2021. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, asphalt shingle imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 16%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of asphalt shingle to the United States, with a 81% share of total imports. Moreover, asphalt shingle imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), eightfold. Italy (X tons) ranked third in terms of total imports with a 2.9% share.

From 2013 to 2021, the average annual rate of growth in terms of volume from Canada totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+2.4% per year) and Italy (+13.5% per year).

In value terms, Canada ($X) constituted the largest supplier of asphalt shingle and coating materials to the United States, comprising 74% of total imports. The second position in the ranking was taken by Mexico ($X), with an 8.6% share of total imports. It was followed by the United Arab Emirates, with a 7.8% share.

From 2013 to 2021, the average annual growth rate of value from Canada totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+1.0% per year) and the United Arab Emirates (+25.3% per year).

Import Prices by Country

The average asphalt shingle import price stood at $X per ton in 2021, dropping by -1.5% against the previous year. In general, the import price continues to indicate a noticeable decline. The growth pace was the most rapid in 2018 an increase of 41% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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