Canada Asphalt Shingles Market to Reach US$ 1.55 Bn by 2032

Canada asphalt shingles market, projected to reach a valuation of US$ 1.29 billion in 2025, is poised for steady expansion. It is expected to reach US$ 1.55 billion by 2032, registering a moderate CAGR of 2.6% over the forecast period. This growth is driven by rising residential construction activities, increasing demand for cost-effective and durable roofing materials, and growing trend toward home renovation and remodeling. Additionally, advancements in shingle technology, including enhanced weather resistance and energy efficiency, are contributing to wider adoption across the country.

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Canada asphalt shingles market is witnessing steady growth, driven by increasing residential construction, rising renovation activities, and growing consumer preference for cost-effective and durable roofing solutions. Asphalt shingles remain a popular choice among Canadian homeowners due to their ease of installation, availability in diverse styles and colors, and proven performance in various weather conditions, including harsh winters.

A key driver of market expansion is the rising demand for energy-efficient and environmentally sustainable roofing materials. Manufacturers are responding with innovations in asphalt shingle design, including reflective coatings, improved insulation properties, and recyclable materials that align with Canada’s green building initiatives and evolving construction standards.

In June 2024, IKO Industries Ltd., a leading Canada-based roofing manufacturer, announced the launch of its Nordic Performance Series featuring ArmourZone technology, designed to offer enhanced wind resistance and longevity. This product line caters specifically to the Canadian climate, addressing growing consumer concerns over extreme weather resilience. The introduction underscores a broader trend toward product innovation aimed at extending roof life and improving environmental performance.

Government programs supporting housing development, infrastructure improvement, and climate-resilient building practices are further bolstering demand. Additionally, the insurance industry’s emphasis on resilient roofing materials to mitigate storm damage risks is influencing homeowner preferences and driving market penetration of high-performance asphalt shingles.

As the construction and renovation sectors continue to expand, and homeowners increasingly seek aesthetic, durable, and low-maintenance roofing options, Canada asphalt shingles market is positioned for consistent long-term growth, supported by technological advancements, regulatory incentives, and evolving consumer expectations.

Government programs supporting housing development, infrastructure improvement, and climate-resilient building practices are further bolstering demand. Additionally, the insurance industry’s emphasis on resilient roofing materials to mitigate storm damage risks is influencing homeowner preferences and driving the market penetration of high-performance asphalt shingles.

In July 2024, The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, released Canada’s first Green Buildings Strategy — a strategy focused on saving Canadians money on their energy bills, creating good jobs, seizing the economic opportunities enabled by the low-carbon economy, all while reducing harmful greenhouse gas (GHG) emissions.

The Canada Green Buildings Strategy (CGBS) will drive energy efficiency improvements in Canadians’ homes and buildings, with a key focus on addressing affordability and reducing greenhouse gas emissions.

The growing trend of aesthetic customization in residential and commercial buildings offers opportunities for manufacturers to introduce shingles in various colors, textures, and styles to meet diverse consumer preferences.

In 2023, BP Canada introduced "Morning Mist," a multi-toned gray shingle infused with nature-inspired hues, marking a departure from traditional solid colors. This innovation caters to consumers desiring a balance of traditional and contemporary aesthetics.

Canada is experiencing a steady rise in residential construction and home renovation activities, especially in suburban and semi-urban areas. With continued population growth and urban migration, the demand for affordable and durable roofing solutions like asphalt shingles presents a significant opportunity for manufacturers and contractors to expand market reach.

In April 2024, the Canadian government introduced several initiatives to promote housing construction, including the introduction of a US$ 6 billion fund to accelerate housing construction and renovation. These programs aim to reduce energy consumption, lower greenhouse gas emissions, and support homeowners in making energy-efficient upgrades, thereby increasing the demand for roofing materials like asphalt shingles.

There is a growing opportunity in integrating roofing systems with smart technologies—such as solar-ready shingles or underlayments compatible with energy systems. Asphalt shingle producers who partner with tech firms or invest in solar-integrated designs can differentiate themselves in a competitive market.

In January 2022, GAF Energy launched Timberline Solar, featuring the world's first nailable solar shingle. This innovation allows for seamless integration of solar technology into traditional roofing processes, offering a sleek and durable solution for homeowners seeking to reduce energy costs and carbon footprints.

“Canada asphalt shingles market is steadily evolving, underpinned by consistent demand in residential construction and the increasing appeal of cost-effective yet durable roofing solutions,” observes Mr. Yash Doshi, a Management Consultant. “As urbanization intensifies and housing affordability remains a national priority, asphalt shingles—thanks to their ease of installation and weather resilience—continue to dominate roofing choices across Canadian households.”

“Product innovation is becoming central to this market’s growth trajectory. Manufacturers are introducing shingles with enhanced thermal performance, wind resistance, and aesthetic variety to meet the dual demand for energy efficiency and personalized home design. Recent product launches like IKO’s Nordic Performance Series and BP Canada's ‘Morning Mist’ reflect this trend of combining functionality with visual appeal.”

“Government-led green building strategies and financial incentives—such as the $6 billion housing acceleration fund and Canada’s Green Buildings Strategy—are reinforcing momentum toward sustainable construction. These policies are not only encouraging the uptake of eco-friendly materials but also accelerating renovation cycles, particularly in older housing stock.”

“Meanwhile, the integration of smart roofing technologies, like solar-ready shingles, is presenting new growth avenues. Innovations like GAF Energy’s Timberline Solar system signal a shift toward energy-generating roofs, aligning with Canada’s decarbonization goals and consumer interest in energy independence.”

“While challenges such as raw material price volatility and regulatory compliance persist, the long-term outlook remains favorable. The market is expected to benefit from a convergence of factors—supportive policy frameworks, shifting consumer preferences, and advances in roofing technologies—positioning it for stable and sustainable expansion through 2032.”