Asphalt shingle demand is predicted to increase 5.% each year until 2021, according to a new new Freedonia Group study. Total growth is expected to hit $8.5 billion within the next four years, as housing starts rise and homeowners undertake roof replacement projects.

Freedonia, a Cleveland-based international industrial research company, predicts a large portion of the growth will be driven by increased use of high-performance shingles in place of the traditional laminated asphalt shingles. Though standard laminated asphalt shingles will continue to account for a larger market share through 2021, high-performance shingles designed to withstand extremely high winds or that closely resemble wood or slate roofing will see more rapid growth, according to the press release.

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