Southeast Asia Asphalt Shingles Market: Current Analysis and Forecast (2025-2033)

Asphalt shingles are composite roofing materials composed of asphalt, providing waterproofing, and mineral granules that offer UV protection, in addition to enhancing functional performance and decorative finishes. They can be used in residential and commercial roofing applications due to their low cost factor, lightweight properties, and resistance to various weather conditions.

The Southeast Asian Asphalt Shingles market is expected to exhibit a growth rate of 5.35% during the forecast period (2025-2033F). The demand for housing in Indonesia, Vietnam, and the Philippines is driven by rapid urbanization and rising middle-class incomes. The use of premium shingling is enhanced in commercial buildings, especially in Thailand and Malaysia, due to the tourism industry. Furthermore, the large-scale opportunities are the government housing projects and infrastructure projects. The cost and convenience of installation make asphalt shingles a long-standing roofing choice.

On February 3, 2025, the Indonesian government plans to build 3 million houses annually, which is expected to increase the demand for cement and help address the excess supply of cement in the country.

Based on product type, the market is segmented into three-tab shingles, architectural shingles, and luxury shingles. Among these, the architectural shingles market held the largest share in 2024, because architectural shingles are making people more inclined to seek the best roofing solutions that are both durable and visually attractive. Due to their longer lifespan and resistance to weather conditions, when compared to three-tab shingles, they make an excellent choice in areas characterized by high rainfall and humidity. Moreover, the increase in usage is driving manufacturers and suppliers to develop more products and invest in more sophisticated designs, thereby stimulating market growth.

Based on application, the Southeast Asian Asphalt Shingles market is segmented into residential, commercial, and industrial. Among these, the commercial segment is expected to grow with the highest CAGR during the forecast period (2025-2033F) due to companies, retail properties, and hospitality developments becoming important growth drivers because asphalt shingles are being used to provide economical and durable roofing. Also, the flexibility and reduced installation requirements of shingles have made them popular among commercial developers seeking to incorporate decorative installations within a short timeframe. Furthermore, the adoption pattern is driving increased demand in Southeast Asia, prompting companies to expand their operations to pursue larger projects and broaden their distribution channels.

For a better understanding of the market adoption of the Southeast Asian Asphalt Shingles market, it is analyzed based on its regional presence in Southeast Asia, including Indonesia, Thailand, the Philippines, Vietnam, and the Rest of Southeast Asia. Thailand is expected to grow at a significant CAGR in the market, driven by high levels of tourism-related infrastructure development, residential housing development, and real estate development. Additionally, the increasing consumer interest in architectural and luxury shingles that are both upscale and durable is creating opportunities for the adoption of premium products. Furthermore, the government's urban development projects and commercial investments by hotels, resorts, and commercial buildings are contributing to market growth. Thailand, as a regional hub, also presents a favorable location for international manufacturers of roofing materials seeking to expand their distribution channels.

Some major players running in the market include CTI Indonesia (CT Korea), Onduline Group (Bardoline), Asia Jaya Sepadu Sdn. Bhd., SEETON INDONESIA (Zhejiang Seeton Building Materials Co., Ltd.), Filipinas Multi-Line Corp., Hangzhou Buildex Building Materials Co.,ltd, Others.