The roof insulation market was valued at the USD 9.11 billion in 2020. In fact, due to rising consumer awareness about insulation material, the global roof insulation market is expected to reach much higher values. It has been predicted to be worth USD 15.86 billion by the end of the current forecast period of 2021 - 2030. The market is also expected to achieve its significant value during 2030. The compound annual growth rate (CAGR) of the roof insulation market for the forecast period ending in 2030 stands at 6.27%.
There has been a sharp rise in demand for energy-conserving, smart materials in construction such as Roof Insulation. Insulation materials are those which can prevent the transfer of heat, sound, and electricity from one side to another. Similarly, roof insulation prevents the heating of the house from solar radiation during hot days and from overcooling during colds. Moreover, it has the additional advantage of preventing noise transfer. Therefore, it helps in creating a peaceful and comfortable environment inside the house.
The popularity of roof insulation is influenced by factors such as energy conservation, sustainable construction, and pollution control ability. Rising awareness about eco-friendly living and stricter environmental laws are also pushing its demand.
Covid 19 Analysis
Due to the halt in construction activities during this pandemic, its impact has also been felt on the roof insulation market. Thus the revised growth rate (CAGR) was kept at 2.9% showing moderate growth.
However, flat-type insulators continued to be in demand in Europe. Additionally, In countries such as Japan and Germany, the impact was much less. After getting positive signs of market recovery the sales have shot up. The industry has to modify and adapt itself to new rules and regulations for better growth post covid crisis.
Rising consumer awareness about eco-friendly and sustainable construction materials is one of the major drivers influencing the roof insulation market. Due to the increase in human activities, our planet is facing some unprecedented situations. People now want their buildings to be free of electrical, thermal, acoustic, and other such disturbances. Hence, roof insulation has a big role to play in this rising demand.
The looming energy crisis and a need to conserve energy have made the insulation market more secure. Moreover, Governments around the world are pushing for stricter environmental laws and are curbing resource wastage. Furthermore, incentives by governments on the adoption of eco-friendly materials are also benefiting the roof insulation market. Therefore, roof insulation having household, commercial and industrial uses is the ultimate gainer.
Lack of knowledge about the use of insulations in construction is one of the major restraints towards market growth. However, this restraint is declining with the spread of knowledge among the masses.
Halt in construction activities during the covid pandemic is also one of the major factors for slow growth. Moreover, the low expansion of the construction industry in Europe is also diminishing the demand.
Cheap roofing substitutes such as asphalt singles, green roofing, metal roofing still occupy a major market share. Furthermore, the industry is also suffering from the lack of a skilled labor force.
The roof insulation technology is itself a novel and innovative technology. This technology aims to conserve vital resources when the world is heading towards an energy crisis. Insulation is a blend of two or more materials that primarily prevents unwanted heat loss or heat gain. Moreover, insulations are available in different sizes and shapes to suit the need for different purposes.
Hence by analysing all these factors we can confirm that, there is no dark side for growth of the roof insulation market. In fact, the rising literacy rate among different markets in the world will create more demand.
On the basis of materials used for insulation, we can divide the global market for Roof Insulation under :
Among these materials, Glass wool is the most preferred material for roof insulation. In fact, it has been holding the largest market share, about one-third of the total global market. It has excellent mechanical and thermal properties. Glass Wool is non-combustible, less toxic, and non-degradable.
Now, on the basis of design the different types of Roof insulation designs are :
Here batts and rolls type of design top the global market list among other types. In fact, Batts and roll type of Roof insulation also held the major market share during previous years. This growth is driven by its cost-effective and easy-to-use design. Batts are available as pre-cut panels and rolls are available as versatile joining materials.
Further, on the basis of application we have two types of roof insulations:-
However, a Flat roof has cost-effective roof shapes and also absorbs a high amount of solar radiation. Therefore, it is expected to dominate the market rather than other types. The flat roof segment is expected to grow at 3.2 % and reach a market value of 8.2 billion US$ by the end of 2027.
On the basis of Region, the global insulation market is segmented as:-
Asia - Pacific dominates the global roof insulation market. This is primarily due to cheap labor costs and low costs for the establishment of manufacturing units. Further, favorable Government policies for the trade and manufacturing sector are also driving the growth in this region.
There has been remarkable growth in the insulation market globally. The markets are expected to rise continuously as it has been performing for the past few years. Among the different regions, Asia-pacific is showing incredible growth. This has been attributed to various factors such as cheap skilled labor, low establishment cost of manufacturing units, and low operating costs. Moreover, favorable government policies have greatly benefited the market in the region.
The ever-increasing demand has also increased the competition by drawing a number of manufacturers. However, a large number of manufacturers are from either Europe or North America. Asia - Pacific being the largest market for roof insulation still has less no. of manufacturers. The important manufacturers around the globe are listed below:-
The intended audience of this report are as follows:-
This report on the roof insulation Market provides a complete growth forecast for the period of 2020 - 2027. It contains a detailed analysis of both qualitative and quantitative aspects of the market. It will greatly help the industry experts, key opinion leaders to get deep insights into the market.
This report has been formed to give a clear market picture of the current market scenario, prospects, and past performances. Moreover, this report also delivers information about growth-promoting and inhibiting factors for the global and regional industry. The report shows that fast growth is expected to be seen in the roof insulation market in the coming times. Let us hope for a quick display of results.
|Market Size||2030: USD 15.86 billion|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Material, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||International A/S (Denmark), Knauf Insulation GmbH (Germany), Saint-Gobain (France), Owens Corning Corporation (U.S.), Berkshire Hathaway, Inc. (U.S.), BASF (Germany), The 3M Company (U.S.), Rockwool International (Denmark), The Dow Chemical Company (U.S.), and Paroc (Finland)|
|Key Market Opportunities||It has the ability to protect the environment from greenhouse gasses and improves the working efficiencies of the system.|
|Key Market Drivers||Insulation is also very effective at absorbing sound and will help reduce noise transmission through the building|
Frequently Asked Questions (FAQ) :
roof insulation market is expected to grow at 6.27% CAGR from 2021 to 2028.
The major driver of the global roof insulation market is the protection of buildings from extreme heat and cold and preventing noise pollution by saving energy.
Flat roofs can lead in the global roof insulation market due to its cost-efficient shape and its capacity to store large volumes of solar energy.
The APAC region can showcase maximum growth for the global roof insulation market owing to low costs for establishing facilities and cost-effective workforce.
Paroc, Saint-Gobain, Berkshire Hathaway, Inc., BASF, The 3M Company, International A/S, Owens Corning Corporation, The Dow Chemical Company, Knauf Insulation GmbH, and Rockwool International are prominent players of the global roof insulation market.