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Global Roof Insulation Market size is predicted to reach $13.75 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Market prospects are being expanded by innovations in insulation materials and technology, such as the creation of sustainable, high-performance insulation solutions. The demand for roof insulation in both residential and commercial buildings is being driven by rapid urbanization and rising construction activity, especially in emerging nations. Effective roof insulation is becoming more and more popular among consumers and businesses as a result of the long-term financial advantages linked to lower energy bills these are the factors driving the demand for the roof insulation market. Finds IndustryARC in its recent report, titled “Roof Insulation Market By Type (Batts & Rolls, Rigid Insulation, Reflective systems, Others), By Material (Glass Wool, Stone Wool, Plastic Wool, Others), By Application (Flat Roof, Pitched Roof, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”
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APAC to Register Highest Growth:
The APAC Roof Insulation Market is projected to experience significant growth CAGR of 7.2% during the forecast period. The Asia-Pacific (APAC) region’s roof insulation market is anticipated to develop at the fastest rate in the upcoming years due to a combination of factors including rising energy awareness, increased construction activity, and rapid urbanization. APAC, which has some of the world’s fastest-growing economies, is experiencing a building boom, especially in Southeast Asian, Chinese, and Indian nations. The growing middle class and the current construction boom are fueling the need for efficient insulation solutions to increase the energy efficiency of both residential and commercial buildings. The need for roof insulation is being further driven by the implementation of tighter building codes and energy efficiency standards by governments across APAC. Furthermore, the use of energy-efficient building materials, such as cutting-edge roof insulation technologies, is being encouraged by the increased emphasis on sustainable development and the reduction of greenhouse gas emissions. Because of the hot and muggy weather in the area, efficient insulation is also necessary to minimize the need for air conditioning, which lowers energy expenses and consumption. Because of this, the APAC Roof Insulation Market is anticipated to grow rapidly, with manufacturers placing a greater emphasis on this area to capitalize on its enormous potential and satisfy the growing demand for energy-efficient building solutions.
Roof Insulation Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
5.5% |
|
Market Size in 2030 |
$13.75 billion |
|
Segments Covered |
By Type, By Material, By Application, and By Region |
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Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. BASF SE 2. Rockwool International A/S 3. Johns Manville 4. Paroc Group 5. Owens Corning Corporation 6. GAF 7. Knauf Insulation 8. Beijing New Building Material (Group) Co., Ltd. 9. Saint Gobain 10. Kingspan Group PLC |
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Roof Insulation Market Report – Key Takeaways:
Rigid Insulation Segment to Register the Highest Growth
Rigid insulation Segment analyzed to grow with the highest CAGR of 6.6% during the forecast period 2024 to 2030. The rigid insulation market is expected to increase significantly, and one of the main drivers of this growth will be the market for roof insulation. The increased demand for rigid insulating materials can be attributed to their higher thermal performance and durability. Examples of these materials include boards composed of polyurethane, polystyrene, and polyisocyanurate. To improve building energy efficiency, these materials are very good at limiting heat transmission and offering insulation. The widespread use of rigid insulation in both residential and commercial settings contributes to its appeal. Space-constrained projects benefit greatly from their high insulation value per unit thickness, and its durability and dependability are enhanced by its resistance to moisture and mechanical stress. The need for rigid insulation is anticipated to rise sharply as energy efficiency becomes a crucial consideration in the construction and restoration of buildings. The sector is positioned for the highest growth within the roof insulation market due to its capacity to provide long-term energy savings and the increasing governmental support for sustainable construction techniques. This pattern is a reflection of the general movement toward long-lasting and more effective building solutions.
Flat Roof Segment is Leading the Market
The flat roof segment is dominating the Roof Insulation Market in 2023 with a market share of approximately more than 50%. The flat roof category is emerging as a major contributor to the current strong expansion in the roof insulation market. Flat roofs are the main driver of this trend because of their distinct benefits and the rising demand for energy-efficient solutions. They are frequently seen in commercial buildings, industrial structures, and increasingly in residential settings. Modern construction can benefit greatly from the functional and aesthetically beautiful option that flat roofs provide, and its popularity is driving up demand for efficient insulation solutions. To stop heat loss, use less energy, and improve a building’s overall performance, flat roof insulation must be done correctly. The flat roof market is expanding due to its substantial potential for insulation innovations and emphasis on sustainability and energy efficiency. The need for high-performance insulation materials is being driven by the growing use of flat roofs in urban settings, as well as strict building requirements and energy laws. These materials help to mitigate problems like moisture intrusion and thermal bridging, which not only improves thermal comfort but also support the long-term durability of flat roofs.
High Material Costs is a Major Challenge
One significant obstacle facing the roof insulation market is the high cost of materials, which affects both producers and end users. Insulation materials are crucial for increasing energy efficiency and lowering heating and cooling expenses. Examples of these materials are fiberglass, foam boards, and spray foam. However, several variables, including higher raw material costs, supply chain interruptions, and production costs, have increased the prices of these products. Elevated material expenses pose a noteworthy obstacle to the expansion of the market, impacting accessibility and affordability for different stakeholders. Increased insulation prices may discourage consumers from investing in energy-efficient solutions, particularly in areas with laxer building rules or when cost concerns are present.
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Key Opportunity Analysis:
Advancements in Insulation Materials and Technologies
The market for roof insulation is expected to increase rapidly due to developments in insulation materials and technologies. For instance, in March 2022, ACC created several products and solutions that assist the community of architects, engineers, and developers as well as house builders. An innovative concrete system called ACC Airium, which insulates the surface during construction, is a long-lasting roofing solution based on mineral foam technology. Considerable prospects for improving performance and growing the market are offered by these developments. The way that roofs are insulated is changing due to recent advancements in insulation materials, which have better environmental impact and increased thermal resistance. More sustainable and efficient insulation options are being made possible by emerging technologies such as enhanced foam formulations, reflecting and radiant barriers, and eco-friendly materials. High-performance materials, such as vacuum insulation panels and spray foam, provide better moisture control and thermal efficiency, resolving issues with conventional insulation techniques. These developments increase the lifetime and durability of roofing systems in addition to improving energy efficiency.
Expansion of Retrofit and Renovation Projects
The market for roof insulation is expected to rise as more retrofit and renovation projects become available, which represents a big opportunity. The demand to update older buildings to meet modern performance and sustainability standards is growing as building ages and energy efficiency regulations tighten. Increasing energy efficiency can be accomplished through retrofit and renovation projects, and roof insulation is essential to this process. It is necessary to make upgrades to many older buildings that were built before current insulation standards were set to enhance their thermal performance. Retrofit projects improve indoor comfort, lower energy loss, and provide new or upgraded insulation to existing roofs. Pressure from regulations as well as the increased focus on energy conservation are the driving forces behind this development.
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The report also covers the following areas:
Roof Insulation Market 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic momentarily caused difficulties in the roof insulation market due to supply chain delays and building delays. However, a rise in house repair projects and an increased focus on energy efficiency are driving up demand for insulating solutions as the economy stabilizes and the building sector recovers.
The conflict between Russia and Ukraine has raised material costs and disrupted the supply chain, which has an impact on the roof insulation market. The pricing and availability of insulating materials have been impacted by trade restrictions and geopolitical unrest, which has increased market volatility and caused delays in projects.
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List of Key Market Players in the Roof Insulation Market:
The Global Roof Insulation Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
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