Roof Insulation Market Driven by Growing Construction Industry

 Roof Insulation Market Overview

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.

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Competitive Analysis:

Leading players in the global roof insulation market include Paroc, The Dow Chemical Company, Rockwool International, 3M, BASF, Berkshire Hathaway Inc., Owens Corning Corporation, Saint-Gobain, Knauf Insulation GmbH, and International A/S. Product development to offer more refined and effective forms of insulation is likely to remain a major strategy for players in the global roof insulation market.

Segmentation:

The global roof insulation market is segmented on the basis of material, product type, application, and region.

By material, the global roof insulation market is segmented into glass wool, stone wool, plastic foam, and others. Glass wool holds the largest share in the global roof insulation market and is likely to remain the leading entity over the forecast period.

By product type, the global roof insulation market is segmented into batts and rolls, rigid insulation, reflective systems, and others. The batts and rolls segment holds the largest share in the global roof insulation market.

By application, the global roof insulation market is segmented into flat roofs and pitched roofs. The flat roofs segment is expected to dominate the roof insulation market over the forecast period due to the ease of fitting solar power generators on flat roofs.

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Regional Analysis:

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.

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Recent Developments

Jan 2022 - Westlake Royal Building Products has presented Westlake Royal Roofing, one of six innovative product solutions released as a complete brand overhaul. Westlake Royal Roofing combines the portfolios of the former Boral® North America roofing and DaVinci® Roofscapes lines, both of which were significant purchases for Westlake Royal Building Products USA Inc. and its parent company, Westlake, over the last three years. These underlayments enhance the weather resistance, efficiency, and overall longevity of our clay, concrete, steel, and composite roofing systems.

Jan 2022 - Apollo, the largest independent maker of liquid adhesives, coatings, and primers for the roofing, industrial, and construction markets in the United Kingdom, has been purchased by H.B. Fuller Company. Apollo, based in Tamworth, is expected to generate £42 million in revenue and £11 million in EBITDA in 2022. Apollo will be part of H.B. Fuller's existing Construction Adhesives and Engineering Adhesives business groups and is expected to reinforce the company's position in important high-value, high-margin sectors in the UK and Europe.

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