PUBLISHER: The Business Research Company | PRODUCT CODE: 1436654
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436654
Roof insulation is the thermal insulation present in a roofing system, typically provided by board-type products made from mineral fibers, cellular glass, foamed plastic, lightweight concrete, wood fiberboard, or other materials. These products may have different substances on the front or back, contributing to effective thermal insulation.
The primary types of roof insulation include batts and rolls, rigid insulation, and reflective systems. Batts and rolls, made of materials such as glass wool, stone wool, and plastic foam, are inserted into cavities between wood frames to control temperatures. They are utilized in both residential and non-residential buildings for flat and pitched roofs.
The roof insulation market research report is one of a series of new reports from The Business Research Company that provides roof insulation market statistics, including roof insulation industry global market size, regional shares, competitors with a roof insulation market share, detailed roof insulation market segments, market trends and opportunities, and any further data you may need to thrive in the roof insulation industry. This roof insulation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The roof insulation market size has grown steadily in recent years. It will grow from $10.34 billion in 2023 to $10.7 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The growth observed in the historic period can be attributed to factors such as energy efficiency regulations, an increase in construction and building activities, a growing awareness of energy conservation, the demand for thermal comfort, and government incentives and rebate programs.
The roof insulation market size is expected to see steady growth in the next few years. It will grow to $12.55 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The anticipated growth in the forecast period can be attributed to urbanization and population growth, advancements in building materials, renovation and retrofitting projects, stringent environmental standards, and concerns about energy costs. Significant trends expected in the forecast period include the integration of smart insulation solutions, a focus on noise reduction and acoustic insulation, a rising demand for recyclable insulation materials, customization for energy-efficient buildings, and government initiatives driving energy-efficient construction.
The roof insulation market is expected to witness growth due to the escalating number of residential constructions. Residential construction, involving new constructions or renovations, has seen a 4% rise in housing units built in 2021, reaching 1,337,800, as reported by ToolSense. With a 275% increase in residential building volume between March and July 2020, the demand for roof insulation is rising, enhancing energy efficiency and reducing costs.
The roof insulation market is experiencing rapid growth driven by the expansion of end-use industries such as marine, oil & gas, and petrochemical sectors. These industries, witnessing growth due to economic expansion and industrialization, require roof insulation for protecting pipelines exposed to corrosive chemicals and moisture. An estimate by the International Energy Agency (IEA) predicts an 8% expansion in global energy investment in 2022. Concurrently, the U.S. Census Bureau reports a 0.8% increase in construction spending to $1,744.8 billion in April 2022. Therefore, the growth of end-use industries propels the roof insulation market.
The roof insulation materials market witnesses major players prioritizing technological innovations to maintain their market positions. In January 2021, Armacell, a Luxembourg-based manufacturer and supplier of industrial foams and flexible insulation materials, unveiled a new AF/ArmaFlex generation. This advancement, meeting fire class B/BL-s2, d0, elevates fire safety in buildings. The elastomeric foam technology not only enhances visibility in case of a fire but also emits 50% less smoke compared to other materials. This innovation addresses the need for safer, environmentally friendly, and cost-effective adhesives in various industries, providing a sustainable and high-performance solution for rubber-to-metal bonding.
A notable trend gaining popularity in the roof insulation market is the introduction of new products and advancements. Leading companies in this market are actively involved in research and development to create products that minimize environmental impact and promote sustainability. In June 2022, DuPont, a US-based chemical company, unveiled DuPont Thermax NH Insulation, featuring an innovative glass fiber-reinforced foam core with a high R-value. This insulation is designed for use in interior finish systems for walls and ceilings, as well as exterior continuous insulation. Noteworthy attributes include its ability to be left exposed on interior walls and ceilings without a thermal barrier, providing consistent high-performance R-values, and being environmentally friendly with zero ODP, HFC-free, and low VOC.
In March 2023, Installed Building Products Inc., a US-based construction company specializing in existing home insulation, after-paint products, residential, and commercial insulation construction, acquired Anchor Insulation Co. Inc. for an undisclosed amount. This acquisition allowed Installed Building Products to extend its reach for residential, commercial, and industrial customers throughout the Northeastern United States. Anchor Insulation Co. Inc., based in the US, is engaged in the installation of mechanical, residential, and industrial insulation.
Major companies operating in the roof insulation market report are Berkshire Hathaway Inc., BASF SE, Saint-Gobain SA, Dow Inc., DuPont deNumorous Inc., Owens Corning Inc., Kingspan Group PLC, Huntsman International LLC, Carlisle SynTec Systems, Cabot Corporation, Rockwool International A/S, Synthos SA, Beijing New Building Material (Group) Co. Ltd., Knauf Insulation GmbH, Morgan Advanced Materials PLC, Certain-teed Products Corporation., Paroc Group Oyj, IKO Industries Ltd., Atlas Roofing Corporation, Johns Manville Corp., Aspen Aerogels Inc., Guardian Building Products Inc., Lapolla Industries Inc., Atlas Molded Products, Building Products of Canada Corp., Insulation Company of America, Insulation Technology Inc., General Aniline & Film Corp., American Rockwool Manufacturing LLC, Icynene Inc., Lloyd Insulations (India) Limited, Recticel Insulation Oy Company, Soprema USA, Superglass Insulation Ltd., Technonicol Corporation, Ursa Group
Asia-Pacific was the largest region in the roof insulation market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the roof insulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the roof insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The roof insulation market consists of sales of cellulose roof insulation and blow in insulation. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Roof Insulation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on roof insulation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for roof insulation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The roof insulation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.