Roof Insulation Market - Forecast(2024 - 2030)

Roof Insulation Market is forecast to reach $13.75 billion by 2030, after growing at a CAGR of 5.5% during 2024-2030. Due to its numerous applications, especially in the residential sector, the demand for roof insulation is predicted to register a steady rise in growth during the forecast period. Some of the typical factors which are expected to drive demand on the global market are rising new buildings, tax credits and rebates, and a strict regulatory environment. The other factors projected to boost market growth are cost efficiency and reduction of greenhouse gas emissions. The increasing demand for roof insulation is driven by several factors, chiefly the construction industry's focus on energy efficiency and sustainability. With growing awareness of the environmental impact of buildings, developers and homeowners alike are seeking ways to improve energy efficiency and reduce carbon footprints. Roof insulation plays a crucial role in this endeavor by preventing heat loss in the winter and heat gain in the summer, resulting in lower energy consumption for heating and cooling purposes. Moreover, governments and regulatory bodies worldwide are implementing stringent energy efficiency standards and offering incentives to promote the adoption of energy-saving measures, including roof insulation. As a result, the roof insulation market is experiencing significant growth as stakeholders prioritize sustainable building practices and seek solutions to mitigate climate change while optimizing energy usage and reducing utility costs. One primary driver fueling the demand for roof insulation is the increasing emphasis on energy efficiency in buildings. As energy costs continue to rise and environmental concerns grow, there's a heightened focus on reducing energy consumption in both residential and commercial structures. Roof insulation acts as a barrier, minimizing heat transfer through the building envelope and reducing the need for heating and cooling systems. This not only lowers energy bills for occupants but also decreases the overall carbon footprint of the building. Consequently, building owners and developers are increasingly investing in roof insulation as a cost-effective means of improving energy efficiency and meeting sustainability goals, driving the growth of the roof insulation market.

The “Roof Insulation Market Report – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Roof Insulation Market.

By Type – Batts & Rolls, Rigid Insulation, Reflective systems, Others

By Material- Glass Wool, Stone Wool, Plastic Wool, Others

By Application- Falt Roof, Pitched Roof, Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa)

• Keeps the house warmer in winter and cooler in summer reduces bills for gas and electricity and reduces noise from outside and helps to reduce the carbon footprint in houses.

• This helps to reduce noise pollution, improve comfort reduces energy costs and maintains a healthy atmosphere. In line with the structural deck and membrane, insulation has become an important part of the roof assembly and functions.

• In addition, increased demand for insulating materials in extreme weather countries would lead to the development of the global market for roof insulation.

• Many vendors and research institutes are developing new sheets of polyurethane foam for various roofing applications, such as photo cross-linkable polyurethane.

Batts & Rolls segment held the largest share in the Roof Insulation Market in 2023. This provides adequate insulation, is cost-effective and easy to use. Batt insulation in the form of pre-cut panels and rolls is available Simple integration between studs and joists blocks is made without gaps due to its versatility. Batts & rolls roof insulation is capable of reducing the amount of energy required for cooling and heat insulation of the home by 50 percent. Because of its advantages, it will fuel market demand over the forecast period.

Glass wool segment held the largest share in the Roof Insulation Market in 2023. This market segment's growth is due to its highly preferred roof insulation material globally, and its growth is expected to continue in the near future. In addition to excellent mechanical and thermal properties, it is non-degradable, less toxic and non-combustible. Likewise, with regard to their specific uses, glass wool and flat roof are expected to set the tone, respectively, for the material and roof insulation markets.

Pitched Roof segment has been the primary market for Roof Insulation for many years is growing at a CAGR of 4.87%. This pitched roof has advantages over others such as superior performance insulation, economical, durable, ecological, easy and fast installation.

 Europe dominated the Roof Insulation Market share with 40%, followed by North America and Asia Pacific. The global market for roof insulation raises environmental concerns regarding buildings and energy savings in countries such as Germany and the United Kingdom. The expansion of the construction industry in the developing world, such as Europe, contributes to the growing demand for roof insulation. The construction industry in Europe is worth $4.95 trillion and is expected to reach $5.45 trillion by 2023, according to ENG Cranes. Europe's robust economic growth has increased construction activities in the region, further enhancing the overall growth of the market..

Due to its numerous applications, particularly in the residential sector, the roof insulation market is predicted to record steady growth during the forecast period. The factors which are projected to boost market growth are cost efficiency and reduction of greenhouse gas emissions. The market for roof insulation tops demand in residential and commercial applications by providing critical benefits such as noise cancellation, reduction in carbon footprint and power and gas bills, and preservation of optimal room temperature in warmer and colder seasons. Isolation forms an important element of roof assemblies and is required to work in conjunction with membrane and structural decks. Nonetheless, growth opportunities resulting from various roof insulation technologies and types are expected to help players heave a sigh of relief. With the ability to curb energy use for heating (heat retention) or cooling purposes by approximately 50% in a residential setting, batts and rolls are considered to be a leading segment of the product type.

Asphalt shingles roofing has emerged as a highly popular option for constructing roofs due to their low installation costs. These roofs are, however, vulnerable to extreme weather conditions and their manufacturing process also results in the release of harmful effluents. Moreover, the recycling process of demolished shingles is a costly affair leading to huge landfills of asphalt waste. The ensuing threat to the environment is quite high with the use of such roofing systems. Alternatively, green roofing, metal roofing, synthetic fiber roofing, and others can be included in the roof-building process to create durable, eco-friendly, and weather-resistible roofs. A major concern affecting the construction industry is the shortage of skilled labor, which also has a negative impact on the roofing industry. Major companies within the industry are training employees and also increasing pay scales in a bid to target competent and well-trained workers.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Roof Insulation Market. In 2018, the market of Roof Insulation has been consolidated by the top five players accounting for xx% of the share. Major players in the Roof Insulation Market BASF SE, Rockwool International A/S, Berkshire Hathaway, Inc., Paroc Group, Owens Corning Corporation, GAF, Knauf Insulation, Beijing New Building Material (Group) Co., Ltd., Kingspan Group PLC, Saint-Gobain S.A, among others.

• In June 2023, Saint-Gobain announced that it has entered into a definitive agreement for the acquisition of Building Products of Canada Corp., a privately owned manufacturer of residential roofing shingles and wood fiber insulation panels in Canada, for C$1,325 million (approximately €925 million) in cash.

• In March 2022, ACC Ltd launches climate control concrete insulation system in India. ACC Ltd has unveiled a thermal insulating climate control concrete system ‘ACC Airium’ a mineral foam based insulating technology, is a unique concrete system which becomes a long-lasting roofing solution that insulates the surface at the time of construction itself.