Growing Environmental Awareness among End Users to Drive Roof Insulation Market
The global roof insulation is examined in detail in the latest research report from Market Research Future (MRFR). According to the new report, the global roof insulation market is expected to exhibit a solid 4.12% CAGR over the forecast period till 2023.
Roof insulation is used in buildings to insulate the roof area and provide various benefits, such as thermal and sound insulation, as well as fireproofing. Roof insulation is a specific category of insulation materials used especially for roof applications. The growing construction industry is the major driver for the global roof insulation market. Apart from this, the growing environmental awareness among house buyers and owners is also a major driver for the global roof insulation market. Due to this, the demand for roof insulation has grown by leaps and bounds and is likely to continue to grow over the forecast period till 2023.
Roof insulation helps bring down the energy costs of the house or building in question by trapping excess heat and providing a warming effect, protecting the inhabitants against excess cool. As a result, insulation has proved especially popular in cooler climates, making the Northern regions of the planet a major market for insulation products, including roof insulation. Several governments in Northern areas such as North America and Europe have also initiated legislation providing tax cuts and concessions if building users utilize insulation and thus cut down on energy consumption. This has also been a major driver for the global roof insulation industry. Increasing environmental awareness among house buyers and building owners is likely to remain a major driver for the global roof insulation market over the forecast period.
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.
Regional Analysis:
Asia Pacific has exhibited robust growth in the global roof insulation market over recent years and is likely to remain a leading entity in the global roof insulation market over the forecast period. The growing construction industry in Asia Pacific is the major driver for the global roof insulation market. As the number of households and commercial complexes in Asia Pacific has increased, this has been followed by a growing demand for secondary construction materials such as roof insulation. Cheap labor costs, low operating costs, and low costs of setting up manufacturing facilities in Asia Pacific have also been important drivers for the roof insulation market in the region.
North America is also likely to be a major regional market for roof insulation over the forecast period. The cooler temperatures in North America necessitate the use of roof and other insulation products to maintain warmth inside buildings. This has driven the demand from the roof insulation market in the region. Europe is also likely to remain a key regional market for fireproof insulation.
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