Roof Insulation Market worth USD 15.86 billion by 2028, registering a CAGR of 6.27% – Report by Market Research Future (MRFR)
New York, Oct. 06, 2021 (GLOBE NEWSWIRE) — Roof Insulation Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Roof Insulation Market Research Report, Type, Material, Application, End-Use and Region – Forecast till 2027” the market is projected to be worth USD 15.86 billion by 2028, registering a CAGR of 6.27% during the forecast period (2021 – 2028)., The market was valued at USD 11.15 billion in 2021.
Market Competitive Analysis:
List of important manufacturers in the global roof insulation market profiled are:
- International A/S (Denmark)
- Paroc (Finland)
- Saint-Gobain (France)
- Rockwool International (Denmark)
- Berkshire Hathaway, Inc. (U.S.)
- The 3M Company (U.S.)
- BASF (Germany)
- Owens Corning Corporation (U.S.)
- The Dow Chemical Company (U.S.)
- Knauf Insulation GmbH (Germany)
- Among others.
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Market Research Future’s Review on Roof Insulation Market
Market Scope: Insulation is a material or a mixture of two or more materials, which can be used to prevent heat gain or heat loss to save energy. The material is available in all sizes and shapes as per the requirement. It can improve the working efficiencies of the system and protect the environment from greenhouse gasses. The market is expected to witness substantial growth in the forecasted period mainly due to effective sound-absorbing and cost-effectiveness.
Market USP Covered
Market Drivers
Given the numerous applications, especially in the residential sector, the roof insulation market is projected to record a substantial growth rate in the projected period. The factors like reduction of greenhouse gas emissions and cost-efficiency are the primary reason causing an upsurge in market growth. The growth in demand from residential and commercial applications is anticipated to boost the market growth due to numerous benefits, such as preservation of optimal room temperature in warmer and colder seasons, reduction in carbon footprint and power and gas bills, and noise cancellation.
Market Restraints
Though the global market for roof insulation is growing at a substantial rate globally, some aspects are likely to be impeded. The major factor anticipated hampering the growth of the roof insulation market is the availability of numerous alternatives. Also, the fact that these insulated roofs are vulnerable to extreme weather conditions and the manufacturing process involves the release of harmful effluents is likely to restrict the market growth in the projected period. Furthermore, the lack of skilled labor in the global market is also anticipated to restrict the market growth in the forecasted period.
Browse In-depth Market Research Report (185 pages) on Roof Insulation
https://www.marketresearchfuture.com/reports/roof-insulation-market-4749
COVID-19 Analysis
The occurrence of COVID-19 has impacted several industry sectors. The roof insulation market is no different. The primary disturbance is in the supply chain. The shift of COVID-19 from a China-centric challenge to a global pandemic has caused an impact on the global roof insulation supply chains and markets.
The ongoing pandemic has had numerous challenges for the roof insulation market and disturbed the global economy. The worldwide crisis, the path of recovery, and the duration of the recession will widely determine the nature and severity of these challenges. The impact it had on the construction industry is the primary cause of the disruption in the roof insulation market.
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Segment Analysis
The global roof insulation market is bifurcated into numerous segments based on type, material type, application, and region. Based on type, the market classification is rigid insulation, reflective systems, and batts & rolls. The batts & rolls segment is leading the global market owing to the benefits it offers, such as ease of use, cost-effectiveness, and offers proper insulation.
By material type, the market is divided into glass wool, plastic foam, and stone wool. Among these, the glass wool segment is leading the global market owing to highly favored roof insulation material, and the growth is expected to continue in the forecasted era.
Based on the application, the market is bifurcated into a pitched roof and flat roof. The flat roof application segment is projected to lead the global market, given that flat roofs are cost-effective roof slopes and complete room space can be used. Additionally, these flat roofs tend to gain heat as the direct solar energy falls, boosting the demand for the segment.
Regional Analysis
The global market for roof insulation is divided into North America, Asia-Pacific, Europe, the Middle East & Africa, and South America. The European market for roof insulation is dominating the global market, given the rise in residential and non-residential construction in this region. The North American region is anticipated to hold the second position during the projected timeframe. The growth in industrialization is mainly driving the growth of the region. The Asia-Pacific roof insulation market is soon projected to witness a higher growth rate. The regional market’s growth is being propelled by the rise in environmental concerns about buildings and energy savings in nations like India and China.
Segmentation of Market covered in the research:
Roof Insulation Market Information By Type (Batts & Rolls, Rigid Insulation, Reflective Systems and Others), By Material (Glass Wool, Stone Wool, Plastic Foam and Others), By Application (Flat Roof, Pitched Roof) and Region – Forecast to 2028
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