Categories: Market Research

Roof Insulation Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Roof Insulation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Roof Insulation Global Market Report 2024, 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 in the historic period can be attributed to energy efficiency regulations, rise in construction and building activities, growing awareness of energy conservation, demand for thermal comfort, 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 growth in the forecast period can be attributed to urbanization and population growth, advancements in building materials, renovation and retrofitting projects, stringent environmental standards, energy cost concerns. Major trends in the forecast period include integration of smart insulation solutions, focus on noise reduction and acoustic insulation, rising demand for recyclable insulation materials, customization for energy-efficient buildings, government initiatives driving energy-efficient construction.

The increasing number of residential constructions are expected to propel the growth of the roof insulation market going forward. Residential construction involves the construction of new spaces or renovation of old spaces such as buildings, apartments, and housing units that are intended for personal occupancy. Roof insulation plays a crucial role in improving energy efficiency, reducing energy costs, and providing added protection for buildings. For instance, in 2022, according to a report shared by ToolSense, an Austria-based software company related to construction, facility services, mining, agriculture, logistics, or manufacturing, the number of housing units built in 2021 was 1,337,800, a 4% rise over the previous year. Between March and July 2020, the volume of residential building rose by 275%. Therefore, the increasing number of residential constructions are driving the growth of the roof insulation market.

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The roof insulation market covered in this report is segmented –

1) By Type: Batts And Rolls, Rigid Insulation, Reflective system

2) By Building Type: Residential, Non-Residential

3) By Material: Glass Wool, Stone Wool, Plastic Foam, Other Materials

4) By Application: Flat Roof, Pitched Roof

New product launches and developments are a key trend gaining popularity in the roof insulation market. Major companies in the roof insulation market are advancing in their research and development for developing products that lower environmental damage and promote higher sustainability. For instance, in June 2022, DuPont, a US-based chemical company, launched DuPont Thermax NH Insulation with innovative glass fiber-reinforced foam core and high R-value It is specifically made to be used as interior finish systems for walls and ceilings as well as outside continuous insulation. Its distinctive qualities include being able to be left exposed on interior walls and ceilings without a thermal barrier and providing consistent, high performance R-value at both 75 °F and 40 °F (UL 1715), Zero ODP, HFC-free, and low VOC.

The roof insulation market report table of contents includes: