Roof Insulation Global Market Report 2023

New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Roof Insulation Global Market Report 2023" -
, Aspen Aerogels Inc., Johns Manville Corporation, Recticel NV, Unifrax and Zotefoams plc.
The global roof insulation market grew from $10.08 billion in 2022 to $10.37 billion in 2023 at a compound annual growth rate (CAGR) of 2.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The roof insulation market is expected to grow to $12.09 billion in 2027 at a CAGR of 3.9%.
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.
Roof insulation refers to thermal insulation in a roofing system, which is provided by board-type products made of mineral fibers, cellular glass, foamed plastic, lightweight concrete, wood fiberboard, or various materials, which might have a different substance on either the front or back.
Asia-Pacific was the largest region in the roof insulation market in 2022.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 and Africa.
The main types of roof insulation are batts and rolls, rigid insulation, and reflective system.Batts and rolls are designed to slide into cavities between wood frames to control temperatures.
Batts are precut sheets of fibreglass insulation, and rolls are longer versions of batts.These roof insulation are used by residential and non-residential buildings.
Glass wool, stone wool, and plastic foam are the materials used for roof insulation. Flat and pitched roofs are the applications of roof insulations.
The growing construction industry is expected to propel the growth of the roof insulation market going forward.The construction industry is rising because of impending infrastructural projects, ongoing urbanization, and a growing population base.
The increasing energy efficiency requirements and the importance of energy efficiency due to the increasing energy costs in the expanding construction industry are expected to drive the demand for roof insulation products. According to the Global Market Model, the global construction market was estimated to be $12,526.40 billion in 2021 and is expected to reach $17,609.50 billion in 2026, growing at a CAGR of 7.0%. Hence, the growing construction industry will drive the growth of the roof insulation market.
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 2020, Owens Corning, a US-based roofing, insulation, and composite materials company, launched a new product line, FOAMULAR NGX (Next Generation Extruded). The new line of extruded polystyrene (XPS) foam products offers a 90% reduction in global warming potential while offering performance.
In February 2020, Atlas Roofing Corporation, a US-based manufacturer of residential and commercial building materials, acquired StarRFoam for an undisclosed amount.The acquisition will help the Atlas Roofing Corporation to strengthen its product and manufacturing portfolio with the technology and talent available in StaRFoam.
The deal also gives Atlas Roofing access to StaRFoam's manufacturing plants in Texas and Arizona. StarRFoam is a US-based manufacturer of moulded polystyrene solutions.
The countries covered in the roof insulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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.
The roof insulation market research report is one of a series of new reports 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.
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