Asia-Pacific Roof Insulation Market Forecast to 2030
The growth of the Asia-Pacific roof insulation market is attributed to the increasing demand for energy efficiency and the reduction of greenhouse gases. Furthermore, factors like more energy requirements are driving the market growth. However, a lack of awareness and potential health-related issues is anticipated to hamper the market growth.
Roof Insulation is used commercial and residential buildings for temperature controlling. Insulation materials are those which can prevent the transfer of heat, sound, and electricity from one side to another. Similarly, roof insulation prevents the heating of the house from solar radiation during hot days and from overcooling during colds. Moreover, it has the additional advantage of preventing noise transfer. Therefore, it helps in creating a peaceful and comfortable environment inside the house.
Market SegmentationBased on type, the Asia-Pacific roof insulation market has been segmented into batts & rolls, spray applied, rigid insulation, reflective systems, and others.
The batts & rolls segment held the majority share in 2021 due to the cost-effectiveness, ease to use, and provide proper insulation. Furthermore, a majority of the insulant materials are manufactured in the form of batts & rolls in the Asia-Pacific, thus fueling the growth of the roof insulation market.
Based on material, the Asia-Pacific roof insulation market has been segmented into plastic foam, glass wool, stone wool, and others.
The glass wool segment held a significant share in 2021 due to the ease of use, physical stability, excellent mechanical & thermal properties, non-degradable, and less toxic. In addition, glass wool also possesses superior insulation in a wide range of temperatures ranging from -30 °C to 540 °C. Thus, fueling the growth of the Asia-Pacific roof insulation market.
Moreover, 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 & colder seasons, reduction in carbon footprint, power & gas bills, and noise cancellation. Furthermore, the growing consumer awareness and the development of new products will further fuel the industry revenue in Asia-Pacific.
Regional AnalysisAsia-Pacific roof insulation market provides the low cost of setting up manufacturing units, relatively cheap skilled labor, and less operational cost within the region. In addition, the reduction of greenhouse gases, low cost of renovation, and energy efficiency are also boosting the market growth. Key factors attributed to its increasing demand for residential and commercial applications, and the presence of many market players in the region. The roof insulation market gives rise to environmental concerns regarding buildings and energy savings in countries such as China and India. The expansion of the construction industry in the Asia-Pacific leads to the development of the demand for roof insulation. The construction industry in the Asia Pacific is worth USD 4.52 trillion and, according to ENG Cranes, is expected to reach USD 5.45 trillion by 2022. Additionally, energy-saving initiatives and modifications in building regulations have aided the growth of the market in this region. Therefore, with the presence of emerging economies, such as China, Indonesia, and India the construction sector in this region is expected to witness significant growth in the coming years. This is consequently expected to lead to growth in the roof insulation market in Asia-Pacific.
Major PlayersBASF SE, Saint-Gobain, ROCKWOOL Group, Kingspan Group Plc, and Berkshire Hathaway Inc. Knauf Insulation, Beijing New Building Material (Group) Co., Ltd., and Sika AG
Companies MentionedBASF SE
Saint-Gobain
ROCKWOOL Group
Kingspan Group Plc
and Berkshire Hathaway Inc. Knauf Insulation
Beijing New Building Material (Group) Co.
Ltd.
and Sika AG
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