Insulation is form of material that retards or prevents the transmission of heat, moisture, shock, electricity, or sound from one item or medium to another. Insulation is important since it lowers energy cost, reduces noise pollution, and increases comfort by maintaining healthy environment. Insulation has become a vital part of the roof assembly and must function in accordance with the membrane and structural deck. There are various advantages of roof insulation. For instance, it reduces gas and electricity bills, keeps house warmer in winter and cooler in summer, helps lower carbon footprint in a home, and reduces noise from outside (e.g. traffic noise, industry noise, etc.). Stringent government environmental norms, tax benefits, and increase in new construction activities across globe are the major factors projected to drive the demand for roof insulation during the forecast period. However, sluggish growth in the construction segment in developed countries and lack of awareness about proper insulating materials may hamper the roof insulation market.
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Based on type, the roof insulation market can be classified into batts & rolls, rigid insulation, and reflective systems. Roof insulation can be manufactured through different materials such as stone wool, glass wool, plastic foam. Based on application, the roof insulation market can be categorized into flat roof and pitched roof.
The batts & rolls segment accounted for major share of the roof insulation market in 2015. It is anticipated to continue its dominance during the forecast period. Batts and rolls are easy to use, cost effective, and can provide proper insulation. These are the primary factors estimated to fuel the batts & rolls segment. Batt insulation is available in rolls and pre-cut panels. It is flexible and therefore can be installed between joists blocks, and studs without any gaps. Batts & rolls roof insulation can lower the amount of energy required to heat and cool a home by around 50%.
Based on material, glass wool held the major share of the roof insulation market in 2015. It is projected to dominate the market during the forecast period. Glass wool materials are less expensive, flexible, non-degradable, lightweight, and non-combustible vis-à-vis other materials with excellent mechanical and thermal properties. Thus, glass wool is a highly preferred material for roof insulation.
Between flat roof and pitched roof, the former is a widely used shape for roof insulation. It constitutes significant share of the roof insulation market. The flat roof segment is likely to expand at a rapid pace during the forecast period. Flat roof enables complete utilization of the room space and has the capacity to absorb high amount of solar energy at low cost. These are the major factors expected to drive the flat roof insulation market during the forecast period.
Based on region, Europe dominates the roof insulation market, followed by North America and Asia Pacific. However, this trend is anticipated to change during the forecast period. The roof insulation market in Asia Pacific is estimated to expand at a rapid rate vis-à-vis that in other regions during forecast period. Increase in residential and non-residential construction coupled with growth in industrialization is fueling the demand for proper roof insulation. Rise in urbanization in emerging economies such as China and India and implementation of environmental regulations related to buildings and energy savings are the key factors projected to drive the roof insulation market in the near future. The roof insulation market in Europe is likely to witness sluggish growth compared to that in other regions due to the economic downturn. This is expected to significantly impact the construction sector in many countries in Europe.
Key players operating in the global roof insulation market include Owens Corning Corporation, Saint-Gobain, Knauf Insulation GmbH, and Rockwool International A/S.
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