Asia Pacific Roof Insulation Market

RAPID URBANIZATION, ECONOMIC GROWTH, AND BOLSTERING INFRASTRUCTURAL PROJECTS

Infrastructure is always known to be an important factor in economic development, which has attracted much renewed attention in recent years. The need for sustainable infrastructure to meet climate change challenges has induced the demand of roof insulation in the developing countries. New infrastructure development and refurbishment of existing infrastructure is a driving force behind the increasing demand for roof insulation. Roof insulation is practiced in a variety of infrastructures such as industrial, residential, and government buildings. Growing prominence of room temperature controlling in these buildings is expected to further boost the demand for roof insulation in near future.

Accelerated infrastructure spending will drive economic growth, provide jobs, and deliver vital services. The World Economic Forum estimates that every dollar spent on a capital project (in utilities, energy, transport, waste management, flood defense, telecommunications) generates an economic return of between 5% and 25%. China is set to remain the key global building & construction market, driving regional growth over the forecast period. Decades of heavy Chinese investments into infrastructure developments, rapidly expanding urban population, and intensive foreign direct investments (FDI) into manufacturing facilities in the country played a vital role in the building & construction industry’s growth in China.

Faced with the COVID-19 outbreak, China saw contraction in residential and non-residential construction during the first half of 2020 yet managed to swiftly enter recovery as consumer and business confidence rebounded.

GROWING ADOPTION OF INSULATION MATERIALS FOR INCREASING ENERGY EFFICIENCY OF THE BUILDING

Energy efficiency in the built environment is vital to achieving development objectives in emerging economies. There is an increased recognition that the cost of reducing energy consumption is much lower than the cost of generating new energy. The International Energy Agency (IEA) estimated that residential, commercial and public buildings account for up to 40% of the world’s energy consumption. These numbers are even higher for developing countries and recent estimates suggest that developing countries may consume up to 65% of the world's energy by 2040.

Insulation materials could highly impact the overall energy efficiency and sustainability of buildings especially by improving the insulation of the building envelope, appliances or other equipment. Therefore, energy efficient buildings bring many benefits to their users such as lower operating costs due to reduced energy usage and greater comfort through better insulation and lighting.

Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the Asia-Pacific Roof Insulation Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.

The Asia-Pacific Roof Insulation market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the Asia-Pacific Roof Insulation Market are Sika Group, BASF SE, Kingspan Group Plc (Kingspan), Rockwool International A/S, Knauf Insulation (Knauf), Johns Manville, Aerofoam, Protek Asia Ltd, Saint-Gobain, Technonicol. To increase their market reach and client base, key firms are concentrating on acquisitions and product innovation.

Sika  Group: Sika is the worldwide innovation and sustainability leader in the development and production of systems and products for commercial and residential construction, as well as the marine, automotive, and renewable energy manufacturing industries. Sika Corporation is the largest company of the Sika Group, a global leader in specialty chemicals for construction, industrial and automotive markets. With approximately 34,000 employees, Sika has been producing high-quality and innovative technologies for concrete, starting with the first product called Sika®-1, which is still contained in the Sika product portfolio.

Sika's leading position is based on its products for the construction industry: admixtures and additives for the production of concrete, cement, and mortar, waterproofing systems, roof waterproofing, flooring solutions, sealants and adhesive tapes, assembly foams, and elastic adhesives for facade construction, interior and infrastructure construction, and concrete protection and repair solutions.

BASF SE: BASF SE, a chemical company, is the largest chemical producer in the world with revenue. BASF SE operates in 6+ segments, in which the key segments are chemicals, performance products, materials, nutrition & care, agricultural solutions, and others. BASF SE's coating products business segment is one of the company's most important business segments. The segment produces a wide variety of powder coating products. These products are used in a variety of applications, including automotive, construction, and electronics. The company has a global footprint with production facilities in over 30 countries and sales offices in over 91 countries.

Its products are used in a variety of industries, including automotive, construction, furniture and wood, agriculture, electronics and electrical, paints and coatings, home care, nutrition, and chemicals. BASF is at the forefront in the chemical industry, with a workforce of approximately 10,000 dedicated to research and development (R&D).