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News US Demand for Insulation to approach US$9bn in 2016

US Demand for Insulation to approach US$9bn in 2016

Written by Global Insulation staff
22 March 2012
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US: Demand for insulation in the US is forecast to rise by 7.8%/yr to reach US$8.9bn in 2016, according to a new report by the Freedonia Group. The report says that the advance will be driven by a rebound in building construction expenditures from a depressed 2011 base. Further growth will be spurred by changes in building codes and continuing consumer interest in reducing energy consumption and utility bills. It also says that home and building owners will add or upgrade insulation to achieve these goals.

Freedonia says that the residential market will post the most rapid gains until 2016, advancing at a double-digit pace as housing starts to rebound. Moreover, builders will construct homes with larger amounts of insulation to make them more desirable to potential buyers. Residential insulation demand will also be supported by the attic re-insulation and home improvement and replacement markets. Insulation demand in the non-residential market will reportedly also see solid advances. Rebounding non-residential building construction expenditures, particularly in the office and commercial segments, will promote gains.

Fibreglass insulation accounted for the largest share of insulation demand in 2011 with 48%. The report says that fibreglass insulation will remain the market leader in 2016, with demand rising by 8.1%/yr to US$4.4bn. Growth will be spurred by a rebound in the residential market.

Demand for foamed plastic insulation, which accounted for the second largest share of the market in 2011, is expected to rise by 7.3%/yr to US$3.9bn in 2016. Advances will be driven by the rebound in building construction spending.

Demand for radiant barrier and reflective insulation is anticipated to grow by 8.7%/yr to US$190m in 2016. The rebounding housing market will boost demand, with further gains supported by increases in industrial and non-residential building construction spending. Growth will be concentrated in the south and west of the country regions, as structures in those regions are more often exposed to sunlight.

Published in Global Insulation News
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