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News Insulation demand growth to accelerate

Insulation demand growth to accelerate

Written by Global Insulation staff
03 October 2014
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World: A new report from The Freedonia Group has forecast that global demand for insulation will rise by 5%/yr to 24.9Bnm2/yr of R-1 value in the period to 2018. This represents a significant increase from the rate of the 2008 - 2013 period. The foamed plastic insulation sector will post the fastest gains and strong growth in residential building construction activity will be the primary driver of demand.

In developing countries, rising building construction and industrial activity will lead to increased demand for insulation. In many high-income countries, insulation demand will rebound from downturns during the 2008 - 2013 period that were caused, in part, by sharp declines in housing construction. Government efforts, particularly in Western Europe, to reduce energy consumption will lead to the adoption of new building codes that require increased amounts of insulation.

The Asia-Pacific region is forecast to have the fastest growth in insulation demand in the period to 2018, aided by advances in building construction activity as well as manufacturing and industrial output. Over 58% of new global insulation demand generated between 2013 and 2018 will be attributable to this region. Among the regional countries that are expected to post solid growth are China, India and Indonesia.

In North America demand for insulation in residential construction applications will grow 6.5%/yr in R-1 value through 2018, due primarily to a partial recovery in housing construction in the United States. Rural-to-urban migration in developing countries in the Asia, Africa, the Middle East and Central and Southern America will stimulate building activity in urban areas and therefore insulation demand.

Published in Global Insulation News
Tagged under
  • Forecast
  • Consumption
  • Insulation

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