Insulation industry news from Global Insulation
Germany: Researchers at the Fraunhofer Institute for Applied Polymer Research have developed a novel insulation from fungal mycelium. Professional Engineering News has reported that the materials are naturally woven by the mycelium filaments by which fungi spread. Researchers successfully varied fungus type, feed and environmental conditions to produce a range of performance characteristics comparable to conventional expanded polystyrene (EPS) and extruded polystyrene (XPS) insulation. Additionally, the materials offer high fire resistance and moisture regulation.
Knauf and Knauf Insulation launch knauf.com
13 September 2024World: Germany-based gypsum wallboard and plaster producer Knauf and its insulation subsidiary Knauf Insulation have consolidated their online presence with a new website, knauf.com. The site offers access to the group’s entire product range. Knauf said that the shift aims to help customers to increase their productivity.
Knauf Ibérica marketing and technical director Pablo Maroto said "This new platform reinforces our commitment to innovation and facilitates access to our solutions at a global level."
World: Market research firm Future Market Insights (FMI) has forecast a composite annual growth rate of 6% in the global polyisocyanurate (PIR) insulation market up to 2033. This will result in 81% decade-on-decade growth to US$25.6bn in 2033. FMI noted technical developments affecting the use of customised PIR boards in the prefabricated construction as a main driver of the growth. Nationally, the market will have a CAGR of 8% in China, 7% in India, 6% in the UK, 5% in Canada and 4% in Germany.
FMI said “In the rapidly changing world of PIR insulation, innovation and sustainability have emerged as dynamic forces reshaping the industry’s trajectory. The market is going through a fundamental shift, moving beyond its traditional role of providing insulation and into uncharted territory where cutting-edge technologies are poised to redefine its boundaries.”
Kingspan Czechia’s sales drop in 2023
23 July 2024Czech Republic: Kingspan Czechia’s sales dropped by 22% year-on-year to €142m in 2023. Its profit also declined, by 42% to €6.27m. Throughout the year, the company produced 4.66Mm2 of insulation panels, down by 4% from 2022 volumes. It reported total export sales of €108m, down by 23%. The main markets for the producer’s insulation were Germany, Austria, Switzerland and Slovakia. It holds a 25% market share in insulation sandwich panels in its native Czech Republic, up from 22% at the start of 2023. ČTK Business News has reported that Kingspan Czechia plans to begin construction of a new mineral wool insulation panels plant later in 2024.
General manager Stanislav Cihlar said "The new plant will be used to produce world-class insulation panels and will become an important pillar for our future growth.”
Varm wins €5.7m seed funding for European expansion
17 July 2024Germany: Insulation installation start-up Varm has secured €5.7m in seed funding to expand its operations across Europe. The round was led by Emerge and Pale Blue Dot, with contributions from Noa, Foundamental and previous investors.
CEO Christian Gruener said “We are building a scalable infrastructure for insulation. This funding will help us expand and innovate, making insulation more accessible and affordable for everyone.”
Sto publishes 2024 full-year outlook
02 May 2024Germany: Sto has published its outlook for 2024, after recording ‘below target’ turnover in the first quarter of the year. The producer attributed this to adverse weather conditions in January 2024 and reduced working days in March 2024. For the full year, it now expect to record a turnover of €1.79bn and earnings before interest and taxes (EBIT) of €113 – 138m. It noted particular on-going ‘major challenges’ in its domestic German market.
Germany/Ukraine: The Würzburg Prosecutor's Office has opened a preliminary investigation into Knauf over its alleged involvement in the on-going reconstruction of Russian-occupied Mariupol. The investigation will seek to establish whether an ‘initial suspicion’ of criminal activity exists. Germany-based media outlet ARD published its allegation of Knauf’s involvement in the reconstruction via the use of its materials earlier in April 2024.
The producer denied the allegations, adding that it complies with relevant laws and sanctions.
Germany: Kingspan acquired the Ronneburg stone wool insulation plant in Thuringia from Karl Bachl on 4 April 2024. Karl Bachl says that the divestment will help it to concentrate more on its core business. Besides insulation, the company also supplies construction services, prefabricated buildings and stone and precast concrete elements.
Ireland-based Kingspan plans to use the acquisition to grow its production capacity and ‘complete’ its insulation product offering.
Kingspan acquires Steico from Schramek
08 January 2024Germany: Ireland-based Kingspan completed its acquisition of flexible wood fibre insulation producer Steico for Euro250m on 5 January 2024. Alliance News has reported that Kingspan issued shares to former Steico owner, Austria-based Schramek, following its completion of the deal.
Kingspan cleared to acquire 51% Steico stake
20 November 2023Germany: EU competition authorities have approved Ireland-based Kingspan’s acquisition of a 51% majority stake in wood fibre insulation producer Steico. Kingspan concluded the deal with wood products company Schramek in July 2023, and expects to complete its acquisition of the stake in early January 2024.