Insulation industry news from Global Insulation

UK: Knauf Insulation has concluded a deal to acquire the Pilkington Architectural site next to its glass wool plant in St Helens. The purchase of the seven hectare area is part of a combined Euro46m production capacity expansion project at both the St Helens and Cwmbran plants that was previously announced in April 2022. At the St Helens plant the company plans to use the additional space storage space and better logistics arraignments.

US: Owens Corning recorded sales of US$7.48bn during the first nine months of 2022, up by 17% year-on-year from US$6.37bn in the first nine months of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 24% to US$1.8bn from US$1.45bn. The group's insulation sales rose by 19% to US$2.76bn from US$2.32bn. The segment's higher selling prices reportedly offset accelerating energy, material and transport inflation.

During the year, the company transferred or sold all Russian assets, which had previously contributed US$100m in sales in 2021. Elsewhere, Owens Corning launched three new products during the third quarter of 2022 alone.

Austria: Austrotherm plans to raise the prices of its extruded polystyrene (EPS) insulation and expanded polystyrene (XPS) insulation products in response to “very strong” increases in raw materials, energy and transport costs. The latest round of price increase will take effect in early April 2022. The producer added that it could not rule out re-introducing monthly quantity quotas if order intake remained high.

US: Revenue from Huntsman’s Polyurethane division rose by 35% year-on-year to US$1.39bn in 2021 from US$1.03bn in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 8% to US$218m from US$201m. The group said that price increases offset higher raw material and logistic costs. Overall group revenue and adjusted EBITDA increased by 40% to US$8.45bn and 107% to US$1.34bn respectively.

"We concluded 2021 with the best year in our history with our current portfolio of businesses. The transformation of our portfolio has enabled our company to generate not only our highest ever adjusted EBITDA margins but consistent profit margins quarter on quarter throughout 2021, a hallmark of a more differentiated chemical business,” said chairman, president and chief executive officer Peter R Huntsman.

Huntsman produces a range of chemicals including polyisocyanurate (PIR) and polyurethane (PUR) building insulation products.