Insulation industry news from Global Insulation

Ireland: Kingspan reported sales of Euro6.14bn during the first nine months of 2023, down by 1.8% year-on-year. During the period, its insulation sales fell by 7%, while its insulated panels sales rose by 10%. Insulated panels recorded single-digit volumes growth across all regions during the third quarter of the year. Kingspan expects to deliver a full-year trading profit greater than in 2022.

US: Holcim Building Envelope supplied insulation and roofing systems, including its Elevate ISOGARD polyisocyanurate (PIR) insulation boards, to the 62-storey Winthrop Center tower block in Boston, Massachusetts. The Winthrop Center is the largest office building ever built on the Passive House positive energy efficiency model. Holcim Building Envelope says that its insulation and roofing systems deliver 40% better thermal performance than competing products, helping the block to achieve a 150% reduction in net energy use compared to an average Class A building in Boston.

Holcim Building Envelope commercial roofing systems & lining president Kristin Beck said "The Passive House certification of the Winthrop Center highlights the superior sustainable performance and quality of our Elevate products. This certification reinforces the effectiveness of Holcim's innovative building envelope solutions in significantly reducing energy consumption, and it also sets a standard for sustainable construction in cold climate regions."

Kazakhstan: Russia-based TechnoNICOL says that it will invest US$107m in the construction of the upcoming Almaty stone wool insulation plant, up by 82% from its previous estimate of US$59m. The producer began building the plant in August 2023. At that time, it was due to have a production capacity of 1.4Mm³/yr when operational.

Interfax has reported that TechnoNICOL’s head of mineral insulation Vasily Tkachev said "We have fairly big plans for the next three years. We see that the construction sector is growing, construction is being actively supported by the government. We feel the state's support and are moving forward, so that when there is demand there will be product. We're forced to open production earlier, forecasting growing demand."

Hungary: Masterplast reported sales worth Euro114m during the first nine months of 2023. This represents a year-on-year decline of 31% from Euro164m in the corresponding period in 2022. The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) losses were Euro2.93m, compared to a positive figure of Euro19.3m. During the third quarter of 2023, sales declined in Hungary by 45% and across its export markets by 26%. They rose by 21% in Poland, by 8% in Croatia and by 2% in Ukraine.

Masterplast attributed its sales decline to low demand due to global inflation and rising interest rates amid on-going lockdowns, energy crises and war in Ukraine, while energy-saving renovation initiatives have also been subject to delays. The company set a savings target of Euro2m/yr and laid off 250 employees, including 210 from its plants in Serbia. It completed the construction of new expanded polystyrene (EPS) and extruded polystyrene (XPS) capacity in Italy and Serbia, which it expects to bring online later in 2023.

New Zealand: Ireland-based Kingspan has applied for clearance to acquire polyisocyanurate (PIR) insulation producer Conqueror. Conqueror operates the Christchurch insulation plant in Canterbury. Kingspan already supplies PIR foam core material to the plant. After the planned acquisition, Conqueror will retain its wholesale insulation distribution business.