TABLE OF CONTENTS
SECTION PAGE
LIST OF TABLES
TABLE NUMBER PAGE
INTRODUCTION XI
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 5
Demographic Outlook 9
Consumer Trends 13
Personal Income & Expenditures 13
Consumer Financing 16
Building Construction 19
Residential Buildings 22
Housing Starts 25
Housing Stock 28
Improvements & Repairs 32
Nonresidential Buildings 34
New 34
Improvements & Repairs 37
Manufacturing Outlook 38
Pricing 42
Historical Market Overview 46
Foreign Trade 50
World Insulation Overview 52
III. OVERVIEW 54
General 54
R-Values 55
Material Variations in Thermal Resistance 56
Environmental & Regulatory Issues 58
Energy Efficiency Considerations 59
Green Building Considerations 61
Climate Change Issues 63
Indoor Air Quality Issues 65
Renewable Resources & Recycling Considerations 66
Materials-Based Considerations 69
Insulation Demand 72
IV. PRODUCTS 74
General 74
Fiberglass 77
Materials 78
Product Forms 80
Markets 84
Residential Buildings 85
Nonresidential Buildings 86
Industrial & HVAC Equipment 88
Other Markets 89
Foamed Plastics 89
Product Forms 90
Markets 93
Resins 95
Rigid Urethane 96
Products 97
Markets 99
Polystyrene 101
Products 102
Markets 103
Other Foamed Plastics 106
Cellulose 107
Product Forms 109
Markets 111
Mineral Wool 112
Product Forms 115
Markets 117
Reflective Insulation & Radiant Barriers 119
Product Forms 122
Markets 123
Other Insulation 125
Materials 126
Perlite 127
Vermiculite 129
All Other Materials 130
Product Forms 132
Markets 134
V. MARKETS 137
General 137
Demand by Market Value 138
Demand by R-1 Value 140
Residential Buildings 142
Materials 143
Dollars/R-Value Comparison 146
Applications 149
New Housing 152
Attic Reinsulation 155
Improvement & Replacement 157
Nonresidential Buildings 160
Materials 161
Dollars/R-Value Comparison 164
Applications 166
Institutional 168
Commercial 169
Office 170
Industrial 170
Other Nonresidential 170
Nonbuilding Construction 171
Industrial & HVAC Equipment 171
Materials 172
Dollar/R-Value Comparison 174
Applications 176
Industrial Equipment 177
HVAC Equipment 178
Suppliers 178
Other Insulation Markets 179
Materials 179
Applications 181
VI. REGIONS 184
General 184
Regional Demographic & Economic Activity 185
Population Patterns 186
Economic Outlook 188
Construction Activity 191
Housing Trends 193
Regional Insulation Demand 196
Northeast 198
New England 201
Middle Atlantic 202
Midwest 203
East North Central 206
West North Central 207
South 208
South Atlantic 211
East South Central 213
West South Central 214
West 215
Mountain 218
Pacific 220
VII. INDUSTRY STRUCTURE 222
General 222
Industry Composition 223
Market Share 227
Manufacturing & Product Development 232
Competitive Strategies 235
Marketing & Distribution 238
Acquisitions & Divestitures 241
Cooperative Agreements 242
Company Profiles 244
Armacell International Holding GmbH 245
Atlas Roofing, see Hood Companies
BASF SE 247
Bayer AG 251
Berkshire Hathaway Incorporated 253
Bridgestone Corporation 258
Carlisle Companies Incorporated 260
Carpenter Company 264
CertainTeed, see Saint-Gobain
Covertech Fabricating Incorporated 265
Dow Chemical Company 268
Dryvit Systems, see RPM International
Dyplast Products LLC 273
Evonik Industries AG 275
Fi-Foil Company Incorporated 277
Firestone Building Products, see Bridgestone
Grace (WR) & Company 279
Guardian Industries Corporation 280
Homasote Company 282
Hood Companies 284
Hunter Panels, see Carlisle Companies
Industrial Insulation Group, see Berkshire Hathaway
Innovative Energy Incorporated 286
Innovative Insulation Incorporated 288
Insulation Solutions Incorporated 289
Insulfoam, see Carlisle Companies
Johns Manville, see Berkshire Hathaway
Knauf Gips KG 291
Louisiana-Pacific Corporation 294
Materis Holding Luxembourg SA 296
Owens Corning 298
Pactiv, see Reynolds Group Holdings
Parex USA, see Materis Holding Luxembourg
Pittsburgh Corning, see PPG Industries
Polyair Inter Pack Incorporated 303
PPG Industries Incorporated 304
Pregis Corporation 306
Premier Building Systems, see Carlisle Companies
Reflectix, see Sealed Air
Reynolds Group Holdings Limited 308
Rmax Incorporated 310
Rockwool International A/S 312
Roxul, see Rockwool International A/S
RPM International Incorporated 316
Saint-Gobain 317
Sealed Air Corporation 321
Sonoco Products Company 323
Sto AG 324
Tegrant, see Sonoco Products
Thermafiber Incorporated 326
ThermoSafe Brands, see Sonoco Products
US GreenFiber, see Louisiana-Pacific
Additional Companies Mentioned in Study 328
LIST OF CHARTS
CHART NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 8
2 Population & Households 12
3 Personal Consumption Expenditures 15
4 Consumer Financing Environment, 2001-2011 19
5 Building Construction Expenditures 22
6 Residential Building Construction Expenditures 24
7 Housing Starts 28
8 Housing Stock by Type 31
9 Residential Improvement & Repair Expenditures 34
10 Nonresidential Building Construction Expenditures 37
11 Nonresidential Building Improvement & Repair Expenditures 38
12 Manufacturers’ Shipments 42
13 Average Insulation Prices 46
14 Insulation Market, 2001-2011 49
15 Insulation Foreign Trade 52
SECTION III -- OVERVIEW
1 Insulation R-Values by Material 58
2 Insulation Demand by Value 73
SECTION IV -- PRODUCTS
1 Insulation Demand by Material 76
2 Fiberglass Insulation Demand by Product Form 84
3 Fiberglass Insulation Demand by Market 85
4 Foamed Plastic Insulation Demand by Market 95
5 Foamed Plastic Insulation Demand by Resin 96
6 Rigid Urethane Foam Insulation Demand by Product 99
7 Rigid Urethane Foam Insulation Demand by Market 101
8 Polystyrene Foam Insulation Demand by Product 103
9 Polystyrene Foam Insulation Demand by Market 105
10 Other Foamed Plastic Insulation Demand by Market 107
11 Cellulose Insulation Demand by Product Form 111
12 Cellulose Insulation Demand by Market 112
13 Mineral Wool Insulation Demand by Material 115
14 Mineral Wool Insulation Demand by Product Form 117
15 Mineral Wool Insulation Demand by Market 119
16 Reflective Insulation & Radiant Barrier Demand by Type 122
17 Reflective Insulation & Radiant Barrier Demand by Market 125
18 Other Insulation Materials Demand by Material 127
19 Other Insulation Materials Demand by Product Form 134
20 Other Insulation Materials Demand by Market 136
SECTION V -- MARKETS
1 Insulation Markets by dollar Value 139
2 Insulation Markets by R-1 Value 141
3 Residential Market Insulation Demand by Material 146
4 Residential Buildings Market for Insulation by Application 152
5 New Housing Insulation Demand by Material 154
6 Residential Attic Reinsulation Demand by Material 157
7 Residential Improvement & Replacement Applications for
Insulation by Material 159
8 Nonresidential Buildings Insulation Demand by Material 163
9 Nonresidential Buildings Insulation Demand
by Application & Type 168
10 Industrial & HVAC Equipment Market
for Insulation by Material 174
11 Industrial & HVAC Insulation Markets by Application 177
12 Other Insulation Markets Demand by Material 181
13 Other Insulation Markets Demand by Application 183
SECTION VI -- REGIONS
1 Population by Region 188
2 Gross Domestic Product by Region 191
3 Construction Expenditures by Region 193
4 Regional Housing Indicators 196
5 Insulation Demand by Region 197
6 Northeast Insulation Demand by Subregion & Market 201
7 Midwest Insulation Demand by Subregion & Market 206
8 South Insulation Demand by Subregion & Market 211
9 West Insulation Demand by Subregion & Market 218
SECTION VII -- INDUSTRY STRUCTURE
1 Insulation Revenues for Selected Manufacturers, 2011 226
2 Selected Cooperative Agreements 243
SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2011 32
2 Insulation Market, 2002-2011 50
SECTION IV -- PRODUCTS
1 Insulation Demand by Material, 2011 77
SECTION V -- MARKETS
1 Insulation Markets by Dollar Value, 2011 139
2 Insulation Markets by R-1 Value, 2011 142
3 Cost/R-Value Comparison
of Residential Insulation Materials, 2011 149
4 Cost/R-Value Comparison
of Nonresidential Insulation Materials, 2011 166
5 Cost/R-Value Comparison
of Industrial & HVAC Insulation Materials, 2011 176
SECTION VI -- REGIONS
1 Insulation Demand by Region, 2011 198
SECTION VII -- INDUSTRY STRUCTURE
1 Insulation Market Share by Company, 2011 229
