TABLE OF CONTENTS
SECTION PAGE
Introduction xi
I. Executive Summary 1
II. Market Environment 4
General 4
Macroeconomic Outlook 5
Demographic Trends 9
Consumer Spending Trends 12
Consumer Financing Trends 14
Building Construction Trends 18
Residential Building 21
Housing Starts 23
Housing Stock 27
Improvements & Repairs 31
Nonresidential Building 32
New Construction 33
Improvements & Repairs 35
Manufacturing Outlook 36
Pricing 39
Historical Market Trends 42
Foreign Trade 45
World Insulation Overview 47
III. Overview 49
General 49
R-Values 50
Material Variations in Thermal Resistance 51
Environmental & Regulatory Issues 53
Energy Efficiency Considerations 54
Green Building Considerations 56
Climate Change Issues 57
Indoor Air Quality Issues 59
Renewable Resources & Recycling Considerations 60
Materials-Based Considerations 63
Insulation Demand 66
IV. Products 68
General 68
Fiberglass 70
Materials 71
Product Forms 73
Markets 77
Residential Construction 78
Nonresidential Construction 79
Industrial & HVAC Equipment 80
Other Markets 81
Foamed Plastics 82
Materials 83
Product Forms 84
Markets 85
Resins 87
Rigid Urethane 87
Products 88
Markets 90
Polystyrene 92
Products 93
Markets 94
Other Foamed Plastics 97
Cellulose 99
Product Forms 101
Markets 103
Mineral Wool 104
Product Forms 107
Markets 109
Reflective Insulation & Radiant Barriers 111
Product Forms 113
Markets 114
Other Insulation Materials 116
Materials 117
Perlite 118
Vermiculite 120
All Other Materials 121
Product Forms 123
Markets 125
V. Markets 128
General 128
Demand by Market Value 129
Demand by Insulation Value 131
Residential Construction 133
Materials 134
Applications 137
New Housing 141
Attic Reinsulation 143
Residential Improvement & Repair 146
Nonresidential Construction 148
Materials 149
Applications 152
Institutional 154
Commercial 155
Office 156
Industrial 156
Other Nonresidential 156
Industrial & HVAC Equipment 157
Materials 158
Applications 159
Industrial Equipment 160
HVAC Equipment 161
Suppliers 161
Other Insulation Markets 162
Materials 162
Applications 164
Appliances 165
Transportation Equipment 166
All Other Applications 166
VI. Regions 168
General 168
Regional Demographic & Economic Activity 169
Population Patterns 170
Economic Outlook 172
Construction Activity 173
Housing Trends 175
Regional Insulation Demand 177
Northeast 180
New England 182
Middle Atlantic 183
Midwest 184
East North Central 187
West North Central 188
South 189
South Atlantic 191
East South Central 193
West South Central 194
West 195
Mountain 197
Pacific 198
VII. Industry Structure 200
General 200
Industry Composition 201
Market Share 206
Manufacturing & Product Development 210
Competitive Strategies 212
Marketing & Distribution 216
Acquisitions & Divestitures 218
Cooperative Agreements 219
Company Profiles 221
Armacell International GmbH 222
Atlas Roofing, see Hood
BayOne Urethanes Systems, see Bayer
BASF SE 224
Bayer AG 229
Berkshire Hathaway Incorporated 231
Bridgestone Corporation 237
Carlisle Companies Incorporated 239
Carpenter Company 243
CertainTeed, see Saint-Gobain
Covertech Fabricating Incorporated 245
Dow Chemical Company 247
Dryvit Systems, see RPM International
Dyplast Products LLC 252
Evonik Industries AG 254
Falcon Foam, see Hood
Fi-Foil Company Incorporated 256
Firestone Building Products, see Bridgestone
Formtech, see Tegrant
Grace (WR) & Company 258
Guardian Industries Corporation 259
Homasote Company 261
Hood Companies 263
Hunter Panels, see Carlisle
Industrial Insulation Group, see Berkshire Hathaway
Innovative Energy Incorporated 266
Innovative Insulation Incorporated 268
Insulation Solutions Incorporated 269
Insulfoam, see Carlisle
Johns Manville, see Berkshire Hathaway
Knauf Gips KG 271
Louisiana-Pacific Corporation 274
Materis Holding Luxembourg SA 276
Owens Corning 279
Pactiv Corporation 282
Parex USA, see Materis
Pittsburgh Corning, see PPG Industries
Polyair Inter Pack Incorporated 284
PPG Industries Incorporated 286
Pregis Corporation 287
Premier Building Systems, see Carlisle
Reflectix, see Sealed Air
Rmax Incorporated 289
Rockwool International A/S 290
Roxul, see Rockwool International
RPM International Incorporated 293
Saint-Gobain 295
Sealed Air Corporation 298
Sto AG 300
Tegrant Corporation 302
Thermafiber Incorporated 303
ThermoSafe Brands, see Tegrant
US GreenFiber, see Louisiana-Pacific
Walter Energy Incorporated 305
Additional Companies Mentioned in the Study 306
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- Executive Summary
Summary Table 3
SECTION II -- Market Environment
1 Macroeconomic Indicators 8
2 Population & Households 11
3 Personal Consumption Expenditures 14
4 Consumer Financing Environment, 1999-2009 18
5 Building Construction Expenditures 21
6 Residential Building Construction Expenditures 23
7 Private Housing Starts 27
8 Housing Stock by Type 30
9 Residential Improvement & Repair Expenditures 32
10 Nonresidential Building Construction Expenditures 35
11 Nonresidential Building Improvement & Repair Expenditures 36
12 Manufacturers’ Shipments 39
13 Average Insulation Prices 41
14 Insulation Market, 1999-2009 44
15 Insulation Foreign Trade 47
SECTION III -- Overview
1 Insulation R-Values by Material 53
2 Insulation Demand by Value 67
SECTION IV -- Products
1 Insulation Demand by Material 69
2 Fiberglass Insulation Demand by Product Form 77
3 Fiberglass Insulation Demand by Market 78
4 Foamed Plastic Insulation Demand by Market 86
5 Foamed Plastic Insulation Demand by Resin 87
6 Rigid Urethane Foam Insulation Demand by Product 90
7 Rigid Urethane Foam Insulation Demand by Market 92
8 Polystyrene Foam Insulation Demand by Product 94
9 Polystyrene Foam Insulation Demand by Market 97
10 Other Foamed Plastic Insulation Demand by Market 99
11 Cellulose Insulation Demand by Product Form 103
12 Cellulose Insulation Demand by Market 104
13 Mineral Wool Insulation Demand by Material 107
14 Mineral Wool Insulation Demand by Product Form 108
15 Mineral Wool Insulation Demand by Market 110
16 Reflective Insulation & Radiant Barrier Demand by Type 113
17 Reflective Insulation & Radiant Barrier Demand by Market 116
18 Other Insulation Materials Demand by Material 118
19 Other Insulation Materials Demand by Product Form 125
20 Other Insulation Materials Demand by Market 127
SECTION V -- Markets
1 Insulation Markets by Dollar Value 130
2 Insulation Markets by Insulation Value 132
3 Residential Construction Market for Insulation by Material 137
4 Residential Construction Market for Insulation by Application 140
5 New Housing Applications for Insulation by Material 143
6 Residential Attic Reinsulation Applications for Insulation
by Material 146
7 Residential Improvement & Replacement Applications
for Insulation by Material 148
8 Nonresidential Construction Market for Insulation by Material 152
9 Nonresidential Construction Market for Insulation
by Application & Type 154
10 Industrial & HVAC Equipment Markets for Insulation
by Material 159
11 Industrial & HVAC Equipment Markets for Insulation
by Application 160
12 Other Insulation Markets by Material 164
13 Other Insulation Markets by Application 165
SECTION VI -- Regions
1 Population by Region 171
2 Gross Domestic Product by Region 173
3 Construction Expenditures by Region 175
4 Regional Housing Indicators 177
5 Insulation Demand by Region 179
6 Northeast Insulation Demand by Subregion & Market 182
7 Midwest Insulation Demand by Subregion & Market 187
8 South Insulation Demand by Subregion & Market 191
9 West Insulation Demand by Subregion & Market 197
SECTION VII -- Industry Structure
1 Insulation Revenues for Selected Manufacturers, 2009 204
2 Selected Cooperative Agreements 220
LIST OF CHARTS
CHART NUMBER PAGE
SECTION II -- Market Environment
1 Year of Construction of Housing Stock, 2009 30
2 Insulation Market, 2000-2009 45
SECTION IV -- Products
1 Insulation Demand by Material, 2009 70
SECTION V -- Markets
1 Insulation Markets by Dollar Value, 2009 130
2 Insulation Markets by Insulation Value, 2009 133
SECTION VI -- Regions
1 Insulation Demand by Region, 2009 179
SECTION VII -- Industry Structure
1 Insulation Market Share by Company, 2009 207
