Study #: 3754 | Published: 11/2019 | Pages: 182 | Individual User License: US$ 5,700

Competition among Insulation Materials to Intensify

Insulation demand in the US is expected to increase 4.3% annually through 2023 to $12.1 billion. Fiberglass will continue to account for the largest share of insulation demand by volume because of its high R-values, relative ease of installation, and low cost relative to foamed plastic insulation. However, fiberglass’s insulation market share is expected to slightly drop through 2023 due to increased competition from foamed plastic materials as more home and building owners opt for high quality, high R-value insulation, especially in the parts of the US that experience extreme temperatures. Additionally, mineral wool is expected to increase its insulation market share in response to strengthened fire safety codes, as mineral wool is better able to meet these regulations than most competing insulation materials.

Sustainability Concerns Drive Use of Eco-Friendly Insulation Products

Consumer desires to reduce energy consumption is leading to increased interest in environmentally friendly building practices such as those promoted by the Leadership in Energy and Environmental Design (LEED) program. As a result, building owners and contractors are installing more and better performing insulation products to reduce heat transfer. Insulation materials that stand to benefit from this include SPF, which is made from renewable, nontoxic materials.

Building Construction Spending to Drive Insulation Demand Gains

Through 2023, the majority of insulation demand gains will come from the residential and commercial building construction markets. In the residential segment, demand will be supported by rising home starts and homeowner desires to use more insulation in attics and crawlspaces. In the commercial segment, rising construction spending and the increasing specification of high-quality insulation products in commercial buildings will drive demand growth. Homeowners will be driven by interest in improving energy efficiency, while commercial building owners will be more focused on meeting codes at a minimum cost.

This study presents historical demand (2008, 2013, 2018) and forecasts for 2023 and 2028 by material (fiberglass, foamed plastics, cellulose, mineral wool, reflective and radiant, and other materials) in current dollars, pounds, square feet, and R-1, and market (residential buildings, commercial buildings, industrial and plant equipment, HVAC/air distribution, appliances, transportation equipment, and other markets) and region (Northeast, Midwest, South, West) in current dollars and R-1.


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Table of Contents

1. Executive Summary

2. Overview

Key Findings

Historical Market Trends

Pricing

Demand by Type

Thermal vs. Acoustic

Acoustic Insulation Demand by Material

Foreign Trade

Environmental & Other Regulatory Issues

Building Codes & Other Regulations

R-Values & Energy Efficiency

Indoor Air Quality & Health & Safety Issues

Blowing Agents

Recycling

3. Materials

Key Findings

Insulation Demand by Material

Market Volume

Market Value

Fiberglass

Fiberglass: Demand by Market

Fiberglass: Demand by Product Form

Fiberglass: Suppliers & Market Share

Foamed Plastic

Foamed Plastic: Demand by Market

Foamed Plastic: Demand by Plastic Resin

Rigid Polyurethane/Polyisocyanurate (PUR/PIR) Board

Spray Polyurethane Foam (SPF)

Extruded Polystyrene (XPS)

Expanded Polystyrene (EPS)

Other Foamed Plastics

Foamed Plastic: Suppliers & Market Share

Cellulose

Cellulose: Demand by Market

Cellulose: Demand by Product Form

Cellulose: Suppliers & Market Share

Mineral Wool

Mineral Wool: Demand by Market

Mineral Wool: Demand by Product Form & Material

Mineral Wool: Suppliers & Market Share

Reflective Insulation & Radiant Barriers

Reflective Insulation & Radiant Barriers: Demand by Market

Reflective Insulation & Radiant Barriers: Suppliers & Market Share

Other Insulation Materials

Other Insulation Materials: Demand by Market

Other Insulation Materials: Demand by Material & Product Form

4. Markets

Key Findings

Insulation Demand by Market

Market Value

Market Volume

Residential Buildings

Residential Buildings: Volume Demand by Material

Residential Buildings: Value Demand by Material & Type

Residential Buildings: Demand by Housing Type

Residential Buildings: Demand by Project Type (New vs. Retrofit)

New Residential Insulation Demand

Residential Retrofit Insulation Demand

Residential Buildings: Material Cost Comparison

Commercial Buildings

Commercial Buildings: Volume Demand by Material

Commercial Buildings: Value Demand by Material & Type

Commercial Buildings: Demand by Building Type

Commercial Buildings: Demand by Project Type (New vs. Retrofit)

Commercial Buildings: Material Cost Comparison

Industrial & Plant Equipment

HVAC/Air Distribution

Appliances

Transportation Equipment

Other Insulation Markets

5. Regions

Key Findings

Demand by Region

Northeast

Northeast: Demand by Subregion & Market

New England

Middle Atlantic

Midwest

Midwest: Demand by Subregion & Market

East North Central

West North Central

South

South: Demand by Subregion & Market

South Atlantic

East South Central

West South Central

West

West: Demand by Subregion & Market

Mountain

Pacific

6. Industry Structure

Key Findings & Industry Composition

Market Share

New Product Development

Competitive Strategies

Marketing

Distribution

Cooperative Agreements

Mergers & Acquisitions

List of Industry Participants

7. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Building Construction

Residential Building Construction

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs

Housing Starts

Housing Stock

Commercial Building Stock

Consumer Financing


List of Tables

2. Overview

Table 2-1 | US Insulation Market, 2008 - 2018

Table 2-2 | Average Insulation Prices by Material, 2008 - 2028 (dollars per pound & dollars per thousand square feet R-1)

Table 2-3 | Insulation Demand by Type, 2008 - 2028 (million pounds & million dollars)

Table 2-4 | Acoustic Insulation Demand by Material, 2008 - 2028 (million pounds & million dollars)

Table 2-5 | Insulation Foreign Trade, 2008 - 2028 (million dollars)

Table 2-6 | US Insulation Market: Environmental & Regulatory Issues

Table 2-7 | Insulation R-Values by Material

3. Materials

Table 3-1 | Insulation Demand by Material, 2008 - 2028 (million pounds, billion square feet R-1, & million square feet)

Table 3-2 | Insulation Demand by Material, 2008 - 2028 (million dollars)

Table 3-3 | Fiberglass Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-4 | Fiberglass Insulation Demand by Product Form, 2008 - 2028 (million pounds)

Table 3-5 | Foamed Plastic Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-6 | Foamed Plastic Insulation Demand by Resin, 2008 - 2028 (million pounds)

Table 3-7 | Rigid PUR/PIR Board Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-8 | SPF Insulation Demand by Market & Type, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-9 | XPS Foam Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-10 | EPS Foam Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-11 | Other Foamed Plastic Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-12 | Cellulose Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-13 | Cellulose Insulation Demand by Product Form, 2008 - 2028 (million pounds)

Table 3-14 | Mineral Wool Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-15 | Mineral Wool Insulation Demand by Product Form & Material, 2008 - 2028 (million pounds)

Table 3-16 | Reflective Insulation & Radiant Barrier Demand by Market, 2008 - 2028 (million pounds, million dollars, billion square feet R-1, & million square feet)

Table 3-17 | Other Insulation Demand by Market, 2008 - 2028 (million dollars, million pounds, billion square feet R-1, & million square feet)

Table 3-18 | Other Insulation Demand by Material & Product Form, 2008 - 2028 (million pounds)

4. Markets

Table 4-1 | Insulation Demand by Market, 2008 - 2028 (million dollars)

Table 4-2 | Insulation Demand by Market, 2008 - 2028 (billion square feet R-1)

Table 4-3 | Residential Building Insulation Demand by Material, 2008 - 2028 (billion square feet R-1 & million square feet)

Table 4-4 | Residential Building Insulation Demand by Material & Type, 2008 - 2028 (million dollars)

Table 4-5 | Residential Building Insulation Demand by Housing Type, 2008 - 2028 (billion square feet R-1 & million dollars)

Table 4-6 | Residential Buildings Demand by Project Type, 2008 - 2028 (billion square feet R-1 & million dollars)

Table 4-7 | New Residential Building Insulation Demand by Material, 2008 - 2028 (billion square feet R-1)

Table 4-8 | Residential Retrofit Insulation Demand by Material, 2008 - 2028 (billion square feet R-1)

Table 4-9 | Commercial Building Insulation Demand by Material, 2008 - 2028 (billion square feet R-1 & million pounds)

Table 4-10 | Commercial Building Insulation Demand by Material & Type, 2008 - 2028 (million dollars)

Table 4-11 | Commercial Building Insulation Demand by Building Type, 2008 - 2028 (billion square feet R-1 & million dollars)

Table 4-12 | Commercial Building Insulation Demand by Project Type, 2008 - 2028 (billion square feet R-1 & million dollars)

Table 4-13 | Industrial & Plant Equipment Insulation Demand by Material & Type, 2008 - 2028 (million dollars & billion square feet R-1)

Table 4-14 | HVAC/Air Distribution Insulation Demand by Material & Type, 2008 - 2028 (million dollars & billion square feet R-1)

Table 4-15 | Appliance Insulation Demand by Material & Type, 2008 - 2028 (million dollars & billion square feet R-1)

Table 4-16 | Transportation Equipment Insulation Demand by Material & Type, 2008 - 2028 (million dollars & billion square feet R-1)

Table 4-17 | Other Insulation Markets; Demand by Material & Type, 2008 - 2028 (million dollars & billion square feet R-1)

5. Regions

Table 5-1 | Insulation Demand by Region, 2008 - 2028 (million dollars)

Table 5-2 | Northeast Insulation Demand by Subregion & Market, 2008 - 2028 (million dollars & billion square feet R-1)

Table 5-3 | Midwest Insulation Demand by Subregion & Market, 2008 - 2028 (million dollars & billion square feet R-1)

Table 5-4 | South Insulation Demand by Subregion & Market, 2008 - 2028 (million dollars & billion square feet R-1)

Table 5-5 | West Insulation Demand by Subregion & Market, 2008 - 2028 (million dollars & billion square feet R-1)

6. Industry Structure

Table 6-1 | US Insulation Product Sales for Selected Companies, 2018 (million dollars)

Table 6-2 | Selected Cooperative Agreements

Table 6-3 | Selected Mergers & Acquisitions

Table 6-4 | Selected Industry Participants

7. Appendix

Table 7-1 | Study Scope: US Geographic Regions & Subregions

Table 7-2 | Relevant Industry Codes

Table 7-3 | Relevant HS Codes

Table 7-4 | Abbreviations & Acronyms Used in Study

Table 7-5 | Macroeconomic Indicators, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 7-6 | Population & Households, 2008 - 2028 (million persons)

Table 7-7 | Building Construction Expenditures, 2008 - 2028 (billion dollars)

Table 7-8 | Residential Building Construction Expenditures, 2008 - 2028 (billion dollars)

Table 7-9 | Residential Improvement & Repair Expenditures, 2008 - 2028 (billion dollars)

Table 7-10 | Commercial Building Construction Expenditures, 2008 - 2028 (billion dollars)

Table 7-11 | Commercial Building Improvement & Repair Expenditures, 2008 - 2028 (billion dollars)

Table 7-12 | Housing Starts, 2008 - 2028 (thousand units)

Table 7-13 | Housing Stock by Type, 2008 - 2028 (million units)

Table 7-14 | Commercial Building Stock Value by Type 2008 - 2028 (billion 2012 dollars)

Table 7-15 | Consumer Financing Environment, 2008 - 2018


List of Figures

1. Executive Summary

Figure 1-1 | Key Trends in the US Insulation Market

2. Overview

Figure 2-1 | US Insulation Market Overview

Figure 2-2 | US Insulation Demand, 2008 - 2018 (billion square feet R-1)

3. Materials

Figure 3-1 | Insulation Materials: Key Trends

Figure 3-2 | Insulation Demand Share by Material, 2018 (million pounds & billion square feet R-1)

Figure 3-3 | Insulation Demand Share by Material, 2008 - 2028 (billion dollars)

Figure 3-4 | Fiberglass Share of Insulation Market, 2018 (million pounds & billion dollars)

Figure 3-5 | US Fiberglass Insulation Market Share by Company, 2018 (billion dollars)

Figure 3-6 | Leading US Fiberglass Insulation Supplier

Figure 3-7 | Second Leading US Fiberglass Insulation Supplier

Figure 3-8 | Third Leading US Fiberglass Insulation Supplier

Figure 3-9 | Fourth Leading US Fiberglass Insulation Supplier

Figure 3-10 | Foamed Plastic Share of Insulation Market, 2018 (million pounds & billion dollars)

Figure 3-11 | Foamed Plastic Insulation Demand Share by Resin, 2018 (billion pounds)

Figure 3-12 | US Foamed Plastic Insulation Market Share by Company, 2018 (billion dollars)

Figure 3-13 | Leading US Foamed Plastic Insulation Supplier

Figure 3-14 | Second Leading US Foamed Plastic Insulation Supplier

Figure 3-15 | Third Leading US Foamed Plastic Insulation Supplier

Figure 3-16 | Fourth Leading US Foamed Plastic Insulation Supplier

Figure 3-17 | Fifth Leading US Foamed Plastic Insulation Supplier

Figure 3-18 | Cellulose Share of Insulation Market, 2018 (million pounds & billion dollars)

Figure 3-19 | US Cellulose Insulation Market Share by Company, 2018 (million dollars)

Figure 3-20 | Mineral Wool Share of Insulation Market, 2018 (million pounds & billion dollars)

Figure 3-21 | US Mineral Wool Insulation Market Share by Company, 2018 (million dollars)

Figure 3-22 | US Reflective Insulation & Radiant Barrier Market Share by Company, 2018 (million dollars)

4. Markets

Figure 4-1 | US Insulation Markets

Figure 4-2 | Insulation Demand Share by Market, 2018 (billion dollars)

Figure 4-3 | Insulation Demand Share by Market, 2018 (billion square feet R-1)

Figure 4-4 | Residential Building Insulation Volume Demand vs. New Residential Floor Space, 2008 - 2023 (million square feet)

Figure 4-5 | Residential Building Insulation Demand vs. Residential Building Construction, 2008 - 2023 (million dollars)

Figure 4-6 | New Residential Building Insulation Demand vs. Conventional Housing Starts, 2008 - 2023

Figure 4-7 | Residential Building Insulation Material Cost Comparison, 2018 (dollars per thousand square feet R-1)

Figure 4-8 | Commercial Building Insulation Demand vs. Nonresidential Building Construction Expenditures, 2008 - 2023 (million dollars)

Figure 4-9 | Commercial Building Insulation Material Cost Comparison, 2018 (dollars per square feet R-1)

5. Regions

Figure 5-1 | Regional Insulation Demand Trends

6. Industry Structure

Figure 6-1 | US Insulation Market Share by Company, 2018 (billion dollars)

Figure 6-2 | Leading US Insulation Supplier

Figure 6-3 | Second Leading US Insulation Supplier

Figure 6-4 | Third Leading US Insulation Supplier

Figure 6-5 | Fourth Leading US Insulation Supplier

Figure 6-6 | Fifth Leading US Insulation Supplier

7. Appendix

Figure 7-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 7-2 | Annual Population Growth, 2003 - 2018 (percent)

Figure 7-3 | Housing Stock by Year of Construction, 2018 (percent)


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