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Increasingly Stringent Building Codes and Single-Family Housing Construction Activity to Fuel Demand Growth
Gains will be driven by healthy growth in single-family housing starts and the installation of a greater amount of insulation in new housing structures as more areas of the US begin to comply with stricter International Energy Conservation Code (IECC) mandates.
Key Findings in the Residential Insulation Study:
Fiberglass and Foamed Plastic Insulation to Maintain Leading Positions in the Residential Market
Fiberglass will remain by far the most widely used insulation material in residential buildings. Construction professionals and DIYers will continue to favor the material because of its low cost, good insulative properties, and ease of installation.
Demand for foamed plastic is expected to rise at a strong pace through 2022, due in part to more stringent building codes calling for improved insulation in homes – a major focus of the IECC. Despite its higher cost, homeowners will increasingly specify foamed plastic insulation for its ability to seal between walls and in hard-to-reach areas such as crawl spaces.
Single-Family Housing Continues to Drive Demand
In 2017, single-family housing accounted for the vast majority of residential insulation market value, and it will account for most of the demand gains through 2022. Going forward, demand for insulation in single-family residences will be driven by healthy advances in single-family housing starts, greater adoption of more stringent IECC building codes, a favorable lending environment, growth in the number of houses with two or more stories, and rising consumer interest in making single-family homes more energy efficient.
This industry study presents historical demand data (2007, 2012, and 2017) and forecasts for 2022 by material (fiberglass, foamed plastic, cellulose, mineral wool, and other materials), by project type (new and retrofit), by housing type (single-family, multifamily, and manufactured housing), by area of building (attic and roof, exterior wall, and other), by region (Northeast, Midwest, South, and West), and by subregion. Data are presented in current dollars (which are not adjusted to account for inflation), and in volume terms by the following measures: pounds, square feet R-1 value, and square feet. In pounds and square feet R-1 measures, reflective insulation and radiant barriers are excluded. The study also evaluates company market share and provides analysis on industry competitors including American Rockwool, Applegate Insulation, Atlas Roofing, BASF, Carlisle, CertainTeed, Covestro, DowDuPont, Fiberlite Technologies, Huntsman, Johns Manville, Kingspan, Knauf Insulation, Nu-Wool, Owens Corning, ROCKWOOL, Sealed Air, and US Greenfiber.
Advances in single-family housing starts will be instrumental in growth for residential insulation. Demand for all housing types will benefit from increasingly stringent building codes, focusing on energy efficiency, green building, and fire safety; government incentives to increase energy efficiency in housing units, which typically includes the addition of more insulation, as well as several weatherization assistance programs available in many states; and increases in private residential improvement and maintenance expenditures. This new study discusses how these factors will impact sales of insulation to the residential market going forward.
Materials covered in this study include:
- Foamed Plastic
- Mineral Wool
- Other materials (e.g., reflective insulation, radiant barriers, perlite, vermiculite, and all other)
Additionally, demand is broken out by project type (new and retrofit), housing type (single-family, multifamily, and manufactured housing), area of building (attic and roof, exterior wall, and other), region (Northeast, Midwest, South, and West), and subregion.
Scope of the Report
This report analyzes the size and growth of the US residential insulation market, including key trends in applications and market segmentation. Historical data are provided for 2007, 2012, and 2017 with forecasts for 2022, with year by year historical market volatility also addressed. Data are given in dollars, pounds, square feet, and square feet of R-1 value. Also included is an analysis of the industry key players and their market shares.