Demand for fiberglass insulation is forecast to advance 2.9% per annum to 4.6 billion pounds in 2021, valued at $4.4 billion. Fiberglass is projected to remain the most widely used insulation material due to favorable characteristics such as installation and handling advantages over other insulation materials; high R-values; and superior resistance to mold, moisture, and insect damage. These and other trends are presented in Insulation Market in the US, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Residential buildings are projected to be the fastest growing market and maintain the largest share of demand through 2021. Demand in the residential market will continue to benefit from the efforts of homeowners to increase energy efficiency because fiberglass insulation products offer a low-cost, high R-value solution for attic reinsulation and improvement projects.
US demand for all types of insulation (excluding reflective insulation and radiant barriers) is forecast to rise 2.9% per year to 9.4 billion pounds in 2021, equal to 320 billion square feet of R-1 value. According to analyst Matt Hurley, “Fiberglass and foamed plastics together account for the bulk of demand (75% in volume terms), supported by advantages such as low cost, good performance qualities, and ease of installation”.
Insulation Market in the US, 12th Edition (published 12/2017, 177 pages) is available for $5600 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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