U.S. insulation demand to reach $9.8 billion by 2010: report
Spurred by renewed growth in nonresidential building construction, the demand for insulation materials in the Unite...
May 15, 2006 by Canadian Plastics
Spurred by renewed growth in nonresidential building construction, the demand for insulation materials in the United States is forecast to advance nearly 5 per cent per annum through 2010 to $9.8 billion, according to a study released by Cleveland, Ohio-based industry research firm The Freedonia Group, Inc.
Fibreglass insulation remains the leading insulation material in use today, accounting for more than half of demand in dollar and volume terms in 2005, the “Insulation” study reported, while foamed plastic insulation is the second largest insulation product in use in the US, accounting for nearly 45 per cent of demand in value terms and almost 30 per cent in volume terms.
The growth of fibreglass in the next few years will be driven by more intensive use of fibreglass insulation per new housing unit, sparked by expanded concerns about energy efficiency, ease of installation and favorable cost factors.
A projected weakening in the housing market through 2010, however, will moderate gains in the fibreglass segment because fibreglass accounts for the vast majority of insulation used in residential applications, according to the report.
And in foamed plastic insulation, the advances will come from a combination of accelerating nonresidential building construction and production of appliances and transportation equipment.
The “Insulation” study can be purchased from The Freedonia Group’s website.