US Insulation Market

NEW YORK, March 28, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

US Insulation Market

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US demand to grow 7.8% annually through 2016

US demand for insulation is forecast to rise 7.8 percent annually to $8.9 billion in 2016. Advances will be stimulated by a rebound in building construction expenditures from a depressed 2011 base. Further growth will be fueled by changes in building codes and continuing consumer interest in reducing energy consumption and utility bills. Homeowners and building owners will add or upgrade insulation to achieve these goals.

Residential market to post double-digit advances

The residential market will post the most rapid gains through 2016, advancing at a double-digit pace as housing starts rebound. Moreover, builders will construct homes with larger amounts of insulation to make them more desirable to potential buyers. Residential insulation demand will also be supported by the attic reinsulation and improvement and repair markets. The nation's large stock of older homes -- many of which are underinsulated -- will offer growth prospects as homeowners add insulation to attics, walls and basements to lower utility bills. Insulation demand in the nonresidential market will also see advances. Rebounding nonresidential building construction expenditures, particularly in the office and commercial segment, will promote gains. Continuing interest in environmentally friendly construction practices will boost insulation use, as building codes and "green" building standards will call for the use of more insulation to reduce energy consumption. Industrial insulation demand will be supported by rising industrial construction spending.

Fiberglass insulation to remain dominant material

Fiberglass insulation accounted for the largest share of insulation demand in 2011 with about half of the US market. Fiberglass insulation will remain the market leader in 2016, with demand rising 8.1 percent annually to $4.4 billion. Growth will be spurred by the rebound in the residential market. Fiberglass insulation remains a popular choice with builders and contractors because of its low cost, favorable insulative properties and ready availability. Demand for foamed plastic insulation, which accounted for the second largest share of the market in 2011, is expected to rise 7.3 percent per year to $3.9 billion in 2016. Advances will be driven by the rebound in building construction spending. Further growth will come from building code changes that call for structures to be better sealed against air leaks. Foamed plastics are well suited for sealing hard-to-reach areas, such as crawl spaces and between walls. While small in value terms, cellulose insulation is forecast to see the most rapid demand growth through 2016, rising over 15 percent yearly. A rebound in new housing spending -- the primary market for cellulose insulation -- will drive gains. Demand will also be boosted by consumer interest in this product type because of its perception as an environmentally friendly building material. Demand for radiant barrier and reflective insulation is forecast to rise 8.7 percent per year through 2016. The rebounding housing market will boost demand, with further gains supported by increases in industrial and nonresidential building construction spending. Growth will be concentrated in the South and West regions, as structures in those regions are more often exposed to sunlight, and thus best benefit from the use of radiant barriers and reflective insulation.

Study coverage

This upcoming industry study presents historical demand data (2001, 2006 and 2011) plus forecasts for 2016 and 2021 by product, market, and region of the US. The study also considers market environment factors, evaluates company market share and profiles 35 industry players.

TABLE OF CONTENTS

INTRODUCTION xi

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4

Macroeconomic Environment 5

Demographic Outlook 9

Consumer Trends 13

Personal Income & Expenditures 13

Consumer Financing 16

Building Construction 19

Residential Buildings 22

Housing Starts 25

Housing Stock 28

Improvements & Repairs 32

Nonresidential Buildings 34

New 34

Improvements & Repairs 37

Manufacturing Outlook 38

Pricing 42

Historical Market Overview 46

Foreign Trade 50

World Insulation Overview 52

III. OVERVIEW 54

General 54

R-Values 55

Material Variations in Thermal Resistance 56

Environmental & Regulatory Issues 58

Energy Efficiency Considerations 59

Green Building Considerations 61

Climate Change Issues 63

Indoor Air Quality Issues 65

Renewable Resources & Recycling Considerations 66

Materials-Based Considerations 69

Insulation Demand 72

IV. PRODUCTS 74

General 74

Fiberglass 77

Materials 78

Product Forms 80

Markets 84

Residential Buildings 85

Nonresidential Buildings 86

Industrial & HVAC Equipment 88

Other Markets 89

Foamed Plastics 89

Product Forms 90

Markets 93

Resins 95

Rigid Urethane 96

Products 97

Markets 99

Polystyrene 101

Products 102

Markets 103

Other Foamed Plastics 106

Cellulose 107

Product Forms 109

Markets 111

Mineral Wool 112

Product Forms 115

Markets 117

Reflective Insulation & Radiant Barriers 119

Product Forms 122

Markets 123

Other Insulation 125

Materials 126

Perlite 127

Vermiculite 129

All Other Materials 130

Product Forms 132

Markets 134

V. MARKETS 137

General 137

Demand by Market Value 138

Demand by R-1 Value 140

Residential Buildings 142

Materials 143

Dollars/R-Value Comparison 146

Applications 149

New Housing 152

Attic Reinsulation 155

Improvement & Replacement 157

Nonresidential Buildings 160

Materials 161

Dollars/R-Value Comparison 164

Applications 166

Institutional 168

Commercial 169

Office 170

Industrial 170

Other Nonresidential 170

Nonbuilding Construction 171

Industrial & HVAC Equipment 171

Materials 172

Dollar/R-Value Comparison 174

Applications 176

Industrial Equipment 177

HVAC Equipment 178

Suppliers 178

Other Insulation Markets 179

Materials 179

Applications 181

VI. REGIONS 184

General 184

Regional Demographic & Economic Activity 185

Population Patterns 186

Economic Outlook 188

Construction Activity 191

Housing Trends 193

Regional Insulation Demand 196

Northeast 198

New England 201

Middle Atlantic 202

Midwest 203

East North Central 206

West North Central 207

South 208

South Atlantic 211

East South Central 213

West South Central 214

West 215

Mountain 218

Pacific 220

VII. INDUSTRY STRUCTURE 222

General 222

Industry Composition 223

Market Share 227

Manufacturing & Product Development 232

Competitive Strategies 235

Marketing & Distribution 238

Acquisitions & Divestitures 241

Cooperative Agreements 242

Company Profiles 244

Armacell International Holding GmbH 245

Atlas Roofing, see Hood Companies

BASF SE 247

Bayer AG 251

Berkshire Hathaway Incorporated 253

Bridgestone Corporation 258

Carlisle Companies Incorporated 260

Carpenter Company 264

CertainTeed, see Saint-Gobain

Covertech Fabricating Incorporated 265

Dow Chemical Company 268

Dryvit Systems, see RPM International

Dyplast Products LLC 273

Evonik Industries AG 275

Fi-Foil Company Incorporated 277

Firestone Building Products, see Bridgestone

Grace (WR) & Company 279

Guardian Industries Corporation 280

Homasote Company 282

Hood Companies 284

Hunter Panels, see Carlisle Companies

Industrial Insulation Group, see Berkshire Hathaway

Innovative Energy Incorporated 286

Innovative Insulation Incorporated 288

Insulation Solutions Incorporated 289

Insulfoam, see Carlisle Companies

Johns Manville, see Berkshire Hathaway

Knauf Gips KG 291

Louisiana-Pacific Corporation 294

Materis Holding Luxembourg SA 296

Owens Corning 298

Pactiv, see Reynolds Group Holdings

Parex USA, see Materis Holding Luxembourg

Pittsburgh Corning, see PPG Industries

Polyair Inter Pack Incorporated 303

PPG Industries Incorporated 304

Pregis Corporation 306

Premier Building Systems, see Carlisle Companies

Reflectix, see Sealed Air

Reynolds Group Holdings Limited 308

Rmax Incorporated 310

Rockwool International A/S 312

Roxul, see Rockwool International A/S

RPM International Incorporated 316

Saint-Gobain 317

Sealed Air Corporation 321

Sonoco Products Company 323

Sto AG 324

Tegrant, see Sonoco Products

Thermafiber Incorporated 326

ThermoSafe Brands, see Sonoco Products

US GreenFiber, see Louisiana-Pacific

Additional Companies Mentioned in Study 328

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators 8

2 Population & Households 12

3 Personal Consumption Expenditures 15

4 Consumer Financing Environment, 2001-2011 19

5 Building Construction Expenditures 22

6 Residential Building Construction Expenditures 24

7 Housing Starts 28

8 Housing Stock by Type 31

9 Residential Improvement & Repair Expenditures 34

10 Nonresidential Building Construction Expenditures 37

11 Nonresidential Building Improvement & Repair Expenditures 38

12 Manufacturers' Shipments 42

13 Average Insulation Prices 46

14 Insulation Market, 2001-2011 49

15 Insulation Foreign Trade 52

SECTION III -- OVERVIEW

1 Insulation R-Values by Material 58

2 Insulation Demand by Value 73

SECTION IV -- PRODUCTS

1 Insulation Demand by Material 76

2 Fiberglass Insulation Demand by Product Form 84

3 Fiberglass Insulation Demand by Market 85

4 Foamed Plastic Insulation Demand by Market 95

5 Foamed Plastic Insulation Demand by Resin 96

6 Rigid Urethane Foam Insulation Demand by Product 99

7 Rigid Urethane Foam Insulation Demand by Market 101

8 Polystyrene Foam Insulation Demand by Product 103

9 Polystyrene Foam Insulation Demand by Market 105

10 Other Foamed Plastic Insulation Demand by Market 107

11 Cellulose Insulation Demand by Product Form 111

12 Cellulose Insulation Demand by Market 112

13 Mineral Wool Insulation Demand by Material 115

14 Mineral Wool Insulation Demand by Product Form 117

15 Mineral Wool Insulation Demand by Market 119

16 Reflective Insulation & Radiant Barrier Demand by Type 122

17 Reflective Insulation & Radiant Barrier Demand by Market 125

18 Other Insulation Materials Demand by Material 127

19 Other Insulation Materials Demand by Product Form 134

20 Other Insulation Materials Demand by Market 136

SECTION V -- MARKETS

1 Insulation Markets by dollar Value 139

2 Insulation Markets by R-1 Value 141

3 Residential Market Insulation Demand by Material 146

4 Residential Buildings Market for Insulation by Application 152

5 New Housing Insulation Demand by Material 154

6 Residential Attic Reinsulation Demand by Material 157

7 Residential Improvement & Replacement Applications for

Insulation by Material 159

8 Nonresidential Buildings Insulation Demand by Material 163

9 Nonresidential Buildings Insulation Demand

by Application & Type 168

10 Industrial & HVAC Equipment Market

for Insulation by Material 174

11 Industrial & HVAC Insulation Markets by Application 177

12 Other Insulation Markets Demand by Material 181

13 Other Insulation Markets Demand by Application 183

SECTION VI -- REGIONS

1 Population by Region 188

2 Gross Domestic Product by Region 191

3 Construction Expenditures by Region 193

4 Regional Housing Indicators 196

5 Insulation Demand by Region 197

6 Northeast Insulation Demand by Subregion & Market 201

7 Midwest Insulation Demand by Subregion & Market 206

8 South Insulation Demand by Subregion & Market 211

9 West Insulation Demand by Subregion & Market 218

SECTION VII -- INDUSTRY STRUCTURE

1 Insulation Revenues for Selected Manufacturers, 2011 226

2 Selected Cooperative Agreements 243

LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Year of Construction of Housing Stock, 2011 32

2 Insulation Market, 2002-2011 50

SECTION IV -- PRODUCTS

1 Insulation Demand by Material, 2011 77

SECTION V -- MARKETS

1 Insulation Markets by Dollar Value, 2011 139

2 Insulation Markets by R-1 Value, 2011 142

3 Cost/R-Value Comparison

of Residential Insulation Materials, 2011 149

4 Cost/R-Value Comparison

of Nonresidential Insulation Materials, 2011 166

5 Cost/R-Value Comparison

of Industrial & HVAC Insulation Materials, 2011 176

SECTION VI -- REGIONS

1 Insulation Demand by Region, 2011 198

SECTION VII -- INDUSTRY STRUCTURE

1 Insulation Market Share by Company, 2011 229

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