Fiberglass Insulation Demand to Reach 4.6 Billion Pounds in 2021
CLEVELAND, Jan. 10, 2018 /PRNewswire/ -- 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.
More information about this study is here: https://www.freedoniagroup.com/industry-study/insulation-in-the-us-by-material-market-and-region-12th-edition-3597.htm
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".
Related studies include:
#3602 Siding Market in the US (coming in January 2018)
#3572 Windows & Doors Market Forecasts (September 2017)
#3564 Roofing: US Forecasts, 15th Edition (September 2017)
About The Freedonia Group, a division of MarketResearch.com ? The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Construction & Building studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
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