The insulation market in Europe was not as badly affected by the Corona crisis as other sectors, and was already able to exceed pre-crisis levels in 2021. A further increase of 5.5% in volume is expected for 2022, according to a study by Interconnection Consulting.

The insulation market remains dynamic due to the actions of the EU and European governments, which are trying to reduce greenhouse gas emissions through regulations and legislation. “After all, 40% of total energy use and 35% of greenhouse gases are consumed by buildings,” says Giacomo Tomada, author of the study. Spain and Italy are the fastest growing markets in Europe, with sales growth of 7.3 and 7.2% respectively. These above-average growth figures are partly due to the sharp downturn experienced by the two southern European economies in 2020. However, when it comes to the overall market, these two countries only play a subordinate role. Italy’s share of turnover is 3.7% and Spain’s 3.3%. The largest markets are Germany with a share of 17.9% and the UK with 14.1%. The largest markets in terms of volume are Germany with sales of 37.7 million cubic metres followed by Poland 31.1 and UK 22.0 million cubic metres.

Mineral Wool Dominates in Europe

Mineral wool is the most important insulation material with a share of about 42% in volume followed by polystyrene with 33.7% in volume. Mineral wool is also the top-selling insulation material in Europe with a share of almost 40%. PUR/PIR (polyurethane/polyiso rigid foam) comes in second with 27.9%. The PIR insulating materials are a further development of the PUR insulating materials that have been used since the 1960s. PUR/PIR is also the product segment with the greatest growth potential in the coming years.

Residential Construction Rules the Insulation Industry

About half of sales are used for walls, followed by ceilings with about one third of sales and floors with 13%. The most important purchasing segment is residential construction with a share of more than two thirds (68.8%). New construction is just ahead of the renovation segment with about 55:45. The most important companies in the European market are (alphabetically): Armacell, Austrotherm, Baumit, Ceresit, ISOVER, Kingspan, Knauf, Paroc, Rockwool, Ruuki, Sto, Weber, Xella.

The study examined: Germany, Austria, Switzerland, Spain, Italy, France, UK, Netherlands, Belgium, Sweden, Czech Republic, Slovakia, Poland, Romania, in addition, the study analysed the countries: Turkey, China, Saudi Arabia and Russia.

Link to the report

02/06/2022

Copyright: Interconnection, Publication free of charge for coverage regarding the study and InterConnection Consulting.