Also fueling the growth of insulation? Ongoing efforts to upgrade existing homes by remodelers and homeowners. Those efforts will spark double-digit annual demand through 2017.
Fiberglass will remain the market leader, with demand reaching $5 billion. Currently it accounts for just under one-half of all insulation demand.
Fiberglass’ ease of use and relatively low cost could be helping drive its continued demand.
Foamed plastics hold the second-largest share of the insulation market, and demand is growing. It is forecasted to grow almost seven percent annually to $4.6 billion in 2017.
One reason for the increased popularity of foamed plastics could be because of its permanence and high thermal value.
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