European demand for thermal insulation is expected to grow by 2.2% year-on-year to reach over 213m m³, or 6.2m t, by 2017, according to the latest study released by UK researcher IAL Consultants (London; www.ialconsultants.com). This equates to a market value of nearly EUR 10.6 bn at current prices. Total European demand reached over 192m m³, or 5.6m t, in 2012, at an estimated value of EUR 9.6 bn. Meanwhile the Chinese demand for insulation material is predicted to grow much more dynamically, at 9.4% per year, Freedonia said (see Plasteurope.com of 17.01.2013).

The study – "The European Market for Thermal Insulation Products" – said markets in western Europe slowed last year. Although the trend for energy efficiency improvements continues, leading to growing requirements for thicker insulation, end-consumers are showing a preference for material with enhanced fire properties. This trend favours mineral fibres, which have natural fire protection characteristics, against expanded (EPS) or extruded polystyrene (XPS). Energy efficiency considerations as well as German Passivhaus standards, which at one time promoted the use of polyurethane (PU) and polyisocyanurate (PIR) materials, are now being weighed against fire properties, IAL said.

Demand for insulation materials in eastern Europe could see a compound annual growth rate (CAGR) of 3.1% to 2017, led by Turkey where growth is tipped at 4.1% per year because of its rapidly rising population, positive GDP projections, a booming construction sector as well as more stringent regulations.