Residential insulation demand was approximately $4.2 billion in 2019. According to Principia’s recently updated demand and forecast, insulation demand in 2020 is forecast to be approximately $3.8 billion in 2020—a 9% decline from 2019 demand due to the impact of COVID-19. Prior to the pandemic, insulation demand was forecast to be approximately $4.4 billion in 2020.
COVID-19-related impacts on residential insulation demand include:
- Insulation demand for new construction is projected to increase in the second half of 2020 as builders apply for permits and begin construction to meet demands for single family homes
- Insulation demand for single family units will increase as homeowner preferences shift from multifamily
- Insulation demand in areas that did not shut down or construction was exempted will grow faster than those where construction was halted
More information about residential insulation demand is available for purchase in three product offerings designed to meet your specific needs Product Demand Snapshot, DemandBuilder®, and BuilderSeries®.
Check out more insights about residential insulation demand here.