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Thermal Insulation - UK - August 2017

Published By :

Mintel

Published Date : Aug 2017

Category :

Banking

No. of Pages : N/A

The new private owners of the Green Deal Finance Company, which was revived in June 2017, have said they will use the Green Deal to address new legislation-driven demand in the private rented sector. However, with the Green Deal only in soft launch phase as of mid-2017 with just six Green Deal providers able to undertake improvement work through the scheme, it is likely to be too constrained in scope to generate meaningful levels of uptake in loans in the private rented sector, at least in the short term.
Table of contents

EXECUTIVE SUMMARY
The market
Figure 1: The UK market for thermal insulation, by sector, 201216
Thermal insulation market expected to demonstrate modest annual growth post-2017, partly driven by demand in new housebuilding sector
Figure 2: Forecast UK market for thermal insulation, 2016-20
Market factors
Figure 3: Construction output in Great Britain, 2011-15
Figure 4: Total number of Insulation measures installed under ECO and Green Deal , by region, January 2013 March 2017
The Industry
What we think
KEY INSIGHTS
What are the new Minimum Energy Efficiency Standards in the private rented sector? Will these offer growth potential for thermal insulation measures?
What are the governments future plans for the ECO scheme? What is the likely impact on the thermal insulation demand?
What are the industry proposals for the Clean Growth Plan to help address the significant gap in policy to tackle emissions from buildings?
INTRODUCTION
Definitions
Methodology
Abbreviations
Market Positioning
UK ECONOMY
Overview
Figure 5: Forecast GDP development 2017-21
Figure 6: UK GDP quarterly development, 2004-17
Figure 7: UK GDP in economic downturns and recoveries since 1979
Inflation
Interest rates
House prices
Figure 8: UK House price changes, 2006-2017
Consumer spending
Manufacturing
Figure 9: UK manufacturing, 2014-17
Business investment
Figure 10: UK GFCF 2003-17
Imports
Exports
MARKET FACTORS
Key Points
Market Factors Overview
Climate Change Act 2008
Building Regulations
Energy supplier obligation initiatives to improve energy efficiency of domestic homes
Figure 11: Summary of major energy efficiency programmes since 2000
EEC/CERT and CESP schemes boosted demand for key insulation measures over last decade
CERT and CESP replaced by ECO in 2013
Green Deal 2013-15
Green Deal Home Improvement Fund temporarily boosts take-up of solid wall insulation in 2015
Green Deal relaunched in June 2017 under new private ownership
Minimum Energy Efficiency Standards for Private Rented Sector
Enhanced Capital Allowance Scheme
Each Home Counts Review sets out new quality and standards framework for all energy efficiency and renewable energy measures
Long-awaited Clean Growth Plan, due to be published in autumn 2017, set to provide a blueprint for the UK's decarbonisation pathway
MARKET SIZE
Key Points
Market Size
Figure 12: UK market for thermal insulation, 2012-16
Figure 13: UK market for thermal insulation, 2012-16
Market Segmentation
Overview
Figure 14: Segmentation of the UK market for thermal insulation, by sector, 2012-16
BUILDING THERMAL INSULATION
Key Points
Market Overview
Revisions to building regulations see insulation standards tighten over the last 15 years
Conservative government scraps Zero Carbon Homes Plan to reduce regulation on housebuilders
Government schemes boost retro-fit installations of key insulation measures over the last decade
Frequent policy changes have resulted in a stop-start retro-fit building thermal insulation
Figure 15: UK market for building thermal insulation, 2012-16
Market Segmentation
Cost of thermal insulation could rise following EU ruling on UK reduced tax rates, though Brexit puts this into doubt
Figure 16: UK market for building thermal insulation, by type of insulation, 2012-16
Figure 17: UK market for building thermal insulation, by type of insulation, 2012-16
Cavity Wall Insulation
Figure 18: UK market for cavity wall insulation, 2012-16
Figure 19: UK market for cavity wall insulation, 2012-16
Loft Insulation
Figure 20: UK market for loft insulation, 2012-16
Figure 21: UK market for loft insulation, 2012-16
Draught Proofing
Figure 22: UK market for draught proofing, 2012-16
Roof Insulation
Figure 23: UK market for roof insulation, 2012-16
External Wall Insulation
Impact of government schemes on solid wall insulation uptake
Green Deal Home Improvement Fund provides much needed - albeit temporary - boost to solid wall insulation sector in 2014 and 2015
Government increases proposed target for solid wall insulation for 2017/18, but its lower than installations levels seen under ECO in recent years
Figure 24: UK market for external wall insulation, 2012-16
Internal Wall Insulation
Figure 25: UK market for internal wall insulation, 2012-16
Pipe & Cylinder Lagging
Figure 26: UK market for pipe & cylinder lagging, 2012-16
Floor Insulation
Figure 27: UK market for floor insulation, 2012-16
INDUSTRIAL THERMAL INSULATION
Key Points
Market Overview
Figure 28: UK market for industrial thermal insulation, 2012-16
Figure 29: UK market for industrial thermal insulation, by material, 2016
Figure 30: UK market for industrial thermal insulation, by type, 2016
Figure 31: UK market for industrial thermal insulation, by end use sector, 2016
REGIONAL ANALYSIS
Key Points
Figure 32: Insulation measures installed under Green Deal and ECO, by region, January 2013-March 2017
Figure 33: Total number of insulation measures installed under ECO and Green Deal , by region, January 2013- March 2017
Regional Construction Output
Figure 34: Regional private housing construction output, 2012-16
Figure 35: Regional public housing construction output, 2012-16
Figure 36: Regional public non-residential construction output, 2012-16
Figure 37: Regional private industrial construction output, 2012-16
Figure 38: Regional private commercial construction output, 2012-16
Figure 39: Regional housing repair & maintenance output, 2012-16
Figure 40: Regional public non-residential repair & maintenance output, 2012-16
Figure 41: Regional private non-residential repair & maintenance output, 2012-16
Figure 42: Manufacturing businesses in the UK, by region, 2016
SEASONALITY OF SALES
Key Points
Seasonality of Construction Output
Figure 43: Seasonality of public housing output, 2012-16
Figure 44: Seasonality of private housing output, 2012-16
Figure 45: Seasonality of public non-residential construction output, 2012-16
Figure 46: Seasonality of private industrial construction output, 201216
Figure 47: Seasonality of private commercial construction output, 201216
Figure 48: Seasonality of public housing repair & maintenance output, 2012-16
Figure 49: Seasonality of private housing repair & maintenance output, 2012-16
Figure 50: Seasonality of public non-residential repair & maintenance output, 2012-16
Figure 51: Seasonality of private non-residential repair & maintenance output, 201216
MARKET TRENDS
Key Points
Housing Sector Characteristics and Trends
Number of households
Figure 52: UK households, 19912016
Figure 53: Government predictions of the number of households in the UK, 2019-39
House condition
Figure 54: Housing stock distribution in England, by age, 2015
Figure 55: Housing stock analysis for England, by type, 2015
Figure 56: Housing stock distribution in Scotland, by age, 2015
Figure 57: Housing stock analysis for Scotland, by type, 2015
Figure 58: Housing stock size analysis for Scotland, by type, 2015
Home ownership
Figure 59: UK home ownership trends, 2006-16
Energy Efficiency ratings of dwelling
Housing Transactions
Figure 60: Residential property transactions in the UK, 2012-16
ECO and the Green Deal
ECO programme
Targets scaled back in ECO 2 (April 2015 - March 2017)
Third and transitory phase of ECO ( ECO 2t or ECO 3) to run from April 2017 to September 2018
Figure 61: Number of ECO measures installed, by obligation and month, Q1 2013- Q1 2017
Figure 62: Number of insulation ECO measures installed, by obligation, January 2013 to March 2017
Figure 63: Key insulation ECO measures installed, by obligation, January 2013 to March 2017
The Green Deal
Figure 64: Number of Green Deal Plans in unique properties, May 2013 to May 2016
Figure 65: Number of insulation measures installed using Green Deal Finance
DISTRIBUTION
Key points
SUPPLY SOURCES
Key Points
Production
Overview
Figure 66: UK production of selected thermal insulation materials, 2012-16
SegmentationError! Bookmark not defined.
Figure 67: Segmentation of the UK production of selected thermal insulation materials, by material, 2016
Figure 68: Segmentation of the UK production of selected thermal insulation materials, by material, 2012-16
Mineral and glass wool manufacturing sectors highly concentrated
Investment plans at UK insulation material manufacturing plants
Imports
OverviewError! Bookmark not defined.
Figure 69: UK imports of selected thermal insulation materials, 2012-16
Segmentation
Figure 70: Segmentation of UK imports of selected thermal insulation materials, by material, 2011-16
Exports
Overview
Figure 71: UK exports of selected thermal insulation materials, 2012-16
Segmentation
Figure 72: Segmentation of UK exports of thermal insulation materials, by material, 2012-16
Trade Surplus/Deficit
Figure 73: UK trade surplus/deficit in thermal insulation materials, by material, 2011-16
INDUSTRY STRUCTURE
Key Points
Industry Development
Figure 74: Analysis of the changes in the other non-metallic mineral products manufacturing industry, 2012-16
Figure 75: Analysis of the changes in the glass fibres manufacturing industry, 2012-16
Structure by Employment
Figure 76: Analysis of the employment structure of the other non-metallic mineral products manufacturing industry, 2015 and 2016
Figure 77: Analysis of the employment structure of the glass fibres manufacturing industry, 2015 and 2016
Structure by Turnover
Figure 78: Analysis of the financial structure of the other non-metallic mineral products manufacturing industry, 2015 and 2016
Figure 79: Analysis of the financial structure of the glass fibres manufacturing industry, 2015 and 2016
COMPANY PROFILES
CAPE
Cape accepts take-over offer from Frances Altrad
Company Strategy and Outlook:
Figure 80: Financial Analysis of Cape, 2012-16
CELOTEX
Company outlook
Figure 81: Financial analysis of Celotex, 2011-15
ISOVER SAINT-GOBAIN
ENCON INSULATION
Company outlook
Figure 82: Financial analysis of Encon Insulation, 2012-16
KINGSPAN INSULATION
Company performance
Figure 83: Financial analysis of Kingspan Insulation, 2011-15
KNAUF INSULATION
Company Strategy
Figure 84: Financial analysis of Knauf Insulation, 2011-15
ROCKWOOL
Company Strategy
Figure 85: Financial analysis of Rockwool, 2011-15
SIG
Company Strategy
Company Performance
Figure 86: Financial analysis of SIG, 2012-16
SPRINGVALE EPS
Figure 87: Financial analysis of Springvale EPS, 2012-16
SUPERGLASS INSULATION
Superglass is acquired by Inflection, part of Russian TechnoNICOL Group
Company performance and outlook
Figure 88: Financial analysis of Superglass Holdings, 2012-16
JABLITE
Company performance
Figure 89: Financial analysis of Jablite, 2011-15
DEMAND STRUCTURE
Key Points
Building
Figure 90: Construction output in Great Britain, by Type, 2012-16
Heating and Ventilation
Process Plant
FORECAST
Key Points
Market Size
Construction forecast
Figure 91: Forecast construction output in Great Britain, 2017-21
Figure 92: Forecast construction output in Great Britain, 2017-21
Figure 93: Forecast construction output in Great Britain, 2017-21
Housing construction forecast
Figure 94: Forecast private housing output in Great Britain, 201721
Figure 95: Forecast public housing output in Great Britain, 2017-21
Public non-residential construction forecast
Figure 96: Forecast public non-residential construction output in Great Britain, 2017-21
Figure 97: Forecast of public non-residential construction in Great Britain, by type, 2017-21
Private industrial construction forecast
Figure 98: Forecast private industrial construction output in Great Britain, 2017-21
Figure 99: Forecast of private industrial new construction work in Great Britain, by sector 2017-21
Private commercial construction forecast
Figure 100: Forecast private commercial construction output in Great Britain, 2017-21
Figure 101: Forecast of private commercial construction in Great Britain, by sector, 201721
Thermal insulation market forecast
Figure 102: Forecast UK market for thermal insulation, 2017-21
Figure 103: Forecast UK market for thermal insulation, 2017-21
Market Segmentation
Figure 104: Forecast segmentation of the UK market for thermal insulation, by sector, 2017-21
ECO 3 (April 2017- September 18) expected to fewer thermal insulation measures installed due to reduced funding, before more steady demand is anticipated under new ECO 4 scheme
Reports by Energy and Climate Change Committee and the Green Building Council urge the government for renewed committee on tackling home energy efficiency
Upcoming Clean Growth Plan presents an opportunity for government to address significant gap in policy to tackle emissions from buildings
New Minimum Energy Efficiency Standards in private rented sector expected to generate demand for key insulation measures
...but government may still introduce changes to MEES that could see many landlords win exemptions
New build sector expected to provide stronger opportunities than retro-fit, but Brexit-induced uncertainty likely to restrict growth
Figure 105: Forecast for UK market for building thermal insulation, by type, 2017-21
Figure 106: Forecast for UK market for building thermal insulation, by type, 2017-21
Industry
FURTHER SOURCES & CONTACTS
Trade Associations
Trade Magazines
Trade Exhibitions

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