Metal Building Insulation Supply Shortage

Glass Fibre Business Activity Components.jpg

Compositesworld.com indicated that North American glass fiber producers are struggling to keep up with consumption. With restricted travel and many working from home, increased sales of boats, RVs, swimming pools and hot tubs have increased the demand for continuous strand roving (Gun Rovings). The raw materials used to produce Gun Rovings are also used in the production of fiberglass insulation.  Although fiberglass manufacturers have quickly ramped up production, they have been unable to keep ahead of demand (see graph).

Emergen Research expects the CAR (compound annual growth rate) of the global fiberglass market size to expand 4.6% by 2027, mainly driven by infrastructure and construction. Composites used in wind energy, automobile, construction and electronics components is expected to contribute to the bulk of the growth. With many industry players actively manufacturing in this market, production will shift to more profitable products.

Expect metal building insulation supply delays and cost increases for at least the next year, and perhaps beyond, if manufacturers cannot adjust capacity to keep up with increasing demand.

Sources: Composites World, Emergen Research