Current Market Share and Reliable Forecasts through 2026

We partnered with Home Innovation Research Labs to produce what we believe is the best and most current data and forecast to help US building products companies size their market and track their growth rates relative to the addressable market.

Home Innovation Research Labs has been surveying home builders and households for decades. Their most recent detailed survey included responses from ~1,300 home builders who build ~32,000 homes per year, and ~75,000 households, more than half of whom had done a repair or remodel project in the last year.

The Building Products Demand Meter Forecasts measure installed residential market volumes across 18 major building product categories—from dimensional lumber and siding to HVAC and interior paint—through 2026.

Updated January 2024

Insulation

US residential insulation demand is projected to increase from 245.2 billion sq. ft. at R-1 installed in 2023 to 256.4 billion sq. ft. at R-1 installed in 2024, an increase of +4.6% by volume.

Insulation: 2024 Projected Residential End Market Shares

New Construction

56%

Repair and Remodel

44%

Sources: John Burns Research and Consulting, LLC; Home Innovation Research Labs

Building Products Demand Meter Forecast: Insulation uses JBREC’s proprietary market research to help you understand both market changes and total installed volume on an annual and quarterly basis. Clients can access data on insulation repair and remodels, additions, and replacements to existing homes, as well as insulation demand for new residential construction (includes both single-family and multifamily).

Segment

Quarterly Unit Installed Volumes are available for New Construction and Repair and Remodel end market exposures. Please talk to our building products consulting team for custom regional and material breakouts.

Materials Covered

Includes all insulation materials: fiberglass batt, fiberglass blown, fiberglass board, rock and slag wool batt, rock and slag woolblown, cellulose, spray foam, foam board, and other

Updated January 2024

Current Conditions

  • We expect annualized 1Q24 installed volumes to be 252.2 billion sq. ft. at R-1 (+6.5% YOY).
  • Increase in installed volumes from stronger housing starts at the end of 2023 and into 2024 due to the timing of insulation installation toward the middle of the construction process

Demand Outlook

  • 256.4 billion sq. ft. at R-1 installed in 2024 (+4.6% YOY)
  • We expect 2024 single-family housing starts to increase, driving demand for insulation. Offsetting this is a significant contraction in multifamily new construction. We expect multifamily new construction to contract by double digits in 2024 due to completed multifamily units outpacing demand and a higher cost of capital to fund multifamily projects.
  • Rate buydowns and quick-move-in homes supported 2023 new home sales, according to our monthly Builder Survey. The subsequent push to find replacement communities has primed production builders for growth.
  • The Inflation Reduction Act and energy code changes will positively impact insulation volumes for primarily new construction with a potential tailwind for re-insulation projects from homeowners.
Forecasts through 2026 are available exclusively to building products research members. Click here to learn more.

About our partner

Home Innovation Logo-Horizontal-Color-01

Home Innovation Research Labs

Home Innovation Research Labs (formerly the NAHB Research Center) is a full-service research, testing, and consulting firm determined to improve the quality, durability, affordability, and environmental performance of single- and multifamily homes and home-building products.

Reach out to our partners at Home Innovation

Ed Hudson

Director, Market Research Division at Home Innovation Research Labs

Mike Luzier

President & CEO at Home Innovation Research Labs

Building Products Demand Meter

This industry-first data product tracks current and historical US residential installed product volumes (final demand) for major building product categories.

Members can access market sizes for 18 building product categories.

Track US residential installed product volume for 18 unique building product categories: lumber, concrete, drywall, paint, bathroom fixtures, lighting, and more.

Three-year forecast of levels and growth rates are available annually and quarterly.

History of changes in product volume back to 2000 for each building product category

Also available in standardized format, enabling easy comparisons of product installation volumes relative to each category’s historical range

Based on JBREC proprietary forecasts and extensive, industry-leading survey data from Home Innovation Research Labs

Questions about our Building Products Demand Meter?

Custom Building Products Consulting Services

Building Products Consulting

Structural Building Materials, Interior Fixtures, Prefab Construction, Commercial Construction

Our team is comprised of industry experts with diverse sector and functional experience. We partner across organizations to provide custom consulting reports to aid organic and inorganic investment decisions, strategic planning, and marketing.

Capabilities

Through our custom consulting you can receive accurate answers to questions like these for insulation:

What is the is the market share of fiberglass insulation vs. spray foam?

How are code changes impacting the amount and types of insulation installed in wall cavities and attics?

How important is insulation in interior walls for noise protection?

Building Products Demand Meter Categories

We measure installed residential market volumes across 18 major building product categories.

Forecasts through 2026 are available to clients. Click on each product category to peek at our 2024 forecasts.

Contact us to maximize your opportunities in the housing market.

If you have any questions about our services, or if you would like to speak to one of our experts about how we can help your business, please contact Client Relations at clientservices@jbrec.com.