Market of Thermal Insulation Materials for Housing in Japan: Key Research Findings 2021
Shipment Volume of Thermal Insulation Materials for Housing (as a Total of 7 Categories) in FY2020 Dropped by 8.7% YoY to 340,000 tons and Shipment Value Declined by 7.7% YoY to 165,900 Million Yen
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the domestic market of thermal insulation materials for housing, and has found out the shipment volume/value, the trend by category, the trend of the market players, and future outlook.
The domestic market size of thermal insulation materials for housing in FY2020 was estimated as 343,304tons in volume, a drop by 8.7% from the previous fiscal year, while the market size in value was estimated as 165,950 million yen, a fall by 7.7% from the previous fiscal year.
Although the degree of decrease from the previous fiscal year differed depending on the type of insulation materials, ranging between 4 to 12 percent, decline of new housing starts owing to COVID-19 was the common reason for the shrinkage in demand for all types of thermal insulation materials.
Reforming Homes to Improve Insulation
Thermal insulation material makers are eager to opt in the market of home renovation, for instance, by launching products for home reforms, expanding sales channels, and taking part in planning of large-scale renovation projects.
Presently, sales ratio of (products for) home renovation is still low at businesses. Nonetheless, as utilization of existing homes is promoted to realize carbon neutral society, the need is on the rise for improving insulation as renovation of existing homes.
Against the background of decline in the number of new housing starts, in a long term, to be engaged in the market of existing homes is inevitable for thermal insulation material makers. To expand or sustain their business growth, the makers are expected to show initiative at the home renovation market.
The domestic market size of thermal insulation materials for housing in FY2021 is likely to increase by 2.1% from the previous fiscal year to attain 350,600 tons in volume, and the market size in value to rise by 1.9% to achieve 169,130 million yen.
In the last couple of years, as major house suppliers (including major housing builders) started conforming to “thermal insulation grade 4” and demand rose for super-insulated house such as ZEH (Net Zero Energy House), the opportunity of and the volume of these materials used per house have increased. Therefore, the market expanded.
Considering the rise in development of super-insulated houses by housing builders and local building contractors to conform to the energy saving standard for newly-built detached houses, which will be obligatory from FY2025, the market of thermal insulation materials for housing is projected to grow further.
The copyright and all other rights pertaining to this report belong to Yano Research Institute.
Please contact our PR team when quoting the report contents for the purpose other than media coverage.
Depending on the purpose of using our report, we may ask you to present your sentences for confirmation beforehand.