Global Gypsum Newsletter

Masterplast raises sales in first nine months of 2026

Hungary: Masterplast recorded sales of €137m in the first nine months of 2026, up by 24% year-on-year. The producer reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of €14.6m, more than double its nine-month 2025 figure. It reported a profit after tax of €5.7m, in contrast to a loss in the corresponding period of 2025. In the third quarter of the year, thermal insulation system products contributed 4% lower sales year-on-year.

Local market metrics showed year-on-year growth in the first nine months of 2026, including 3% more dwelling completions and 5% more starts in Poland. Nonetheless, there were contractions in Hungary and the EU as a whole. In 2027, Masterplast anticipates a ‘significant demand-stimulating effect’ on Hungary’s insulation market through a planned family home renovations scheme.

Union Insulated Panel commissions US$10.9m Porac insulated panel plant

Philippines: Phinma subsidiary Union Insulated Panel has commissioned a new US$10.9m insulated panels plant in Porac, Pampanga. The plant will be subject to a study for a potential solar power and battery system in future. The Philippine Star newspaper has reported that the plant is intended to help reduce the Philippines’ import reliance for insulation.

The Philippines imported 40 – 50% of its insulation in 2025.

Rockwool trials stone wool insulation recycling at BASF Ludwigshafen chemicals plant

Germany: Rockwool has participated in a trial to recycle its stone wool wire mesh blanket insulation at chemicals company BASF's Ludwigshafen plant in Rhineland-Palatinate. Rockwool and a ‘specialist’ partner developed a plant to separate the stone wool content from laminations, wire mesh and other components. The resulting recovered stone powder can replace basalt as a raw material in onward stone wool production. Rockwool uses exclusively uncontaminated insulation produced after 2000 in the plant.

Kingspan denies dishonestly supplying unsafe insulation for Pendleton Regeneration Scheme housing blocks

UK: Ireland-based Kingspan has denied liability for the use of its K15 rigid thermoset phenolic insulation boards at three high-rise blocks in the Pendleton Regeneration Scheme residential development in Salford, Greater Manchester. The insulation board were non-compliant for use in buildings over 18m high, allegedly contributing to a US$91.9m settlement paid by contractor Equans for resulting refurbishment work. The Sunday Times newspaper has reported that Equans is seeking a building liability order against Kingspan, fellow building products supplier Unilin and metal components supplier Arconic on the basis of alleged fraudulent or misleading representations about products used in the development, including K15 insulation.

Kingspan explained that it made no such representations, nor was it negligent. It has identified the presence of Arconic’s Reynobond polyethylene-aluminium composite panels as the alleged cause of the blocks’ non-compliance and further pointed out ‘missing and/or defective cavity barriers, structural defects and widespread workmanship defects’ as the fault of Equans.

European Commission fines Kingspan for inaccuracies in Trimo acquisition submissions

Slovenia/Ireland: The European Commission has fined Kingspan €40m for providing ‘incorrect and misleading information’ during a 2021 review of its now abandoned attempt to acquire Slovenia-based mineral wool sandwich panels and insulation systems producer Trimo. In a press release, the Commission said that the fine comprises €10m for each of four infringements of the EU Merger Regulation. The infringements concerned the availability of bidding data, directors' involvement in the planned acquisition, how the producer tracks penetration rates for mineral fibre sandwich panels and its research and development.

Kingspan said that it will appeal the decision.

Saint-Gobain India announces US$1.14bn acquisitions-driven growth plan

India: Saint-Gobain India plans to invest US$1.14bn to ‘triple’ its business by 31 March 2031, the end of its 2031 financial year. The Hindu BusinessLine News has reported that the plan will target acquisitions and include insulation. The producer says that it is positioned to commence exports of stone wool insulation to Australia. Important domestic markets, meanwhile, include Tamil Nadu, where the group has committed to projects worth a total US$560m.

Saint-Gobain Asia-Pacific and India CEO Sreedhar Natarajan said “I am willing to acquire anything meaningful for our organisation.”

BASF in exploratory talks to acquire Evonik Industries

Germany: BASF has entered exploratory talks to acquire fellow chemicals company Evonik Industries outright. Evonik Industries’ major shareholder RAG-Stiftung is also partaking in the talks.

Lanxess launches Purventis flame retardants for insulation

Germany: Speciality chemicals company Lanxess has launched Purventis, a range of flame retardants use in insulation production and applications. Plastics Information Europe News has reported that the range’s flagship Purventis Core fire retardant is suitable for use in polyisocyanurate (PIR) and rigid polyurethane (PU) foams. Target applications include closed-cell spray foams, construction panels and roof and wall insulation.