Insulation industry news from Global Insulation

Japan: Almedio recorded sales of US$13.6m in the first quarter of the 2025 financial year, which began on 1 April 2024. This corresponds to year-on-year growth of 56% from first-quarter levels in the 2024 financial year. The period under review brought increased domestic sales volumes of insulation materials. Almedio’s profit before tax more than tripled, to US$4m, Nikkei Asia News has reported. Nonetheless, the producer now expects to record a decline in sales of 38% and in pre-tax profit of 66% year-on-year in the full 2025 financial year.

US: Owens Corning’s sales were US$5.09bn in the first half of 2024, up by 4% year-on-year from US$4.89bn in the first half 2023. The company's adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period was US$1.31bn, up by 14% from US$1.15bn one year previously.

Chair and CEO Brian Chambers said "Owens Corning delivered another outstanding quarter, generating strong margins and cash flow while completing the acquisition of Masonite and continuing our review of glass reinforcements. Through our talented people and highly valued customer partnerships, we continue to outperform the market as we transform and grow into an even stronger residential and commercial building products company for the future."

Belarus: A delegation from the Belarusian Universal Commodity Exchange (BUCE) has entered into negotiations with Chinese synthetic fibres producers for the import of their materials. UZDA News has reported that the products will serve as raw materials for the Belarusian light building materials industry.

BUCE said "Chinese companies have become increasingly active, making regular transactions. This year, China supplied Belarus with spare parts, industrial tools, and technological equipment – mainly import-substituting products.”

Chinese imports were valued at US$84m in the opening seven months of 2024, more than double the figure for the corresponding period in 2023.

North America: Kingspan Insulated Panels North America has released its second annual sustainability report, detailing progress in the third year of the company’s Planet Passionate sustainability initiative. In 2023, Kingspan advanced its use of renewable energy, converting its DeLand, Florida, insulation plant to 100% on-site solar power. The producer reduced its total Scope 1 and 2 CO₂ emissions by 5% year-on-year and its water consumption by 2.17ML compared to 2022. It partnered with Belter Tech to divert 454,000kg of polyisocyanurate (PIR) foam from landfill.

Director of Sustainability Brent Trenga said "Planet Passionate is transforming the business on all levels, recognised by our leadership, employees and the building professionals we collaborate with. We are proud of our 2023 achievements and continue to strive for new milestones in 2024."

Japan: Glass fibre products and textiles producer Nitto Boseki raised its sales by 29% year-on-year, to US$184m, in the first quarter of the 2025 financial year. The company’s net profit more than tripled to US$23.2m. Its insulation segment raised its sales by 12% year-on-year to US$26m, recuperating a profit of US$1.4m, compared to a break-even in the first quarter of the 2024 financial year.

Nitto Boseki now anticipates a 17% rise in full-year sales, to US$766m, and a 48% rise in earnings before interest, taxation, depreciation and amortisation (EBITDA), to US$162m, in 2024.