According to the latest PMR report, “Thermal insulation materials market in Poland 2019. Market analysis and development forecasts for 2019-2024“, the projected growth rate of the value of the market analysed in the report will be two-digit in 2019, as in 2018.
Positive forecasts for the thermal insulation materials market in Poland
According to the latest estimates by PMR, the value of the thermal insulation materials market (domestic production including foreign trade, including foamed polystyrene, mineral wool and foam products) in 2018 grew by double-digit numbers and reached almost 6.6 billion PLN. The increase in the value of the market of thermal insulation materials was supported by strong growth in the cubature building industr
The latest PMR forecasts indicate that the double-digit growth rate of the thermal insulation materials market will be maintained in 2019, which will be positively influenced by the situation in the residential construction industry. In addition, forecasts for office and public utility construction are also good.
We estimate that the coming years will bring further increases in the number of dwellings delivered for use, but without additional investments implemented under the Mieszkanie+ programme the threshold of 200,000 dwellings delivered annually will not be exceeded.
The following years will bring a downward trend in the number and area of dwellings to be completed. In the longer term (from 2021 onwards), the segment of non-residential areas completed in Poland will also see declines. This will translate into lower dynamics of growth in the market of thermal insulation materials. The factor positively influencing the forecasts for the market of thermal insulation materials in Poland are the governmental programs supporting thermomodernization.
Potential for thermo-modernisation in single and multi-apartment buildings
Both in the single- and multi-apartment buildings segment, we see potential for thermo-modernisation works.
Approximately 40% of multi-family buildings surveyed by the Central Statistical Office (GUS) require thermomodernisation. An additional impulse to carry out thermomodernization works in multi-family buildings may be the planned support program for the renovation of large-panel blocks. The government plans to allocate billions of zlotys for thermomodernization of such blocks. Approximately 60 thousand large-panel buildings may be modernized thanks to subsidies for, among other things, thermal insulation of buildings.
In the single-family construction segment, the “Clean Air” programme, which has been in operation since September 2018, will continue to provide a positive impulse for thermal modernisation works.
Nevertheless, despite the chances that the government support programmes bring to the market of thermal insulation materials, one should not forget about the risk of a potential suspension or suspension of their operation.