Knauf-Insulation Comment: Q2 2024

A new government, and a new national mission for the construction industry – to build 370,000 new homes a year. This will require housebuilding at levels not seen in Britain since the sixties.

How will we deliver these volumes (a 63% increase on the net total delivered in FY22/23)? And how will we ensure those homes meet the more exacting performance standards required of them?

The government expects radical planning reform to unlock and enable more development, at greater pace. But for the actual delivery of those homes, the industry must provide solutions.

There are two reasons I believe mineral wool insulation will be at the centre of the response.

The first is volume. Supply of mineral wool in the UK is reliable and robust. It’s made from abundant local raw materials, so isn’t subject to the volatility of petrochemical supply. Significant investment will bring even more capacity onstream over the course of the parliament (including the new Knauf Insulation rock mineral wool factory we recently announced, and the upgrade underway at our glass mineral wool plant in St Helens).

The second is performance. By this I mean real performance. Announcing the new targets, Deputy Prime Minister and Secretary of State for Housing, Communities and Local Government Angela Rayner described the need for these homes to be “safe, warm and sustainable”. Glass mineral wool insulation delivers against all three requirements. It’s non-combustible, it has the lowest embodied carbon of any mainstream insulation material, and it readily achieves required U-values, especially with 150mm cavities becoming the new norm. Due to its inherent flexibility, it’s also easier to install correctly than full-fill rigid boards, meaning specified performance is more likely to be delivered in the real world.

The signal is clear. As the industry steps up to achieve this new target, merchants will sell a lot more insulation – in more homes, and more per home in 150mm cavities and deeper lofts. And that insulation will need to do more in terms of its performance. A good time to stock mineral wool.

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