Masterplast launches its mineral wool production.

The company’s management considers specific investment decisions based on available state aids, amount of electricity necessary for operation, and environmental and sustainability aspects. As a result of this development, Masterplast will have a uniquely broad thermal insulation portfolio that significantly improves the company’s competitiveness and business prospects.   

After considering the existing market trends and the strong focus on insulation materials, in yesterday’s board meeting the directors decided to launch the new strategic business branch. The company’s management lays in provision both domestic and foreign investment opportunities. The company’s latest strategy will be published and will include the mineral wool production industry’s detailed description and a new medium-term performance forecast.  

Mineral wool and fibrous thermal insulation can be done in several parts of buildings, for example, in the attic, roofs, plinths, basements, floor joists,  facades, and on the internal insulation of plasterboard walls. It can be used in different buildings, including offices, industrial halls, family houses, or condominiums. In recent years demand for mineral wool insulation has increased, but European production is limited. The unfolding energy crisis amplified the need for energy-efficient buildings and homes, which can significantly expand the thermal insulation market. With the manufacturing of fiber thermal insulation materials, the company can enter the forefront of the leading European manufacturers with a  product range with significant sales potential.

Masterplast’s basic growth strategy is to expand its in-house production, which materializes with greenfield investments and acquisitions. In the past decades, the company has made investments worth 80 million euros, from which a significant proportion aimed at manufacturing facade thermal insulation materials and related products relevant to the upgrade of energy efficiency of buildings.   The company provides market supply with eight manufacturing bases located in three countries. However, because of investments being in the final phase, in 2023, three new thermal insulation manufacturing plants (Italy, Hungary, and Serbia) will start production, leading to a great expansion in capacity for the business. In 2022 Materplast increased its sales by 63% in building’s energy efficiency, improving the facade thermal insulation product category, which is a significant increase compared to the same period last year, according to the semi-annual financial totals. 

“The company’s next great milestone is entering the mineral wool thermal insulation production, with which we enter the elite leauge of the industry dominated by large enterprises. Mineral wool thermal insulation suffered supply difficulties recently in Europe. In this vacuum segment, sales potential is solid as demand continuously expands, but available production capacities are limited. With this decision, we lay the groundwork for Masterplast to strengthen its position by the middle of this decade and become one of the greatest thermal insulation manufacturers in Central and Eastern Europe.” – said Dávid Tibor, CEO of Materplast.