A mixed signal for the wood and timber construction sector: STEICO, a German manufacturer specializing in wood fiber insulation, has confirmed its 2024 annual results following the publication of its final accounts. The company, listed on the Prime Standard of the Frankfurt Stock Exchange, thus maintains the provisional figures communicated in March, in an environment marked by a structural slowdown in new construction and increased pressure on insulation material prices.
For sector professionals, STEICO's validated figures constitute a significant indicator of the ability of bio-based insulation to maintain its position against conventional solutions such as mineral wool or EPS. While construction volumes declined across the DACH region, the confirmation of annual results demonstrates a certain resilience of the premium positioning in the energy renovation and timber frame construction segment.
Wood fiber materials, characterized by a high volumetric density (between 160 and 270 kg/m³ depending on STEICO products) and thermal conductivity (λ value) between 0.038 and 0.050 W/(m·K), benefit from strong demand in projects subject to GEG requirements and in Passivhaus certified buildings. Unlike mineral insulation, wood fiber also offers higher thermal inertia, which improves summer comfort, an argument increasingly valued by architects.
The market environment nevertheless remains difficult. High interest rates continue to weigh on private investment in new construction, while public support programs for energy renovation are experiencing budget adjustments. In this context, manufacturers of bio-based materials such as STEICO, but also EGGER or Kronospan for wood-based panels, must balance product innovation, production capacities and management of raw material supply costs.
The confirmation of 2024 results also comes in a context of transformation in the insulation sector, marked by intensified competition between bio-based and synthetic insulation, as well as increasing requirements regarding EPD (environmental product declarations). For design offices and building owners, the choice between wood fiber and mineral wool now depends as much on thermal performance criteria as on carbon footprint and end-of-life recyclability criteria, in accordance with the principles of circular building.
