HVAC Insulation Market is Predicted to Witness a CAGR 7.42% by 2030

Pune, India, May 2018 /MRFR Press Release/- Market research future published a cooked research report on global HVAC Insulation market. The HVAC Insulation market is estimated to witness a CAGR around 7.42% during the period from 2022 to 2030.

Market Scenario

Heating, Ventilation, and Air Conditioning (HVAC) systems are primarily responsible for controlling the ambient environment at all major end-user sectors. HVAC insulation provides an ideal solution for ducts and pipes to transfer energy with negligible losses. HVAC insulation improves the energy efficiency, fire safety, and acoustic performance of a building. The global HVAC insulation market is driven by the growth in the global construction industry and growing demand for energy efficient solutions. However, the market is subjected to witness hindrance due to negligence and reluctance about making buildings energy efficient among the infrastructure developers.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of HVAC Insulation Market Research Report

The growing FDI inflows in emerging economies led to increase in the production bases across Asia Pacific and other emerging regions. There has been substantial growth in the manufacturing and service industry in emerging economies such as China, India, Indonesia, Thailand, and Brazil. FDI can also help to build the capital base, and know-how is often lacking domestically for large infrastructure or industrial development projects. Emerging economies are presently gaining focus from numerous foreign developers to set up their businesses through FDI incentive schemes, which will indirectly boost the economy of the country and eventually rise in industrialization will take place. The green field FDI is currently boosting the developing economies in all perspectives. Moreover, the current independent initiatives of the Asian countries to boost their economy and the availability of low-cost labor and ample amount of raw material stocks is anticipated to propel industrialization in the region. Hence, it can be concluded that development in the industrial sector of Asia Pacific and other emerging regions will act as an opportunity for HVAC insulation market.

The global HVAC insulation market is estimated to witness a CAGR of approximately 7.42% during the forecast period.

Drivers

Glass Wool Insulation by type segment, pipes by component segment, and commercial by application segment are expected to hold the largest market size in the forecast period.

The market, on the basis of type, has been segmented into glass wool, stone wool, phenolic foam, Expanded Polystyrene (EPS) foam, nitrile rubber, Polyisocyanurate (PIR), and others. Glass wool system segment dominated the global HVAC insulation market with a share of 27.28% in 2016, in terms of value. It is projected to witness a CAGR of 8.17% during the forecast period. Glass wool has some dynamic characteristics, which make them an ideal insulation material. Glass wool provides excellent thermal insulation with optimal acoustic performance, possesses unique lightness and are thinner and cost-effective, which comes with active environmental protection. On the basis of component, the HVAC insulation market has been segmented into pipes, ducts, and others. Pipes accounted for the largest market share of 53.32% in 2016, with a market value of USD 2302.3 million and is projected to witness the highest CAGR of 7.80% during the forecast period. Polypropylene pipes are used in the HVAC system primarily for chiller installations, radiant heating, cooling systems, data center cooling, geothermal heat pump earth loops, snow-melting, and others. Metal pipes are predominantly used in the large spaces of hotels, IT parks, malls, airports, and for sterilized rooms of pharmaceutical and manufacturing industries. On the basis of application, the HVAC insulation market has been segmented into residential, commercial, and industrial. Commercial application accounted for the largest market share of 43.16% in 2016, with a market value of USD 1,863.4 million. The commercial sector is utilizing the HVAC system extensively; it is one of the major consumers of the HVAC system. The HVAC system installed in the commercial application is larger in size and provides more power output.

Scope of the Report

This study provides an overview of the global HVAC Insulation market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for Americas, Europe, Asia Pacific and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global HVAC Insulation market by type, by end-users, and by regions.

Global HVAC Insulation Market, By Type

• Glass Wool


• Stone Wool


• Phenolic Foam


• Expanded Polystyrene (EPS) foam


• Nitrile Rubber


• Polyisocyanurate (PIR)


• Others

Global HVAC Insulation Market, By Component

• Pipes


• Ducts


• Others

Global HVAC Insulation Market, By Application

• Automotive


• Residential


• Commercial


• Industrial

Global HVAC Insulation Market, By Region

• Americas


• Europe


• Asia Pacific


• Middle East & Africa

Key Players

The key players of global HVAC Insulation market are Saint Gobain S.A. (France), PPG Industries Inc. (U.S.), Owen Corning Corporation (U.S.), Rockwool International (Denmark), Armacell International S.A. (Luxembourg), L'ISOLANTE K-FLEX S.p.A. (Italy), GlassRock (Egypt), Knauf Insulation (U.S.), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group Plc. (Ireland), and Kuwait Insulating Material Manufacturing Co. (Kuwait).