Category

HVAC Insulation Market Size, Share, Opportunities, And Trends By Type (Plastic Foams, Glass Wool, Rock Wool, Mineral Wool, Others), By Component (Ducts, Pipes), By End-Use Industry (Residential, Commercial, Industrial), And By Geography - Forecasts From 2019 To 2024

Published: Mar 2020 | Report Code:  KSI061610275 | Pages:  114

Global HVAC Insulation market is projected to witness a CAGR of 7.27% to reach US$5.834 billion by 2022, increasing from US$4.108 billion in 2017. HVAC insulation system combines three major functions- heating, ventilation, and air-conditioning. The system provides thermal comfort and acceptable indoor air quality for end-use industries. Some of the key factors driving the market growth include booming construction industry and burgeoning demand for HVAC systems. Strict regulations and building codes for minimizing the energy consumption are further fuelling the demand for HVAC insulations across end-use industries.    

By End-User Industry

Global HVAC Insulation market is segmented by the end-use industry as residential, commercial, and industrial. Commercial buildings accounted for the largest market share, in terms of value, in 2016. Commercial buildings such as offices, colleges, auditoriums, and others require larger HVAC systems. Increasing corporate profits and decreased office vacancy rates will boost the construction of new office buildings which, in turn, will bolster the growth of HVAC insulation market. Residential sector will witness the fastest growth at the highest CAGR during the forecast period owing to growing global population and rising purchasing power of people and expanding urbanization in developing countries.  

By Geography

Geographically, APAC region accounted for the largest share of global HVAC insulation market in 2016 due to growing construction industry in emerging economies such as China and India in the region. Moreover, rising awareness for reducing energy consumption along with the imposition of stringent regulations to enhance the energy efficiency of buildings in major APAC countries drives the APAC HVAC Insulation market. In India, the Energy Conservation Building Code (ECBC) sets minimum energy standards for new commercial buildings having a connected load of 100kW or contract demand of 120 KVA and above. Americas will also witness a considerable market growth due to favorable government initiatives such as Weatherization Assistance Program in North American countries to promote thermal insulation in low-income households group.

Competitive Insights

Prominent key market players in global HVAC Insulation market include Saint-Gobain, Owens Corning Corporation, PPG Industries, Rockwool International, Armacell International, Johns Manville Corporation, Knauf Insulation, Kingspan Group, and others. Industry players are investing heavily in R&D activities to expand their market share. Furthermore, they are actively engaged in new product development while improving their existing products and services portfolio to acquire new customers. Market players are launching new products that strictly adhere to energy regulations in various regions to gain a larger regional market share. In 2016, Johns Manville introduced three new rovings - Multistar® 566 for panel and fabric reinforcements, StarRov® 090 for reinforcement of composite profiles, and StarRov® 089 for reinforcements of styrene-free resins- to serve the building and construction, sporting goods, and wind energy markets.  

Segmentation

In this report, Global HVAC Insulation market is segmented by type, by component, by end-use industry, and by geography:

By Type

Plastic Foams

Glass Wool

Rock Wool

Mineral Wool

Others

 

By Component

Ducts

Pipes

 

By End-Use Industry

Residential

Commercial

Industrial

 

By Geography

Americas

 

North America

U.S.

Canada

Mexico

Others

 

South America

Brazil

Argentina

Others

 

Europe Middle East and Africa

Europe

UK

Germany

France

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

Japan

China

India

Australia

Others

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