HVAC Insulation Market size worth US$7.713 billion by 2027
Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “HVAC Insulation Market – which is forecasted from 2020 to 2027”.
The prime factors propelling the growth of the HVAC Insulation Market are the increased applications of HVAC insulation, energy efficiency, and favourable government policies.
As per the report, the market for HVAC Insulation Market is expected to grow at a steady pace.
Increased safety, sound insulation, and energy efficiency are achieved by installing HVAC insulation in a structure. As HVAC insulation helps to prevent energy from being wasted and ultimately lowers energy costs, it contributes to the growing awareness of the need to reduce energy usage. The increasing use of HVAC insulation in the construction sector is likely to drive the market for it to expand significantly. The advancements in vehicle technology have raised the demand for HVAC insulation, expanding the market. The capacity to deliver improved interior quality and thermal comfort for commercial and residential buildings will positively influence the market. The expansion will increase as a result of rising government backing for the construction industry and growing energy conservation awareness.
The HVAC Insulation market has been categorized on the basis of type, component, End-User Industry and geography.
By type, the market has been classified based on Plastic Foams, Mineral Wool, Glass Wool, Rock Wool and Others. Due to its ability to both reduce heat loss in cold climates and stop heat from entering hot environments, mineral wool is used to a large extent all over the world.
On the basis of components, the classification has been done into ducts and Pipes. Insulation for duct wrap decreases heat input or loss through duct walls, saving energy and preventing condensation. Due to its closed cell structure and integrated vapour barrier, closed cell elastomeric foam, HVAC pipe insulation is a well-tested option for HVAC pipes such as refrigeration, chilled water, and plumbing systems.
On the basis of End-User Industry, the classification has been done into Residential, Commercial and Industrial. Due to the rising global construction and urbanisation, the residential segment will continue to experience consistent expansion. The sector share is projected to increase due to middle-class people’s growing demands for comfort and luxury. Additionally, the industrial sector needs substantial insulation in some manufacturing processes to increase the dependability and quality of their products.
Given the construction industry’s rapid growth, the Asia Pacific region has been stated to have the greatest market share and is anticipated to maintain its market dominance during the estimated timeframe. The region will employ HVAC insulation more and more as a result of the growing population and product manufacturing facilities.
The COVID-19 pandemic caused a decrease in overall market growth. Due to the stringent lockdown regulations, the majority of the building sectors were shut down. This period saw significant losses for the HVAC insulation industry. The market has begun to recover as nations have begun to relax the lockdown regulations. The HVAC insulation industry is anticipated to grow when most sectors return to normal.
As a part of the report, the major players operating in the HVAC Insulations market, that have been covered are Saint-Gobain S.A., Rockwool International A/S, Owens Corning Corporation, Armacell International S.A., Knauf Insulation, Johns Manville Corporation, Kingspan Group PLC, L’Isolante K-Flex S.p.A., Arabian Fibreglass Insulation Co., Ltd. and Glassrock Insulation Co. S.A.E.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/hvac-insulation-market
This analytics report segments the HVAC Insulations market on the following basis
- By Type
- Plastic Foams
- Mineral Wool
- Glass Wool
- Rock Wool
- By Component
- By End-User Industry
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- South Korea
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