HVAC Insulation Market Analysis:

During the period, the HVAC insulation market share is estimated to reach 7.42% CAGR by Energy conservation is giving rise to the demand for energy-efficient HVAC insulation solutions and hence, help the market to grow.

Heating, ventilation, and air conditioning (HVAC) systems are responsible for controlling the ambience in indoor environments. They are effective when installed over sealed sheet metal ducts. They are designed to prevent heat from being transmitted from an area to another and decreases energy use. The global HVAC insulation market report by Market Research Future (MRFR) provides the scope of the industry combined with strategic analysis of challenges and drivers of the industry for the period of 2022 to 2030 (forecast period). The COVID-19 outbreak and its effects are covered in the report.

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Market Scope

Infrastructural projects are one of the biggest drivers of the market due to economic growth in developing and developed regions. Improvement in commodity prices and demand for energy-efficient buildings for curbing soaring costs can bode well for the market. Major nations of the Asia Pacific are introducing new reforms and laws for easing the adoption of HVAC insulation units in buildings.

Variations in climatic conditions and heating and cooling codes in buildings can bolster the market demand significantly. Integration of these systems with IoT sensors, remote control systems, and hybrid units for reducing energy consumption can facilitate market growth. Retrofitting and replacement of new components in adherence to energy conservation policies can lead to higher performance of machines in assembly lines and electrical appliances in residential and commercial buildings.

Regional Analysis

The Americas market for HVAC insulation is majorly divided into the U.S., Canada, Brazil, and Rest of Americas. The region has witnessed phenomenal growth in the construction industry. This has induced the demand for HVAC systems along with insulation in this region.

Europe holds a marginal share in the global HVAC insulation industry. The strong exports of insulation material from European countries and construction of smart buildings can drive the regional market demand significantly. This along with strong private construction growth induces the demand for HVAC insulation. Implementation of environmental norms and a strong industrial sector can facilitate the market expansion in the region.

Asia Pacific is the fastest growing region for the global HVAC insulation market. The region is marked with increasing construction activities alongwith foreign investments in the real estate development. The region offers lucrative opportunities for the global players owing to positive economic development and increasing disposable income levels of customers. This has spiked the growth of the HVAC insulation used in the construction industry in the cooling systems.

The HVAC insulation market in the Middle East & Africa is growing. Due to developing infrastructure, the undeveloped opportunities in this region and continuously increasing demand for HVAC units has driven the growth of the market. However, the high cost of technology and limited investments can hinder the market growth.

Segmentation

BY TYPE

¡  Glass wool

¡  Stone wool

¡  Phenolic foam

¡  Expanded Polystyrene (EPS) foam

¡  Nitrile rubber

¡  Polyisocyanurate (PIR)

By Component

¡  Pipes

¡  Ducts

¡  Others

By Application

¡  Residential

¡  Commercial

¡  Industrial

BY REGION

¡  Americas

¡  Europe

¡  Asia-Pacific

¡  Middle East & Africa

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Competitive Outlook

Owen Corning Corporation, Fletcher Insulation Pty Ltd., GlassRock, Saint Gobain S.A., Kuwait Insulating Material Manufacturing Co., PPG Industries Inc., Armacell International S.A., Knauf Insulation, Rockwool International, L'ISOLANTE K-FLEX S.p.A., and Kingspan Group Plc. are key players in the global HVAC insulation market.