HVAC Insulation
Market Overview
The global HVAC Insulation
Market was analyzed by Market Research Future (MRFR) and it was projected that
a decent CAGR of 7.42% will be attained by the market over the forecast period
of 2018 to 2023. The valuation of the HVAC insulation market was further stated
to surpass its previous valuation of USD 4,317.7 Million in 2016 and is
projected to reach USD 7,080.9 Million by 2023. 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.
Competitive
Landscape
The global HVAC insulation
market comprises a host of key players. This includes names like PPG Industries
Inc. (U.S.), Armacell International S.A. (Luxembourg), Saint Gobain S.A.
(France), Fletcher Insulation Pty Ltd. (Australia), Owen Corning Corporation
(U.S.), Rockwool International (Denmark), Knauf Insulation (U.S.), L'ISOLANTE
K-FLEX S.p.A. (Italy), Kingspan Group Plc. (Ireland), GlassRock (Egypt),
and Kuwait Insulating Material Manufacturing Co. (Kuwait).
Regional Analysis
The global HVAC insulation market
is geographically distributed across the following key regions: Asia Pacific,
Americas, Europe, and the Middle East & Africa (MEA).
The Americas comprising
Canada, the US, Brazil, and the Rest of the Americas. Over the years, the
construction industry in the region has majorly expanded, thereby increasing
the demand for HVAC systems and insulation. The region holds the primal
positioning the global HVAC insulation market and is expected to maintain the
same in the coming years.
The European region holds a
considerable share of the global HVAC insulation market to stand out as the
second-largest regional market. The consistent exports of insulation materials
from European nations has brought forward a concentration of manufacturers and
suppliers in the region. Aside from this, the strong growth noticed in the
private construction industry is also expected to propel the demand for the
regional market.
Asia Pacific stands out to
be the fastest growing region in the global HVAC insulation market. The growth
of the region can be attributed to the increasing number of construction
activities and the heightened level of foreign investments being made to
encourage real estate development.
The Middle East & Africa
region is growing at a significant pace to make a mark in the global HVAC
insulation market landscape.
HVAC Insulation
Industry Segmentation
The global HVAC insulation
market has been segmented in terms of type, application, and components.
By type, the market segments
into phenolic foam, glass wool, Expanded Polystyrene (EPS) foam, stone wool, it
rile rubber, Polyisocyanurate (PIR), and others.
By component, the market
includes ducts, pipes, and others. The pipes segment held the highest position
in the global HVAC insulation market back in 2016 with a share of 53.32% and a
market valuation of USD 2302.3 Million. The segment is anticipated to grow at a
notable pace of 7.80% over the forecast period.
By application, the market
comprises commercial, residential, and industrial. The commercial segment held
43.16% of the global market back in 2016 to lead the application category.
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.
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