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.
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.
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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.
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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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