HVAC Insulation Market By Type (Glass Wool, Stone Wool, Phenolic Foam, Elastomeric Foam and Others), Application (Residential, Commercial, Industrial) & By Region-(North America, Europe, Asia Pacific, Latin America, Middle east and Africa)- Global Trends and Forecast-(2024 to 2029)

Updated On: January, 2024
ID: 8477
Pages: 175

HVAC Insulation Market Size-(2023-2028):

The HVAC insulation market is estimated to reach USD 5.53 billion by 2028 with a CAGR of 8.94% between 2023-2028

It is driven by the expansion of the construction industry and escalated HVAC system calls. Additionally, the implementation of strict building codes and regulations to minimize energy consumption is driving the call for HVAC insulation. Worldwide industry players are capitalizing on market expansion by developing innovative solutions in HVAC insulation systems. They provide various solutions to customers that will make system installation easy and time-consuming.HVAC insulation is a system that combines three main functions: heating, ventilation, and air conditioning. Its objective is to provide thermal comfort and acceptable indoor air quality for residential, commercial, and industrial buildings. Factors that are predicted to drive the call for HVAC insulation are the escalating call for thermal insulation for energy-efficient applications and the expansion of the construction industries. The growing awareness of reducing energy consumption in buildings is also driving the HVAC insulation market.

HVAC Insulation Market Trends:

HVAC insulation is employed in various end-use industries, such as residential, commercial, and industrial building applications. In 2021, the commercial application represents the largest market share among all applications, in terms of value. The residential application is estimated to record the highest CAGR between 2022 - 2027 among any application considered in the worldwide HVAC insulation market.

Recent Developments in the HVAC Insulation Market:

Stone wool insulation specialist ROCKWOOL Ltd introduced DuoDuct, a non-combustible thermal insulation solution for rectangular and square exterior ducts that minimizes the risk of fire spreading in buildings.

HVAC INSULATION MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

8.94%

Segments Covered

  • By Type
  • By Application
  • By Region 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America: United States, Mexico, Canada
  • Europe: United Kingdom, Germany, Italy, France
  • Asia Pacific: Australia, Canada, China
  • Latin America: Argentina, Brazil, Chile
  • Middle East and Africa: Egypt, Iran, Iraq, Israel

Market Leaders Profiled

Saint Gobain S.A. (France), Owens Corning Corporation (U.S.), Armacell International S.A. (Germany), and Rock Wool International A/S (Denmark) 

HVAC Insulation Market Drivers:

Investment in infrastructure is predicted to increase in major developed and developing regions during the foreseen period. This investment is subject to improving commodity prices and is therefore also predicted to stimulate the mining industry. The growing call for energy-efficient data centers in the technology industry is predicted to further enhance the HVAC insulation market. The growing need for energy-efficient construction and maintaining high construction durability is driving the HVAC insulation industry around the world. The escalating emphasis of industrial and commercial organizations toward the adoption of energy-efficient equipment is the main trend observed in the HVAC insulation market. Additionally, worldwide warming and air pollution have made HVAC insulation systems a necessity, thus escalating the call for these systems. According to a recent report, some of the luxury residential complexes have been observed to have installed HVAC insulation systems to provide good quality air and maintain a good temperature depending on the weather.

HVAC Insulation Market Restraints:

The market is subject to hurdles due to negligence and reluctance to make buildings energy efficient among infrastructure developers. Poorly designed duct systems, leaky ducts, poorly sealed grilles, kinked, kinked, crushed or broken air ducts, partially insulated ducts, and dirty air ducts are some of the problems faced by consumers in HVAC insulation systems. A dirty duct causes infections and allergies in consumers, an incorrect design reduces efficiency to 75% or even less, and broken air ducts cause problems with ventilation and airflow. These factors can lead to major constraints on the expansion of the HVAC insulation market worldwide.

Opportunities in the HVAC Insulation Market:

The worldwide HVAC insulation market is primarily driven by the growing call for HVAC systems. Uncertain weather changes are driving escalated sales of HVAC systems, which in turn is driving the worldwide HVAC insulation market. The commercial and industrial sectors are the main driving force toward the worldwide HVAC insulation market as the consumption of HVAC systems is higher than that of residential ones. HVAC insulation saves wasted energy, lowering final energy bills, which is one of the main drivers of the worldwide HVAC insulation market. Government regulations aimed at improving the energy efficiency of commercial and industrial buildings are also driving the worldwide HVAC insulation market. The extensive use of green systems and the use of energy-efficient equipment is the main aspect driving the HVAC insulation market around the world. Likewise, it has been observed that air pollution and worldwide warming are the cause of escalated heat and climate volatility, so it is not possible to stay in a poorly isolated place. This is a very important reason that the call for HVAC insulation systems is accelerating around the world.

Challenges in the HVAC Insulation Market:

Although the HVAC insulation market is growing at a significant rate, the lack of awareness about energy efficiency among consumers and construction professionals in developing and underdeveloped countries is hampering the expansion of the market.

HVAC Insulation Market Segmentation:

By Type:

  • Glass wool

  • Stone wool

  • Phenolic foam

  • Elastomeric foam

  • Others

Glass wool HVAC insulation accounted for the largest market share due to its easy availability, low cost, and wide application areas. Phenolic foam is the fastest-growing type of HVAC insulation due to its excellent properties such as low thermal conductivity, exceptionally low flammability, lightweight, and ease of transport, handling, and storage. installation.

By Application:

  • Residential

  • Commercial

  • Industrial

In 2021, the commercial application represents the largest market share among all applications, in terms of value. The residential application is estimated to record the highest CAGR between 2022 - 2027 among any application considered in the worldwide HVAC insulation market.

HVAC Insulation Regional Analysis:

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

The Asia-Pacific region dominates the worldwide HVAC insulation market. The growing call for HVAC insulation in this region is primarily due to its immense building construction infrastructure. North America is the second-largest consumer of HVAC insulation worldwide. The market in this region is primarily driven by the growing construction industry and strict government regulations to encourage energy efficiency. The Middle East and Africa is the fastest-growing region due to upcoming construction infrastructure projects in the United Arab Emirates and the growing awareness of energy efficiency in the United Arab Emirates and Saudi Arabia.  The region has seen a phenomenal expansion in the construction industry. This has led to the call for insulation and air conditioning systems in this region. Europe has a marginal share in the worldwide HVAC insulation industry. The strong exports of insulating materials from European countries highlight the concentration of suppliers and manufacturers in the region. This, combined with strong expansion in private construction, is driving the call for HVAC insulation.

Asia-Pacific is the fastest-growing region for the worldwide HVAC insulation market. The region is marked by growing construction activity, as well as foreign investment in real estate development. The region offers lucrative opportunities to worldwide players, due to positive economic development and escalated disposable income. This has fueled the expansion of HVAC insulation employed in the construction industry in refrigeration systems. The market in the Middle East and Africa is growing. Due to the development of infrastructure, the underdeveloped market in this region and the constantly escalating call for the product has driven the expansion of the market. However, the high cost of this technology and limited investments are predicted to hamper market expansion.

HVAC Insulation Market Key Players:

Saint Gobain S.A. (France), Owens Corning Corporation (U.S.), Armacell International S.A. (Germany), and Rock Wool International A/S (Denmark) are the leading companies, with an excellent foothold in the global market. These companies are expected to account for a significant market share in the near future. Other major manufacturers of HVAC insulations are PPG Industries Inc. (U.S.), Johns Manville Corporation (U.S.), Xiamen Goot Advanced Material Co., Ltd. (China), L'ISOLANTE K-FLEX S.p.A. (Italy), Glasscock Insulation Co S.A.E (Egypt), Knauf Insulation (Belgium), Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group plc (Ireland), Kuwait Insulating Material Manufacturing Co. (Kuwait), and Paroc Group OY (Finland).

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