HVAC Insulation Market Research Report – Forecast to 2027

HVAC Insulation Market Research Report By Type (Glass Wool, Stone Wool, Phenolic Foam), By Component (Pipes, Ducts), By Application (Residential, Commercial, Industrial) - Forecast till 2027

ID: MRFR/E&P/1540-CR | May 2018 | Region: Global | 112 pages

HVAC Insulation Market Overview


The HVAC Insulation Market size is expected to attain a market CAGR that amounts to 7.42% during the ongoing forecast period of 2021-2028. During the period, the HVAC insulation market share is estimated to reach a global market value worth USD 5.29 billion by the end of the period in 2028.


COVID 19 Analysis


The key market players across the globe are putting resources into the innovative work industry verticles that play a significant part in inventively and imaginatively shaping and promoting the items on a worldwide scale. This is probably going to help the players arrive at the objective of extending the client base and adding to item variety that will help the worldwide market cover the misfortunes and develop during the gauge time frame finishing in 2028. Likewise, the rising help from the public authority and public area will help the market during the period.


During the worldwide spread of the wellbeing emergencies, the exercises of different areas, just as, the organizations are developing their reliance on computerized advances on an extremely enormous scope.


Market Dynamics


Drivers


International organizations like IMF, SEC, IEA, and other government and private websites are identifying and collecting information that is useful in technical and market-oriented insights that help the players with base for the creation of market opportunities and expansion chances to dwell upon during the period. Energy conservation is giving rise to the demand for energy-efficient HVAC insulation solutions and hence, help the market to grow.


Restraints


The rising need for constant investment for the development of the HVAC insulation market share is one of the major market constraints that might limit the market from growing during the forecast period that will be ending in 2028.


Technology Analysis


HVAC insulations are market products that are being manufactured from various raw materials like glass, as well as, stone wool, phenolic foam, and elastomeric foam, along with other kinds of plastic foams. These market raw materials are supplied to the major HVAC insulation solution providers that are functional in companies and areas like Knauf Insulation (Belgium), Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group plc (Ireland) and others like the Kuwait Insulating Material Manufacturing Co. belonging to Kuwait. These global insulation providers are also increasing their focus on increasing their geographical presence in both the domestic and international regions by undertaking a series of strategies such as product launches, portfolios, partnerships, joint ventures, expansions, innovations, and, mergers, and acquisitions.


Study Objectives



  • The HVAC Insulation market report helps in projecting the CAGR rate of the market and the final market revenue of the market operations during the forecast period of 2021-2028. The report aims to discuss the impact of the coronavirus outbreak on the market scale followed by the operations and the survival strategies undertaken by the market dynamics in the form of drivers, opportunities, challenges, and restraints.

  • The report analyzes the degree of operations multiplication and the ability of the market segments that help to cater to the elaborated and development needs of the global target audience. Also, the market report covers the potential of the segments to earn revenues that will impact the forecasted market value.

  • The report helps to analyze the segment functioning in major geographies and the rising competitive degree amongst the global market players. Also, the report conducts the discussion of the market objectives and goals of the market players by helping to understand the rising scale of market operations, collaborations, and developments to dominate the global region and the market operations.


Market Segmentation


The HVAC insulation market has been divided all across the globe based on type, component, application, and region.


Based on the Type


The market has been divided all across the globe based on the type into polyisocyanurate (PIR), nitrile rubber, expanded polystyrene (EPS) foam, phenolic foam, stone wool, glass wool, and various others.


Based on the Component


The market has been divided all across the globe based on the component into ducts, pipes, and various others.


Based on the Application


The market has been divided all across the globe based on the application into the industrial sector, commercial sector, residential sector, and various others


Based on the Region


The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.


Regional Analysis


The HVAC insulation market has been divided all across the region based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that has a huge automobile sector and hence drives the market demand in this region. Moreover increasing investment in various power generation projects, tire manufacturing companies, and cosmetic companies creates more market demand. The presence of various major key players also drives the market demand in this region.


The second-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more HVAC insulation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in private construction growth drives the market demand in this region.


Being the fastest-emerging region, the third-largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as the main junctions of the automobile, electrical, pipes, and duct industry and hence drives the market demand in this region. Moreover, increasing urbanization and industrializations are another factor that creates more market demand.


The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.


Competitive Landscape


The most prominent major key players in the HVAC insulation market all across the globe are mentioned below:



  • Kuwait Insulating Material Manufacturing Co. (Kuwait)

  • Knauf Insulation (US)

  • Kingspan Group Plc. (Ireland)

  • GlassRock (Egypt)

  • L’ISOLANTE K-FLEX S.p.A. (Italy)

  • Fletcher Insulation Pty. Ltd. (Australia)

  • Armacell International S.A. (Luxembourg)

  • Owen Corning Corporation (US)

  • PPG Industries Inc. (US)

  • Rockwool International (Denmark)

  • Saint Gobain S.A. (France)


These major key players adopt various strategies to endure their market position in the HVAC insulation market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the HVAC insulation market all across the globe.


Recent Developments



  • The most prominent major key players are highly investing in mergers and acquisitions, joint ventures, and new products.

  • Fletcher Insulation Pty. Ltd. (Australia) is spending a considerable sum of money on research and development to get an upper edge over its competitors. This will help the company on enhancing its sales revenue.

  • The largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that has a huge automobile sector and hence drives the market demand in this region.

  • Being the fastest-emerging region, the third-largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as the main junctions of an automobile, electrical, pipes, and duct industry and hence drives the market demand in this region.


Report Overview


This global HVAC insulation market research report includes the following components mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technical Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global market research report contains characteristics that drive the growth of the HVAC insulation market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of COVID 19 on the HVAC insulation market in the global market is mentioned. The future growth rate in the HVAC insulation market during the review period is estimated and mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size   2023: USD 6.78 Million
  CAGR   7.42% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Component, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Saint Gobain S.A. (France), Rockwool International (Denmark), PPG Industries Inc. (U.S.), Owen Corning Corporation (U.S.), Armacell International S.A. (Luxembourg), Fletcher Insulation Pty Ltd. (Australia), L'ISOLANTE K-FLEX S.p.A. (Italy), GlassRock (Egypt), Kingspan Group Plc. (Ireland), Knauf Insulation (U.S.), and Kuwait Insulating Material Manufacturing Co. (Kuwait)
  Key Market Opportunities   Increasing Industrial Base In Emerging Economies
  Key Market Drivers

  • Growth In Global Construction Industry
  • Growing Demand For Energy Efficient Solutions


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    Frequently Asked Questions (FAQ) :


    The HVAC insulation market is anticipated to grow at a higher CAGR of 7.42% in the global market during the forecasted period.

    The most prominent major vital players are Knauf Insulation (US), PPG Industries Inc. (US), GlassRock (Egypt), and various others.

    The largest market share in the HVAC insulation market all across the globe is held by the North American region followed by the European region and Asia-Pacific region respectively.

    The large-scale application of HVAC insulation in the construction industry can propel the North America HVAC insulation market growth.

    Glass wool, phenolic foam, stone wool, nitrile rubber, Expanded Polystyrene (EPS) foam, and Polyisocyanurate (PIR) are some materials used for the production of HVAC insulators.