HVAC Insulation Market Potential for Growth till 2030 | Saint Gobain S.A. (France), Rockwool International (Denmark), PPG Industries Inc. (U.S.)

Market Scope

The HVAC insulation market is expected to attain a market CAGR that amounts to 7.42% during the ongoing forecast period of 2021-2028

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.

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Segmentation

The market, on the basis of type, has been segmented into nitrile rubber, polyisocyanurate (PIR), glass wool, stone wool, phenolic foam, expanded polystyrene (EPS) foam, and others. Glass wool system segment dominated the global HVAC insulation market with a share of 27.28% in 2016. It is projected to witness a CAGR of 8.17% during the forecast period. Glass wool provides excellent thermal insulation with optimal acoustic performance, unique light nature, cost-effective, and active environmental protection.
On the basis of component, the market for HVAC insulation has been segmented into pipes, ducts, and others. Pipes accounted for the largest market share of 53.32% in 2016 with a market value of USD 2302.3 million and projected to witness the highest CAGR of 7.80% during the forecast period. Polypropylene pipes are used in the HVAC system primarily for data center cooling, snow-melting, chiller installations, radiant heating, cooling systems, geothermal heat pump earth loops, and others. Metal pipes are predominantly used in the large spaces of IT parks, hotels, malls, airports, and sterilized rooms of pharmaceutical and manufacturing industries.

On the basis of application, the HVAC insulation market has been segmented into residential, commercial, and industrial. The commercial application accounted for the largest market share of 43.16% in 2016, with a market value of USD 1,863.4 million. The commercial sector is utilizing the HVAC system extensively. The HVAC system installed in commercial buildings are larger in size and provides more power output. They provide centralized cooling for entire buildings and incorporated within various assemblies for moving the air.

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.

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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.

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.
• Kingspan Group Plc.

TABLE OF CONTENT

1 Executive Summary

2 Market Introduction

2.1 Definition 15

2.2 Scope Of The Study 15

2.3 List Of Assumptions 16

2.4 Market Structure 16

3 Research Methodology

3.1 Research Process 18

3.2 Primary Research 18

3.3 Secondary Research 18

3.4 Market Size Estimation 19

3.5 Forecast Model 20

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13 List Of Tables

TABLE 1 MARKET SYNOPSIS 13

TABLE 2 LIST OF ASSUMPTIONS 16

TABLE 3 GLOBAL HVAC INSULATION MARKET, BY TYPE, 2020-2027 (USD MILLION) 35

TABLE 4 GLOBAL HVAC INSULATION MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 39

TABLE 5 GLOBAL HVAC INSULATION MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 42

TABLE 6 GLOBAL HVAC INSULATION MARKET, BY REGION, 2020-2027 (USD MILLION) 44

TABLE 7 GROWTH DRIVERS: IMPACT ANALYSIS 46

TABLE 8 AMERICAS: HVAC INSULATION MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 47

TABLE 9 AMERICAS: HVAC INSULATION MARKET, BY TYPE, 2020-2027 (USD MILLION) 48

TABLE 10 AMERICAS: HVAC INSULATION MARKET, BY COMPONENT, 2020-2027 (USD MILLION) 49

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