Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Global HVAC Insulation Market by Product Type (Pipes, Ducts), Material Type (Mineral Wool, Plastic Foam), End-use (Commercial, Residential, Industrial), and Region (North America, Europe, APAC, South America, MEA) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market size for HVAC Insulation is estimated at USD 5.8 billion in 2022 and is projected to reach USD 7.4 billion by 2027, at a CAGR of 5% between 2022 and 2027.
The demand for HVAC insulation is increasing owing to the growth in construction activities in both developed and emerging economies.
In terms of value, pipes accounts for the fastest-growing segment in HVAC Insulation market, by product type, during the forecast period
Pipe insulation not only offers high levels of thermal performance, but it offers excellent acoustics to reduce noise as well.
Moreover, pipe insulation regulates the internal temperature of a pipe; increases the operating efficiency of heating, ventilating, cooling, plumbing; helps in the reduction of heat loss and thereby saves more energy and money; reduces the damage to equipment from exposure to fire or corrosive atmospheres; and reduces the emission of pollutants into the atmosphere.
In terms of value, mineral wool is estimated to be fastest-growing segment in HVAC Insulation market, by material type, during the forecast period
Mineral wool such as stone wool provides thermal, acoustic, and fire protection.
It is a highly effective insulating material. Mineral wool ranges from loose material used for injected insulation of cavity walls to slabs and rolls for wall insulation and pre-formed and faced pipe sections. Stone wool is especially useful when superior fire resistance and acoustic performance are required.
In terms of value, residential is estimated to be fastest-growing segment in HVAC Insulation market, by end-use, during the forecast period
Owing to higher levels of economic growth and anticipated improvements in the quality of life over the next few years, developing countries are expected to witness see a rapid increase in residential construction demand during the forecast period. Building construction is growing due to the increase of growing population & population shift toward urban areas.
The growing infrastructure and residential construction are focusing on below-ground construction to build robust and water & moisture-proof building structures, thereby creating demand to insulate pipes in HVAC Insulation market.
North America region accounted for the second-largest share in the HVAC Insulation market by value
North America was the second-largest HVAC insulation market, accounting for a share of over 20% in 2021. Building & construction is the largest end-use industry of HVAC insulation in the region.
The HVAC insulation market in North America is witnessing a moderate growth rate owing to the maturity of the market. Rising awareness for energy efficiency is expected to drive the growth of the residential market, and the non-residential market is expected to recover from the economic downturn due to the COVID-19 pandemic.
Competitive landscape
Owens Corning Corporation (US), Saint-Gobain Isover (France), Rockwool International (Denmark), Knauf Group (US), and Armacell International (Luxembourg) are some of the key players in the HVAC Insulation market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 209 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $5.8 Billion |
| Forecasted Market Value (USD) by 2027 | $7.4 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Premium Insights
- Asia-Pacific to Offer Attractive Opportunities for Players in HVAC Insulation Market
- Pipes to be Faster-Growing Product Type
- Mineral Wool to be Faster-Growing Material Type
- Residential to be Fastest-Growing End Use
- India to Grow at Highest CAGR
Market Dynamics
Drivers
- Rising Growth of Construction Industry
- Use of Eco-Friendly Materials
- Increasing Demand for High-Temperature Insulation
- Government Support in Form of Tax Rebates and Credits
Restraints
- Increased Cost of Insulation Materials
- Lack of Awareness About Energy Efficiency
Opportunities
- Stringent Government Regulations Encouraging Energy Efficiency
- Technology Advancement in HVAC
Challenges
- Lack of Proper Disposal & Recycling Techniques for Glass Wool
- Requirement of Skilled Workforce to Hinder Market Growth
Case Study Analysis
- Johns Manville
- Fletcher Insulation
- Rockwool
Company Profiles
Major Players
- Saint-Gobain SA
- Owens Corning Corporation
- Rockwool International
- Armacell International SA
- Knauf Group
- Kingspan Group PLC
- Johns Manville Corporation
- Glassrock Insulation Co SAE
- L'isolante K-Flex S.p.A
- Ursa Insulation SA
Others
- Arabian Fibreglass Insulation Co. Ltd. (AFICO)
- Fletcher Insulation Pty. Ltd.
- Xiamen Goot Advanced Material
- Covestro
- PPG Industries Inc.
- Huntsman Corporation
- Lindner Group AG
- Bradford Insulation Pty Limited
- Sager SA
- Union Foam S.p.A.
- Sekisui Foam Australia
- Gilsulate International, Inc.
- Promat International
- Wincell Insulation Co. Ltd.
- Visionary Industrial Insulation
For more information about this report visit https://www.researchandmarkets.com/r/w2av0y
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