According to IMARC Group’s latest report, titled “HVAC Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global HVAC insulation market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.47% during 2023-2028.
Heating, ventilation, and air conditioning (HVAC) insulation system is usually installed in buildings to maintain extreme temperature fluctuations while providing comfort and a healthy environment for residents. It also reduces the internal thermal load, which prevents the risk of overheating and icing of water vapor and condensation on cold surfaces. Consequently, heating, ventilation, and air conditioning devices find extensive applications in schools, hospitals, airports, and residential and commercial buildings across the globe.
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What are the growth prospects and trends in the HVAC insulation industry?
The inflating focus on sustainable development is primarily augmenting the HVAC insulation market. Furthermore, the rising utilization of these systems in the automotive sector, as they have a high level of thermal and acoustic performance that helps decrease heat accumulation, enhance passenger comfort, and increase fuel economy, is also bolstering the market growth. The widespread adoption of heating, ventilation, and air conditioning devices in the construction industry is further catalyzing the global market. Moreover, the increasing usage of HVAC systems, as they are non-combustible, saves overall operating and maintenance costs, and offers low thermal conductivity, is positively influencing the market growth.
The launch of numerous initiatives undertaken by the government bodies of several countries for implementing strict regulations to minimize energy consumption, on account of the growing environmental concerns, is also driving the global market. Additionally, leading players are highly investing in the deployment of consumer-friendly and customized systems in premium and luxury vehicles, which is acting as another significant growth-inducing factor. Additionally, the rising industrialization and extensive research and development (RD) activities are expected to drive the HVAC insulation market in the coming years.
Competitive Landscape With Key Players:
The competitive landscape of the HVAC insulation market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Arabian Fiberglass Insulation Company Ltd.
- Armacell International Holding GmbH
- Compagnie de Saint-Gobain S.A.
- Fletcher Insulation Pty Limited
- Glassrock Insulation Co. S.A.E
- Johns Manville Corporation (Berkshire Hathaway Inc.)
- Kingspan Group Plc
- Knauf Insulation Inc.
- Kuwait Insulating Material Manufacturing Co.
- L’ISOLANTE K-FLEX S.p.A.
- Owens Corning
- PPG Industries Inc.
- Rockwool International A/S
Key Market Segmentation:
The report has segmented the global HVAC insulation market based on material type, product type, application and region.
Breakup by Material Type:
- Glass Wool
- Stone Wool
- Phenolic Foam
- Elastomeric Foam
- Others
Breakup by Product Type:
- Ducts
- Pipes
- Others
Breakup by Application:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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