The global HVAC insulation market exhibited moderate growth during 2015-2020.
Looking forward, the analyst expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Heating, ventilation and air conditioning (HVAC) insulation helps protect the building against extreme temperature fluctuations and provides a comfortable and healthy environment for inhabitants. It also lowers the internal thermal load, which prevents the risk of overheating and icing of water vapor and condensation on cold surfaces. Consequently, HVAC insulation finds applications in schools, hospitals, airports, and residential and commercial buildings across the globe.
On account of the rising environmental concerns, governing agencies of various countries are implementing stringent regulations to reduce energy consumption. They are also working with international and non-governmental organizations (NGOs) to generate awareness and minimize the environmental impacts of buildings. This, in confluence with the growing construction industry, represents one of the key factors bolstering the global HVAC insulation market growth. Apart from this, HVAC insulation is non-combustible, saves overall operating and maintenance costs, and offers low thermal conductivity. As a result, its demand is escalating, especially in public places like hotels, malls and airports. Apart from this, as it provides a high level of acoustic and thermal performance, it is widely employed in the automotive industry to reduce heat accumulation and enhance fuel economy and passenger comfort. Moreover, with the growing cases of the coronavirus disease (COVID-19), HVAC systems are gaining traction in healthcare facilities to control temperature and humidity levels, purify the air and maintain a sterilized environment. This, along with the escalating demand for energy-efficient data centers, is anticipated to influence the market positively.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global hvac insulation market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, material type, product type and application.
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 United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The report has also analysed the competitive landscape of the market with some of the key players being 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. and Rockwool International A/S. Key Questions Answered in This Report: How has the global HVAC insulation market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global HVAC insulation market? What are the key regional markets? What is the breakup of the market based on the material type? What is the breakup of the market based on the product type? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global HVAC insulation market and who are the key players? What is the degree of competition in the industry?
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