According to IMARC Group’s latest report, titled “HVAC Insulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global HVAC insulation market size reached US$ 4.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.0 Billion by 2027, exhibiting a CAGR of 6.57% during 2022-2027.
Heating, ventilation, and air conditioning (HVAC) insulation refers to various systems installed in buildings to control temperature fluctuations for optimal comfort. These solutions offer thermal control and acceptable indoor air quality while improving fire safety, acoustic performance, and energy efficiency of the infrastructure. Apart from this, HVAC insulation helps prevent the risk of overheating, condensation on cold surfaces, and the icing of water vapors. Consequently, it finds applications across various residential and commercial complexes, including airports, hospitals, educational institutions, and malls.
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Market Trends and Drivers:
The increasing consumer awareness regarding the detrimental health effects of using air conditioners and the implementation of stringent regulations by various governments to reduce energy consumption and achieve a sustainable future are primarily driving the global HVAC insulation market growth. Moreover, the ongoing construction activities of green buildings with eco-friendly designs are supplementing the product demand across several establishments, thus acting as another growth-inducing factor. Additionally, the rising adoption of HVAC insulation in the automotive industry to reduce heat accumulation, ensure thermal management, and provide a comfortable environment to passengers and drivers is positively influencing the market growth. Besides this, the availability of advanced HVAC systems, such as dual fuel heat pumps and thermally driven air conditioning, and the advent of the Internet of Things (IoT)-based energy analysis software are creating a positive outlook for the market.
HVAC Insulation Market 2022-2027 Competitive Analysis and Segmentation:
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
Breakup by Product Type:
Breakup by Application:
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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 Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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To view the original version on ABNewswire visit: HVAC Insulation Market to Reach US$ 6.0 Billion by 2027, Impelled by Growing Initiatives for Reducing Energy Consumption
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