Market Scenario, Heating, Ventilation, and Air Conditioning (HVAC) systems are primarily responsible for controlling the ambient environment at all major end-user sectors. The HVAC insulation provides an ideal solution for the ducts and pipes to transfer the energy with negligible amount of losses. HVAC insulation improves the energy efficiency, fire safety, and acoustic performance of a building. The global HVAC insulation market is driven by the growth in the global construction industry and growing demand for energy efficient solutions. However, the market is subjected to witness hindrance due to the negligence and reluctance about making buildings energy efficient among the infrastructure developers. , The governments of the developed and developing nations, across all the world, are seen highly promoting and developing their construction sectors. The major emerging nations in the Asia Pacific region are the ones which are particularly bringing numerous reforms and regulations to boost their infrastructure and real estate market. Such growth is anticipated to augment the market growth for HVAC insulation. The Government of India recently announced some major policy initiatives, such as the approval of the Real Estate (Regulation and Development) Act 2016, which highly mandates the real estate developer to provide greater transparency in project marketing and proper execution with the utilization of quality construction material. Moreover, amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many other prominent factors are expected to boost the construction industry in the country. Similarly, in China, the central policies on the housing schemes were relaxed, resulting in lowering the down payment ratio in 2016. Low-priced down payments have encouraged more homebuyers to borrow money from banks. This, in turn, has propelled the construction industry, which ultimately increased demand for the HVAC insulation across all major end-use sectors in the consecution industry. , Infrastructure investment is anticipated to grow in major developed and developing regions over the forecast period. This inves

Market Scenario

Heating, Ventilation, and Air Conditioning (HVAC) systems are primarily responsible for controlling the ambient environment at all major end-user sectors. The HVAC insulation provides an ideal solution for the ducts and pipes to transfer the energy with negligible amount of losses. HVAC insulation improves the energy efficiency, fire safety, and acoustic performance of a building. The global HVAC insulation market is driven by the growth in the global construction industry and growing demand for energy efficient solutions. However, the market is subjected to witness hindrance due to the negligence and reluctance about making buildings energy efficient among the infrastructure developers.

The governments of the developed and developing nations, across all the world, are seen highly promoting and developing their construction sectors. The major emerging nations in the Asia Pacific region are the ones which are particularly bringing numerous reforms and regulations to boost their infrastructure and real estate market. Such growth is anticipated to augment the market growth for HVAC insulation. The Government of India recently announced some major policy initiatives, such as the approval of the Real Estate (Regulation and Development) Act 2016, which highly mandates the real estate developer to provide greater transparency in project marketing and proper execution with the utilization of quality construction material. Moreover, amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many other prominent factors are expected to boost the construction industry in the country. Similarly, in China, the central policies on the housing schemes were relaxed, resulting in lowering the down payment ratio in 2016. Low-priced down payments have encouraged more homebuyers to borrow money from banks. This, in turn, has propelled the construction industry, which ultimately increased demand for the HVAC insulation across all major end-use sectors in the consecution industry.

Infrastructure investment is anticipated to grow in major developed and developing regions over the forecast period. This investment is subjected to the improvement of commodity prices and thus, expected to boost the mining industry as well. The growing demand for energy efficient data centers in the technology sector is further expected to enhance the HVAC insulation market. The growing need for energy efficient construction and maintaining high sustainability of construction is driving the HVAC insulation industry across the globe.

The market, on the basis of type, has been segmented into glass wool, stone wool, phenolic foam, Expanded Polystyrene (EPS) foam, nitrile rubber, Polyisocyanurate (PIR), and others. Glass wool system segment dominated the global HVAC insulation market with a share of 27.28% in 2016, in terms of value. It is projected to witness a CAGR of 8.17% during the forecast period. Glass wool has some dynamic characteristics, which make them an ideal insulation material. Glass wool provides excellent thermal insulation with optimal acoustic performance, possesses unique lightness and are thinner and cost-effective, which comes with 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 is projected to witness the highest CAGR of 7.80% during the forecast period. Polypropylene pipes are used in the HVAC system primarily for chiller installations, radiant heating, cooling systems, data center cooling, geothermal heat pump earth loops, snow-melting, and others. Metal pipes are predominantly used in the large spaces of hotels, IT parks, malls, airports, and for sterilized rooms of pharmaceutical and manufacturing industries. On the basis of application, the HVAC insulation market has been segmented into residential, commercial, and industrial. 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; it is one of the major consumers of the HVAC system. The HVAC system installed in the commercial application is larger in size and provides more power output.

Global HVAC insulation market was valued at USD 4,317.7 Million in 2016 and is estimated to reach USD 7,080.9 Million by 2023 with a CAGR of 7.42% over the forecast period.

Market Segmentation

Global Analysis

The global HVAC insulation market is segmented by region into Americas, Europe, Asia Pacific, and the Middle East & Africa. 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 the European countries brings out the concentration of suppliers and manufacturers in the region. This along with strong private construction growth induces the demand for HVAC insulation. Asia Pacific is the fastest growing region for the global HVAC insulation market. The region is marked with increasing construction activities, along with foreign investment in the real estate development. The region offers lucrative opportunities for the global players, owing to positive economic development and increasing disposable income. This has spiked the growth of the HVAC insulation used in the construction industry in the cooling systems. The market in the Middle East & Africa is growing. Due to developing infrastructure, the undeveloped market in this region and continuously increasing demand for the product has driven the growth of the market. However, the high cost of such technology and limited investment is expected to hinder the market growth.

Key Players

The key players of global HVAC Insulation market are Saint Gobain S.A. (France), PPG Industries Inc. (U.S.), Owen Corning Corporation (U.S.), Rockwool International (Denmark), Armacell International S.A. (Luxembourg), L'ISOLANTE K-FLEX S.p.A. (Italy), GlassRock (Egypt), Knauf Insulation (U.S.), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group Plc. (Ireland), and Kuwait Insulating Material Manufacturing Co. (Kuwait).

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