HVAC Insulation Market Opportunities, Revenue, Size, Share, Material Type, Component, Application Competitive Analysis, Market Demand and Growth by 2023

HVAC insulation market is expected to witness an extensive growth, during the forecast period. Skyrocketing growth of construction industry, implementation of stringent regulations to minimize the energy consumption and growing demand of HVAC systems are some of the major factors, positively influencing the growth of the market. HVAC insulation refers to a system that combines three major functions: heating, ventilation and conditioning. Such systems help in regulating the heat that is dissipated through convection, conduction and radiation and deliver thermal properties such as fortification against sound, fire, and physical impact.

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Growing construction activities, surge in the demand of HVAC equipment and increasing focus towards energy efficiency, are some of the major factors positively impacting the growth of HVAC insulation market. Favourable regulatory framework across geographies, such as new building codes in the European Union, which necessitate the augmented insulation practice to diminish energy consumption, have also supported HVAC insulation manufacturers to expand their foothold in the market. Growing infrastructure expenditure in emerging economies of Asia-Pacific such as India, China, Indonesia and Thailand, are further expected to bolster the growth of the HVAC insulation market, during the forecast period. Some of the recent trends observed in the global market include soaring demand for high-temperature insulation and the increasing utilization of biodegradable materials.

APAC has been the largest HVAC insulation market due to significant growth in the building construction infrastructure, specifically in China and India. India is on the cusp of global governance as it rushes forward as an emerging market. In this context, country’s economy needs to acclimatize to recent, pioneering renovations that are entrenched in technological innovations across several industries. Real-estate is one of the key industry verticals that require to ring in technological advancement. Some of the key factors fuelling the expansion of real-estate industry in the country include rapid urbanisation, a growing young demographic and mass migration to cities. Innovations in building design along with increasing focus on energy efficiency for buildings have backed the growth of HVAC insulation market in the region.

North America is the second-largest HVAC insulation market, across geographies. Growth of this market in the region is attributed to the rising construction industry and stringent government protocols to boost energy efficiency. RoW is expected to be the fastest growing region strengthened by the growing markets, namely, UAE and Saudi Arabia. Upcoming building infrastructure projects in UAE, and soaring energy efficiency awareness in UAE and Saudi Arabia, are likely to bolster the growth of this market in RoW.

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Some of the key players operating in the global HVAC insulation market include CertainTeed Corporation, PPG Industries Inc., Owens Corning Corporation, Rockwool International A/S, Armacell International S.A., Johns Manville Corporation, Xiamen Goot Advanced Material Co., L'isolante K-Flex S.P.A., Glassrock Insulation Co S.A., and Knauf Insulation.

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