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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global HVAC Insulation Market Outlook

The global HVAC insulation market size reached approximately USD 4.87 billion in 2023. The market is projected to grow at a CAGR of 5.9% between 2024 and 2032, reaching a value of around USD 8.18 billion by 2032.

Global HVAC Insulation Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 4.87
Market Size 2032 USD Billion 8.18
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 5.9%
CAGR 2024-2032 - Market by Region Asia Pacific 7.6%
CAGR 2024-2032 - Market by Country India 8.0%
CAGR 2024-2032 - Market by Country Canada 6.9%
CAGR 2024-2032 - Market by Component Pipes 7.3%
CAGR 2024-2032 - Market by Material Type Phenolic Foam 6.7%

Key Trends in the Market

HVAC refers to the heating, ventilation, and air conditioning system in a house or official building. It is used to maintain an optimal indoor temperature in all climates. HVAC insulation is a crucial component in HVAC systems and refers to the process of using insulating materials to prevent the loss or gain of heat within the system. It helps improve the overall energy efficiency of the HVAC system.

  • One of the prominent HVAC insulation market trends includes the increasing demand for energy-efficient solutions. As concerns over climate change continue to rise, both consumers and regulatory bodies are pushing for efficient HVAC systems.
  • Advancements in insulation materials and manufacturing processes are positively influencing the HVAC insulation market growth. Manufacturers are continuously developing new materials with improved thermal properties, lighter weights, and easier installation processes.
  • The growing urban construction and smart city development plans around the world, particularly in emerging economies, provide positive opportunities for the market. As more buildings and infrastructure are constructed, there is a substantial increase in HVAC systems, which simultaneously increases the HVAC insulation market demand. Rapid urbanisation, population growth, and increased disposable incomes are also expanding the market for HVAC insulation.

Market Analysis

Based on component, the market is bifurcated into pipes and ducts. The global HVAC insulation market segmentation, according to the material type, is divided into glass wool, elastomeric foam, phenolic foam, and stone wool, among others. Based on application, the market division includes residential, commercial, and industrial. The major regional markets for HVAC insulation are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

CAGR 2024-2032 - Market by Country
India 8.0%
Canada 6.9%
China 6.7%
USA 5.9%
Australia 5.2%
Japan 4.5%
UK XX%
Germany XX%
France XX%
Italy XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global HVAC insulation market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

  • Owens Corning Corporation 
  • Rockwool Group 
  • Armacell International S.A. 
  • Compagnie de Saint-Gobain S.A.
  • Knauf Insulation, Inc. 
  • L'isolante K-Flex S.p.A 
  • Johns Manville Corporation 
  • Fletcher Building Group
  • Others

Market Share by Material Type

Glass wool is expected to be in high demand during the forecast period and contribute a large portion of the global HVAC insulation market share. The popularity of glass wool can be attributed to its excellent thermal insulation properties, which not only help conserve energy but also ensure the safety of workers by shielding them from hot surfaces. Additionally, glass wool is highly effective in reducing noise pollution, making it an ideal choice for creating a safer and more peaceful working environment in noisy settings.

Market Share by Application

According to the global HVAC insulation market analysis, the demand for HVAC insulation in commercial applications is expected to increase in the coming years. The growing global economy has spurred significant development in the commercial sector. As businesses flourish, there is a rise in the construction and renovation of commercial properties. These structures often incorporate larger and more sophisticated HVAC systems to cater to the different internal conditions.

Competitive Landscape

Owens Corning Corporation is a global company that specialises in the production of building materials and composite solutions. Founded in 1938, the company is headquartered in Ohio, the United States. Owens Corning has established itself as a prominent player in the construction and industrial sectors.

Rockwool Group is a leading global manufacturer of innovative insulation and other sustainable building materials. Established in 1937 in Denmark, the company has grown into a multinational corporation with a strong presence in various regions worldwide. Rockwool specialises in producing stone wool insulation, a versatile material made from volcanic rock and recycled materials.

Armacell International S.A. is a global leader in the development and manufacturing of high-performance foams and insulation materials. Founded in 1954, the company has its headquarters in Luxembourg and operates in various regions worldwide. With a strong focus on innovation and sustainability, Armacell’s expertise lies in the production of flexible and elastomeric foam materials.

Other global HVAC insulation market players include Compagnie de Saint-Gobain S.A., Knauf Insulation, Inc., L'isolante K-Flex S.p.A, Johns Manville Corporation, and Fletcher Building Group, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Material Type
  • Application
  • Region
Breakup by Component
  • Pipes
  • Ducts
Breakup by Material Type
  • Glass Wool
  • Elastomeric Foam
  • Phenolic Foam
  • Stone Wool
  • Others
Breakup by Application
  • Residential
  • Commercial
  • Industrial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Owens Corning Corporation 
  • Rockwool Group 
  • Armacell International S.A. 
  • Compagnie de Saint-Gobain S.A.
  • Knauf Insulation, Inc. 
  • L'isolante K-Flex S.p.A 
  • Johns Manville Corporation 
  • Fletcher Building Group
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 4.87 billion.

The market is projected to grow at a CAGR of 5.9% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 8.18 billion by 2032.

The major market drivers are the increasing adoption of HVAC systems to tackle climate change and the development of new materials and manufacturing processes by key players.

The market is guided by the increasing urban constructions and smart city development activities and advancements in in insulation materials.

The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major applications of the product include residential, commercial, and industrial.

The key players in the market are Owens Corning Corporation, Rockwool Group, Armacell International S.A., Compagnie de Saint-Gobain S.A., Knauf Insulation, Inc., L'isolante K-Flex S.p.A, Johns Manville Corporation, and Fletcher Building Group, among others.

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+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

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