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Global HVAC insulation market set to reach $5.2bn by 2021

by Rajiv Ravindran Pillai on Dec 7, 2017


Fiberglass, plastic foam, and stone wool are the major materials used as insulation for HVAC.
Fiberglass, plastic foam, and stone wool are the major materials used as insulation for HVAC.

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The future of the HVAC insulation market is on the rise with opportunities in the residential and non-residential segments growing, according to a market report published by Lucintel,

The global HVAC insulation market is expected to reach an estimated $5.2bn by 2021 and is forecast to grow at a CAGR of 5.2% from 2016 to 2021. The major drivers of growth for this market are the growth in HVAC system and government regulations to increase energy efficiency.

In this market, fiberglass, plastic foam, and stone wool are the major materials used as insulation for HVAC. Lucintel forecasts that the fiberglass material segment is likely to experience the highest growth during the forecast period due to its easy availability, environment friendly, and better flame retardants properties. On the basis of its comprehensive research, Lucintel predicts the duct component segment is expected to show above average growth during the forecast period.

Within the HVAC insulation market, residential end use segment is expected to remain the largest market by value and volume. Growth in demand for HVAC system and increasing awareness of energy efficiency are the major factors which would spur growth for this segment over the forecast period.

Talking specifically about insulation, Tomasz Kulik, global technical and marketing manager – insulation, Hira Industries, says: “Ducts and generally ventilation and A/C systems supply fresh air at a certain temperature. This temperature is lower or higher comparing to the ambient air. This all means heating or cooling process, where energy exchange is a key factor. This energy exchange must be done in particular areas, so heat loss or gain on the way should be minimised as much as possible.  If system will be losing energy, we would need more powerful and greater equipment and ultimately energy consumption will be higher.

“Using proper thermal insulation we can increase efficiency of the air-conditioning, heating and cooling systems. Sometimes, it can lead to the reduction of the power of units and reduction of initial investment for the equipment.”

The Middle East & Africa is estimated to witness high growth during the forecast period between 2016 and 2021. The demand in the Middle East & Africa region is strengthened by the emerging markets, namely, UAE and Saudi Arabia.

The emerging trends that have a direct impact on the dynamics of the industry include increasing demand for high-temperature insulation and the growing use of eco-friendly materials. Saint-Gobain, Kingspan Group, Owens Corning, Knauf Insulation, and Johns Manville are among the major suppliers of HVAC insulation. Some of these companies are also pursuing mergers and acquisitions as strategic initiatives for driving growth.

Tomas adds: “Middle East is a special place when it comes to AC and ventilation systems. Most of the buildings have much developed systems for temperature and air quality control. In this environment, type and quality of insulation can bring in money savings, increase technical life of the system and provide hygienic circumstances. Nowadays, we have a good selection of modern thermo-insulation materials which are replacing old technologies.”

However, Tomas says: “Unfortunately, the current situation is as follows: consultants are looking only for condensation control and not interested in energy savings. Investing more money in insulation thickness initially, may bring about a lot of savings in the future.”



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