Fiberglass Duct Wrap Insulation Market Analysis

Fiberglass Duct Wrap Insulation Market Analysis

Fiberglass duct wrap insulation with facings dominated the industry share accounting for over 65% in 2017. Improved vapor retarding properties along with efficient protection of HVAC components have enhanced the facing materials demand. Polypropylene and aluminium foil are among the commonly used materials for facings. Extended durability, ease in handling and enhanced moisture control are among key properties driving the industry demand.
 

Fiberglass duct wrap insulation market without facings type will witness growth around 6% up to 2024. Rising adoption of unfaced products due to its multipurpose applications in the construction industry will propel the product demand. High temperature resistance up to 232 ^OC (450 ^OF) along with enhanced condensation control provides a positive outlook for the industry growth. Moreover, reduced costs due to absence of facings provide a competitive edge for product scope.
 

Fiberglass duct wrap insulation market from residential application is expected to generate over 350 million sq. meters by 2024. Strong outlook in residential ventilation and air conditioning coupled with growth in global residential construction will propel the industry growth. Increasing government investments in residential projects along with favourable policies on housing schemes will support the product demand.
 

Commercial & industrial applications dominated the industry share accounting for more than 60% in 2017. Robust growth in the commercial construction industry supported by rapid urbanization has enhanced the product penetration. In addition, supportive architecture for commercial buildings including centralized air conditioning will propel the fiberglass duct wrap insulation market growth.
 

North America fiberglass duct wrap insulation market was worth more than USD 600 million in 2017. Higher adoption of glass wool in the region due to its rapid commercialization and abundant availability will support the industry demand. Shifting preference for sustainable solutions including use of recycled glass will propel the product demand. Government initiatives to support commercial as well as residential constructions will drive the business growth.
 

Asia Pacific fiberglass duct wrap insulation market is anticipated to witness CAGR over 6% up to 2024. Significant growth in the regional construction output due to supportive regulations and enhancing economy will drive the industry growth. Growing construction of manufacturing facilities due to favourable socio-economic conditions will propel the industry demand. Increasing preference for energy efficient HVAC systems to reduce the energy cost and enhance eco-friendly functions has further stimulated the fiberglass duct wrap insulation market demand.