Title: Fiberglass Duct Wrap Insulation Market research report by 2018 to 2024
1Fiberglass Duct Wrap Insulation Market growth
outlook with industry review and forecasts
2018-2024 Global Market Insights, Inc.
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2- Global Market Scenario of Construction Industry
- Fiberglass Duct Wrap Insulation Market size is
estimated to exceed USD 2 billion by 2024
according to a new research report by Global
Market Insights, Inc. - Strong outlook in external insulation of
residential and commercial heating, dual
temperature and air conditioning components will
propel the fiberglass duct wrap insulation market
size. - Enhanced thermal resistance leading to lower
energy usage and improved system performance are
among the key properties driving the product
penetration. In addition, improved comfort
control, easy installation, flexibility and
condensation controlling features will offer a
positive outlook for industry growth. - Residential application is the fastest growing
segment in the fiberglass duct wrap insulation
market registering over 350 million square meters
by 2024. Government initiatives and supportive
policies on development of residential
construction will drive the industry growth. - Innovations in production process and increasing
RD investments are among major factors
supporting the industry demand.
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- Stringent government regulations on essential and
optimum fabrication on residential and commercial
HVAC components to improve energy efficiency will
propel the fiberglass duct wrap insulation market
demand. - Moreover, several standards enacted for the
product installation by government and
institutional bodies will support the product
penetration. Rising demand for insulating
products along with technological advancements
and product innovations will fuel the industry
growth. - Growth in global construction industry due to
rapid urbanization and changing lifestyles will
propel the product demand. Increasing product
adoption in commercial as well as residential
applications is expected to propel the fiberglass
duct wrap insulation market growth. - Improved noise control indoor air quality, high
energy efficiency along with competitive costs
than non-fibrous glass solutions are among key
properties stimulating the industry growth.
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5- Shifting preference for duct-based HVAC equipment
including unitary air conditioning particularly
for the commercial buildings will support the
industry demand. Rising awareness for energy
conservation and sustainable solutions among
builders and contractors has stimulated the
product scope. - Increasing raw material costs will have a direct
impact on the fiberglass duct wrap insulation
price trend. However, limited applicability may
hamper the product scope particularly in
components conveying solids or corrosive gases
and kitchen exhaust applications.
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6- North America fiberglass duct wrap insulation
market dominated the revenue share valuing over
USD 600 million in 2017. - Asia Pacific is anticipated to witness growth
over 6 from 2018 to 2024. Growing population
along with rising awareness for energy
conservation and reducing energy cost are among
key properties driving the industry demand.
- Owens Corning, Johns Manville, CertainTeed and
Knauf are among major fiberglass duct wrap
insulation manufacturers. Global industry share
is highly competitive due to presence of both
multinational companies and regional players. New
product launches, mergers and acquisitions,
production capacity expansion, RD investments
and collaborations are among major strategies
adopted by fiberglass duct wrap insulation market
participants. Other considerable companies
include Manson, Twiga, Mag-Isover, Frost King and
Lamtec Corporation.
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Insulation Market_at_https//www.gminsights.com/indu
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