Global HVAC Insulation Market Worth $7.4 Billion by 2027: A Surge in Demand for Energy-Efficient Solutions Drives Growth
The global HVAC Insulation Market size is estimated at USD 5.8 Billion in 2022 and is projected to reach USD 7.4 Billion by 2027, at a CAGR of 5.0% between 2022 and 2027. The demand for HVAC insulation is increasing owing to the growing infrastructure activities and increasing regulation for energy efficiency and implementation of building codes in emerging economies of Asia Pacific.
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Some major players active in the HVAC market are Owens Corning Corporation, Saint-Gobain Isover, Rockwool International, Knauf Group, and Armacell International. These companies have adopted various growth strategies to expand their presence in the market. Acquisition & mergers and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global HVAC Insulation market.
Owens Corning Corporation is one of the global leaders in the manufacturing and distribution of building and industrial materials. The company has organized its operations through three segments: composites, insulations, and roofing. Owens Corning Corporation offers HVAC insulation under its insulations segment. It delivers a broad range of high-quality insulation products. The insulation segment has a geographic presence in the US, Canada, Europe, Asia Pacific, and Latin America. The company insulation segment has 42 manufacturing facilities and operations in 33 countries with about 20,000 employees globally, Owens Corning recorded a net sales in 2021 of USD 8.5 billion. The company is active in acquisition and merger activity. For instance, in August 2022, the company announced the acquisition of Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois.
Saint Gobain designs, manufactures, and distributes innovative solutions to improve the quality of living spaces and reduce environmental impacts. It offers its products for various applications in the construction industry. The company has organized its operations through geographic segments: Americas, Northern Europe, Southern Europe & Middle East & Africa, and Asia Pacific. Saint Gobain offers HVAC insulation products under the subsidiary of Isover. Isover offers its products and insulation solutions for various applications in buildings, transportation, and industries. It has 10,000 employees along with 63 industrial sites and 107 country sites. The company is following inorganic strategy. For instance, in February 2022, Saint-Gobain acquired Rockwool India.
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Another important player in the HVAC market is Rockwool International. The company has organized its operations through two business segments: insulation and systems. Rockwool offers HVAC insulation products, which help protect operations and employees from fire, heat noise, and corrosion. It is a leading manufacturer of stone wool insulation from volcanic rock. Its stone wool insulation products are demanded across the world in residential, commercial, and industrial projects. The company consists of 46 manufacturing sites and has a presence in 39 countries.
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