HVAC and Fire Protection Insulation Market Overview
Heating, ventilation, and air condition (HVAC) and fire protection insulation systems are a necessity with respect to job hazards and risks posed to personnel. HVAC systems can reduce noise levels and absorb vibrations generated by the system. Insulation on HVAC and fire protection systems can provide it with an additional layer of protection against extreme temperatures. The global HVAC and fire protection insulation market is anticipated to accumulate a huge windfall over the forecast period (2022-2030), according to Market Research Future (MRFR).
The global market is driven by increasing need for fire safety measures to be implemented in industrial, residential, and commercial buildings. Utilization of the equipment is likely to increase owing to development of smart cities and green buildings. Energy-efficient schemes and rapid construction activity can aid the trend in the coming years. High disposable income levels of customers and capacity of providing optimal thermal comfort in commercial and residential buildings can drive the global HVAC and fire protection insulation market. Stringent government laws for improving building performance can facilitate market growth.
Rise in infrastructure spending and technological advances such as energy analysis software and dual fuel heat pump in HVAC can propel market growth in a positive direction. The market is characterized by new product launches for controlling indoor environment in offices, homes, and industrial premises.
But fluctuations in raw material prices can hamper market growth.
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COVID-19 Impact:
The COVID-19 pandemic has effectively shutdown all operations of the industry globally. Production is on a downward spiral with streamlining of operations being impossible owing to movement restrictions. But the pandemic has proven to be a lucrative opportunity for the HVAC and fire protection insulation industry owing to environments required in maintaining an ultra-low temperature for delivering of vaccines to hospitals and other vaccination centers. Integration of HEPA filters in HVAC units for keeping humidity stable during winters can ensure its implementation.
Industry Trends:
Green buildings are likely to be in development due to government initiatives and schemes. Consumers concerned about the environmental impact of buildings and installation of HVAC systems are willing to shell out extra for fireproof and insulation of HVAC and fire-retardant systems. Environmental credits for green buildings as well as improvements in materials are likely to drive the implementation in commercial and industrial buildings. Fire resistant thermal insulation material and formulation of new bonding agents to ensure structural designs are likely to be major trends in the coming years.
Segmentation:
By type, the global HVAC and fire protection insulation market has been segmented into plastic foam, glass wool, stone wool, and others. The glass wool segment is estimated to garner huge demand in the market owing low product cost and design implementation. It is used in acoustic and thermal products for contributing to building safety. On the other hand, the plastic foam segment is set to enjoy massive growth due to use of polymers such as phenolic foam, polyisocyanurate, polystyrene, and polyurethane. It finds application in rigid boards due to its lightweight nature and high moisture resistance.
By application, the global HVAC and fire protection insulation market has been segmented into pipe insulation, ventilation duct insulation, and others. The ventilation duct insulation segment is set to garner immense demand in the market owing to huge demand for regulating indoor environments. Cold rooms required for storing vaccines need rooms to be leak-free and insulated to protect itself against fire hazards.
By end user, the HVAC and fire protection insulation market has been segmented into industrial, commercial, and residential. The commercial segment is touted to dominate the market till the end of the forecast period. This is attributed to use of large HVAC systems in offices, malls, and education centers. On the other hand, the residential segment is deemed to capture a significant portion of the market owing to preference for comfort and convenience in middle class homes. Rise in foreign direct investments in the construction sector and relaxation of regulations for funding can drive the segment growth. Lowering of greenhouse gas emissions by reducing heating or air-conditioning infrastructure can bode well for the segment.
Regional Segmentation:
The HVAC and fire protection insulation market covers regions of North America, Europe, and Asia Pacific.
The Asia Pacific market is expected to register a stellar growth rate during the assessment period owing to high construction activity in Australia, India, China, and Vietnam. Improvement in economic growth, development of smart buildings, and plans for connected systems can drive the regional demand for HVAC and fire protection insulation. Rising population and robust industrialization can bolster market growth.
Europe is estimated to be lucrative for the global market owing to environmental awareness and stringent emission norms in Germany, France, the U.K., and Italy. Building safety codes implemented in countries in the EU and demand for energy-efficient insulation materials can drive the regional market demand. Steps taken by governments to lower heat consumption and thermo-modernization programs for replacing legacy HVAC systems can favor the market.
Competitive Analysis:
The HVAC and fire protection insulation market is experiencing several strategic implementations such as expansion, collaboration, mergers, and acquisitions.
Key players involved in the market are Berkshire Hathaway, Inc., Kingspan Group, Rockwell International A/S, Beijing New Building Material (Group) Co., Ltd., Armacell, Knauf Insulation, Saint-Gobain, PPG, Owens Corning, Fletcher Insulation, L'ISOLANTE K-FLEX S.p.A., GAF, BASF SE, and Broad Group.
Industry News
Kingspan LLC has launched the KDuct, a ductwork system that is preclad and preinsulated and highly ideal for risers, plantrooms, and other applications.
Protection from Fire Safety Hazards to Trigger Global HVAC and Fire Protection Insulation Market Growth
The global HVAC and fire protection insulation market is expected to gain momentum in the coming years, according to the latest report by Market Research Future (MRFR). The need for thermal insulation for saving on energy expenses can lead to its huge demand. Adherence to latest regulations and building codes can bode well for the market and protect owners from fire hazards. Energy efficiency and acoustic performance of buildings can play a vital role in implementation of these applications.
Browse In-depth Market Research Report (155 pages) on HVAC and Fire Protection Insulation
https://www.marketresearchfuture.com/reports/hvac-fire-protection-insulation-market-10413
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