Fiberglass Duct Wrap Insulation Market: Worldwide Analysis, Opportunities and Forecast To 2024
Fiberglass Duct Wrap Insulation Market size is set to exceed USD 2 billion by 2024. Fiberglass duct wrap insulation is strongly supported by various applications of HVAC systems like air conditioning, cooling, temperature humidity control, air filtration, pressure control, among a few parameters it offers. An efficient, power-saving operativity of the fiberglass duct wraps lies in the temperature range spanning from 400 F to 2500 F or 400 C to 2100 C.
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Fiberglass duct wrap insulating products are essentially deployed in outer surfaces of air conditioners, ventilation and other metal heating ducts to cut down on heat loss and energy. To pledge and work towards energy saving and eco-friendly directives, the governments have backed and employed initiatives to minimize the power consumption of HVAC devices. To talk of an instance, the government of U.S.A. and its Department of Energy are rooting for environment friendly and organic insulation materials in the heating, cooling and ventilation equipment to achieve low usage of power or electricity.
Large infrastructural construction assignments for shopping malls, cafes, super and hypermarkets, schools, colleges, warehouses, cafes, and many others have decently contributed to the demand for fiberglass insulation. A statistical study on the market suggests the fiberglass duct wrap insulation industry size from commercial & industrial sectors exceeded 60% of the total share in 2017
Commercial offices across hot and humid countries with soaring high temperatures are prime contributors to the growing demand and persistent use of HVAC systems and equipment mainly for air cooling, moisture control and thermal comforting.
Fiberglass duct wrap inclusion with facings are required for fungi and fire resistance, reduction of loss of heat, eradication of moisture condensation on the cool duct surfaces. These advantages will further bolster the growth of the HVAC market.
With the addition of facings, the fiberglass duct wrap insulation market can look forward to achieving over 6% CAGR up to 2024. These materials are being installed across distinct end use industries to achieve energy efficiency.
Fiberglass duct wrap insulation industry undeniably stands to gain commendable returns in the ensuing years. According to the US Department of Energy, in an average American home, 50% to 70% of energy is used up for heating and cooling purposes. Using effective insulation and air sealing can save up to 20% of energy costs, which can become a substantial saving for residential, commercial or industrial buildings – a fact that is certain to contribute toward fiberglass duct wrap insulation market growth.
Encapsulating the sealed metal ducts with fiberglass duct wrap insulation materials for controlled or no heat transfer and moisture condensation is an enhancer to the building efficiency, driving the demand for the material.
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Some Point from Table of Contents:
Chapter 4. Fiberglass Duct Wrap Insulation Market, By Type
4.1. Global fiberglass duct wrap insulation market share by type, 2017 & 2024
4.2. With facings
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013–2024
4.3. Without facings
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013–2024
Chapter 5. Fiberglass Duct Wrap Insulation Market, By Application
5.1. Global fiberglass duct wrap insulation market share by application, 2017 & 2024
5.2. Residential
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013–2024
5.2.3. New residential
5.2.3.1. Market estimates and forecast, 2013 - 2024
5.2.3.2. Market estimates and forecast, by region, 2013–2024
5.2.4. Improvement & repair
5.2.4.1. Market estimates and forecast, 2013 - 2024
5.2.4.2. Market estimates and forecast, by region, 2013–2024
5.3. Commercial & industrial
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013–2024
5.3.3. New commercial & industrial
5.3.3.1. Market estimates and forecast, 2013 - 2024
5.3.3.2. Market estimates and forecast, by region, 2013–2024
5.3.4. Improvement & repair
5.3.4.1. Market estimates and forecast, 2013 - 2024
5.3.4.2. Market estimates and forecast, by region, 2013–2024
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