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Fiberglass Duct Wrap Insulation Market to witness remarkable proceeds over 2019-2024

Author : Rahul Varpe | Published Date : 2019-04-18 

Global Market Insights provides a detailed overview of Fiberglass Duct Wrap Insulation market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Fiberglass Duct Wrap Insulation market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Fiberglass duct wrap insulation market is highly influenced by surging demand for heating and cooling systems from the commercial as well as residential application. Construction industry growth, rapid industrialization and changing climatic conditions are among the major factors driving industry growth.

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The emerging countries are concentrating to prevent losses by the installation of insulating material in infrastructures such as residential housing, commercial building, and industrial application are propelling fiberglass duct wrap insulation market share.

Fiberglass duct wrap insulation market is expected to generate strong demand owing to high operating temperature range from 400 F to 2500 F i.e. 400 C to 2100 C. It is highly effective when installed over sealed sheet metal ducts prevent heat transfer along with controlling moisture condensation. Thereby, these benefiting superior material property is anticipated to propel market demand during the forecast period.

Asia Pacific fiberglass duct wrap insulation market is expected to generate around USD 700 million by 2024. Growing economy, rapid industrialization and rising expenditure of commercial infrastructure are the among major drivers fueling demand for fiberglass duct insulation market. The regional growth is mainly driven by China, India, and Japan due to increasing demand for HVAC systems in commercial spaces fostering product demand.

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With facings fiberglass duct wrap insulation market is expected to generate over 6% CAGR up to 2024. Increasing demand for with facings type owing to fire resistance property, fungi resistance along with insulating benefits in reducing heat losses, eliminates condensation in cold duct surfaces are key factors boosting market share.

Commercial & industrial fiberglass duct wrap insulation market contributed more than 60% industry share in 2017. Rising infrastructure development including warehouses, supermarkets & hypermarkets, schools, colleges, shopping malls, cafe, and hotels are fueling product demand during forecast time frame. Hotter climate countries and rising global temperature are among key aspects stimulating usage of HVAC systems & components for thermal comforts assertively supporting product demand.

Global fiberglass duct insulation market share is highly fragmented in nature due to the presence of internal as well as local manufacturers offering wide product range. Manson, Lamtec Corporation, Thermaire, GAF, Twiga, and Manson are major companies are focusing on strategic acquisition and collaboration to strengthen their market position.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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