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Asia Pacific Fiberglass Duct Wrap Insulation Market is estimated to growth significantly by 2024

Author : Rahul Varpe | Published Date : 2019-10-02 

The Fiberglass Duct Wrap Insulation market study drafted by Global Market Insights delivers a concise outline regarding the potential factors likely to drive the revenue growth of this industry. The report delivers valuable insights on market revenue, SWOT Analysis, market share, profit estimation and regional landscape of this business vertical. Moreover, the report focuses on significant growth factors and obstacles accepted by market leaders in the Fiberglass Duct Wrap Insulation market.

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Fiberglass Duct Wrap Insulation Market in Asia Pacific 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 wrap insulation industry. The regional growth is mainly driven by China, India, and Japan due to increasing demand for HVAC systems in commercial spaces fostering product demand.

Inclination towards energy conservative initiatives by the governments to reduce the overall energy consumption by the HVAC equipment will support the industry demand. For instance, U.S. government and DoE are focusing on eco-friendly insulating materials in HVAC equipment components to prevent higher electricity usage is expected to fuel Fiberglass Duct Wrap Insulation Market revenue during forecast time frame.

Fiberglass Duct Wrap Insulation Market, By Type

  • With facings
  • Without facings

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Fiberglass Duct Wrap Insulation Market, By Application:

  • Residential
  • Commercial

Commercial application of HVAC to provide thermal comfort, indoor air quality, and temperature control. Moreover, it also has key application includes humidity control, filtration, fresh air, and pressure control. To prevent heat loss during heating and cooling operation need better exterior insulating wrap positively supporting product demand. HVAC industry growth owing to increasing production facility expansion of manufacturing companies are fostering fiberglass duct wrap insulation 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.

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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. Some of the major companies in fiberglass duct wrap insulation market are:

  • Manson
  • Lamtec Corporation
  • Thermaire
  • GAF
  • Twiga
  • Manson
  • Owens Corning
  • Knauf
  • CertainTeed Corporation
  • Johns Manville

These major companies are focusing on strategic acquisition and collaboration to strengthen their market position.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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