Fiberglass Duct Wrap Insulation Market: Regional Revenue, Growth Forecast & Emerging Trends To 2024

Global fiberglass duct wrap insulation market is anticipated to depict a CAGR of 6.5% through 2024, having recorded a valuation of USD 1.5 billion in 2017. By 2024, the market is expected to hit a remuneration of USD 2 billion.

fiberglass duct insulation is quickly becoming one of the prominent components to be installed across commercial, industrial, and residential buildings for ventilating, heating, and air-conditioning systems. The growing need for comfort and high economic benefits are the main reasons behind the escalating deployment of fiberglass duct wrap for insulation. The presence of a regulatory framework supporting infrastructure development for enhancing the acoustical environment of buildings is a factor that is further slated to stimulate industry growth over the years ahead. Driven by the shifting trend toward energy efficiency, by the end of 2024.

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Regulations about energy conservation have urged more consumers to take into account the role that ductwork plays in building energy performance. The Building Commissioning Association of U.S. conducted a survey recently and found that over 72% of respondents discovered significant energy leakage in ducts in existing buildings with more than 54% respondents discovering more than 15% leakage being common in U.S. buildings. The survey went on to note that $25 billion are lost in the United States every year due to improperly insulated ducts.

Increasing awareness among consumers about indoor air quality and ventilation has also helped to spur the fiberglass duct wrap insulation market. Application of fiberglass insulation in residential air conditioning and spike in global residential construction has created a strong outlook for the fiberglass duct wrap insulation industry from residential applications.

In most commercial and residential buildings, a proactive stance is being undertaken to maintain the indoor air quality. Air quality maintenance has received a high priority and attention in recent decades, leading to duct work insulation receiving increased importance when it comes to sustainable design and avoiding potential health threats like microbial growth and mold, which often infests in unprotected ducts. Excess moisture can accumulate itself on uninsulated ducts when condensation collects on the duct surface leading to microbial growth and decline in indoor air quality.

However, with the recognition of fiberglass as a potential insulation material that not only maintains constant temperature but also deters mold growth by being an inorganic substance, fiberglass duct wrap insulation market has registered steady growth in the recent years. As per studies conducted by 20 noted laboratories and universities as well as the World Health Organization, the material does not contribute towards indoor air pollution at all.

With energy conservation becoming a pivotal keyword in the present environmental scenario, fiberglass duct wrap insulation market 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 industry growth.

Tighter building codes are now being put into place to minimize energy being lost from buildings, leading to energy wastage and further burden of greenhouse gases emissions on the planet. The application of such codes are driving innovation in the HVAC ductwork market, quite overtly fueling fiberglass duct wrap insulation market trends. Air ducts, which are essentially present on almost all buildings for ventilation are crucial areas which can often be overlooked and take a heavy toll when it comes to energy costs.

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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 industry 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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