Hot and cold

The global H VA C in­su­la­tion mar­ket is es­ti­mated to reach $7 bn by 2023, de­spite sus­tain­abil­ity neg­li­gence by de­vel­op­ers

Construction Week - - RESEARCH - WORDS BY RA­JIV PIL­LAI

Heat­ing, ven­ti­lat­ing, and air­con­di­tion­ing (HVAC) sys­tems are re­spon­si­ble for con­trol­ling the am­bi­ent en­vi­ron­ment. HVAC in­su­la­tion is nec­es­sary for ducts and pipes to trans­fer en­ergy with neg­li­gi­ble amount of losses, and along the way, it also im­proves the en­ergy ef­fi­ciency, fire safety, and acous­tic per­for­mance of a build­ing.

The global HVAC in­su­la­tion mar­ket is driven by the growth in the global con­struc­tion in­dus­try and in­creas­ing de­mand for en­er­gy­ef­fi­cient sys­tems. How­ever, the sec­tor is also likely to face hin­drances due to neg­li­gence and re­luc­tance on the part of in­fra­struc­ture de­vel­op­ers to make build­ings greener.

Ac­cord­ing to Mar­ket Re­search Fu­ture, the gov­ern­ments of de­vel­oped and de­vel­op­ing na­tions across all the world are seen to be pro­mot­ing and de­vel­op­ing their re­spec­tive con­struc­tion sec­tors. Ma­jor emerg­ing na­tions in the Asia Pa­cific re­gion are in­tro­duc­ing nu­mer­ous re­forms and reg­u­la­tions to boost their in­fra­struc­ture and real es­tate mar­kets. Such growth is an­tic­i­pated to aug­ment HVAC in­su­la­tion’s mar­ket prospects.

The Govern­ment of In­dia re­cently an­nounced some ma­jor pol­icy ini­tia­tives, such as the ap­proval of the Real Es­tate (Reg­u­la­tion and Devel­op­ment) Act 2016, which man­dates the real es­tate de­vel­oper to pro­vide greater trans­parency in project mar­ket­ing and im­ple­men­ta­tion, with the util­i­sa­tion of qual­ity con­struc­tion ma­te­ri­als.

More­over, as part of an amend­ment to the Be­nami Trans­ac­tions Act, a 100% de­duc­tion in prof­its for af­ford­able hous­ing con­struc­tion has been in­tro­duced, in ad­di­tion to a change in ar­bi­tra­tion norms for con­struc­tion com­pa­nies. Sim­i­larly, in China, cen­tral poli­cies on the hous­ing schemes were re­laxed some years ago, re­sult­ing in low­er­ing the down pay­ment ra­tio in 2016. Low-priced down pay­ments have en­cour­aged more home­buy­ers to bor­row money from banks which, in turn, has pro­pelled the con­struc­tion in­dus­try. Th­ese fac­tors ul­ti­mately in­creased de­mand for HVAC in­su­la­tion across all ma­jor end-use sec­tors in China’s con­struc­tion in­dus­try.

The global HVAC in­su­la­tion mar­ket was val­ued at $4bn in 2016 and is es­ti­mated to reach $7bn by 2023, with a com­pound an­nual growth rate of 7.42% over the fore­cast pe­riod. The mar­ket in the Mid­dle East and Africa re­gion is on the up as well. Due to the need for in­fra­struc­ture, de­mand for HVAC in­su­la­tion prod­ucts has in­creased as well.

How­ever, the high cost of such tech­nol­ogy and limited in­vest­ment is ex­pected to hin­der mar­ket growth.

The main in­flu­ences on de­mand for in­su­la­tion ma­te­ri­als are build­ing codes and reg­u­la­tions. While th­ese reg­u­la­tions act as a cat­a­lyst for growth, they also im­pose lim­i­ta­tions by re­strict­ing the use of cer­tain ma­te­ri­als in spe­cific ap­pli­ca­tions. En­ergy costs are an­other sig­nif­i­cant driver of the con­sump­tion of in­su­la­tion ma­te­ri­als, and are widely ac­cepted as the prime mo­ti­va­tor

driv­ing growth in in­su­la­tion, though other costs play a role as well, par­tic­u­larly in tightly man­aged projects or bud­gets.

This is also true of pro­duc­tion costs, of which en­ergy of­ten con­sti­tutes a large pro­por­tion, es­pe­cially in the glass and min­eral wool mar­ket that uses con­sid­er­able amounts of en­ergy in fur­naces and ovens.

Well-in­su­lated res­i­den­tial con­struc­tion is a cost- and en­ergy- ef­fi­cient choice, since it can sig­nif­i­cantly cut heat­ing or cool­ing costs. In­su­la­tion is re­lated to the in­ter­cep­tion of the pass­ing of ther­mal en­ergy be­tween two ob­jects from an area of higher heat as­sem­blage to one of a lower heat con­cen­tra­tion, thereby pre­serv­ing heat in a spe­cific lay­out. A build­ing that is wellinsu­lated saves inessen­tial wastage and en­cour­ages the con­ser­va­tion of heat en­ergy.

In in­sti­tu­tional and com­mer­cial build­ings, the sus­tain­abil­ity of con­struc­tion is a com­pre­hen­sive and ex­ceed­ingly im­por­tant driv­ing fac­tor. Fun­da­men­tal fea­tures af­fil­i­ated with high- per­for­mance green build­ings in­clude the com­fort of in­hab­i­tants, in­creased prop­erty val­ues, high en­ergy ef­fi­ciency, and dura­bil­ity of ma­te­ri­als. Some of th­ese best prac­tices in­clude the use of more ef­fi­cient in­su­la­tion sys­tems, seam­less mono­lithic roof­ing sys­tems, and air bar­ri­ers.

In ad­di­tion, closed- cell spray polyurethane foam has been known as a prod­uct that can of­fer en­hanced en­vi­ron­men­tal per­for­mance and life- cy­cle anal­y­sis, in ad­di­tion to su­pe­rior con­trol of in­door en­vi­ron­ment and build­ing en­clo­sure for op­er­a­tors.

En­er­getic growth: The Mid­dle East and Africa’s HVAC in­su­la­tion mar­ket will grow amid grow­ing de­mand for in­fra­struc­ture projects.

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