MAR­KET FOR GROWTH

The global HVAC in­su­la­tion mar­ket is es­ti­mated to reach $7bn by 2023.

MEP Middle East - - MARKET FOCUS -

Heat­ing, ven­ti­la­tion, and air Con­di­tion­ing (HVAC) sys­tems are re­spon­si­ble for con­trol­ling the am­bi­ent en­vi­ron­ment at all ma­jor end-user sec­tors. HVAC in­su­la­tion pro­vides an ideal so­lu­tion for the ducts and pipes to trans­fer the en­ergy with neg­li­gi­ble amount of losses. HVAC in­su­la­tion 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 grow­ing de­mand for en­ergy ef­fi­cient so­lu­tions. How­ever, the mar­ket is sub­jected to wit­ness hin­drance due to the neg­li­gence and re­luc­tance about mak­ing build­ings en­ergy ef­fi­cient among the in­fra­struc­ture de­vel­op­ers.

Ac­cord­ing to Mar­ket Re­search Fu­ture, the gov­ern­ments of de­vel­oped and de­vel­op­ing na­tions, across all the world, are seen pro­mot­ing and de­vel­op­ing their con­struc­tion sec­tors. The ma­jor emerg­ing na­tions in the Asia Pa­cific re­gion are the ones which are par­tic­u­larly bring­ing numer­ous re­forms and reg­u­la­tions to boost their in­fra­struc­ture and real es­tate mar­ket. Such growth is an­tic­i­pated to aug­ment the mar­ket growth for HVAC in­su­la­tion. The Gov­ern­ment of In­dia re­cently an­nounced some ma­jor pol­icy ini­tia­tives, such as the ap­proval of the Real Es­tate (Reg­u­la­tion and De­vel­op­ment) Act 2016, which highly man­dates the real es­tate de­vel­oper to pro­vide greater trans­parency in project mar­ket­ing

and proper ex­e­cu­tion with the uti­liza­tion of qual­ity con­struc­tion ma­te­rial. More­over, amend­ment to the Be­nami Trans­ac­tions Act, 100% de­duc­tion in prof­its for af­ford­able hous­ing con­struc­tion, change in ar­bi­tra­tion norms for con­struc­tion com­pa­nies, and many other prom­i­nent fac­tors are ex­pected to boost the con­struc­tion in­dus­try in the coun­try. Sim­i­larly, in China, the cen­tral poli­cies on the hous­ing schemes were re­laxed, re­sult­ing in low­er­ing the down pay­ment ra­tio in 2016. Low-priced down pay­ments have en­cour­aged more home­buy­ers to bor­row money from banks. This, in turn, has pro­pelled the con­struc­tion in­dus­try, which ul­ti­mately in­creased de­mand for the HVAC in­su­la­tion across all ma­jor end-use sec­tors in the con­se­cu­tion in­dus­try.

Global HVAC in­su­la­tion mar­ket was val­ued at $4bn in 2016 and is es­ti­mated to reach $7bn by 2023 with a CAGR of 7.42% over the fore­cast pe­riod. The mar­ket in the Mid­dle East & Africa is grow­ing. Due to de­vel­op­ing in­fra­struc­ture, the un­de­vel­oped mar­ket in this re­gion and con­tin­u­ously in­creas­ing de­mand for the prod­uct has driven the growth of the mar­ket. How­ever, the high cost of such tech­nol­ogy and lim­ited in­vest­ment is ex­pected to hin­der the mar­ket growth.

The main in­flu­ences on de­mand for in­su­la­tion ma­te­ri­als are var­i­ous in­ter­na­tional 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. En­ergy costs are widely ac­cepted as the prime mo­ti­va­tor driv­ing growth in in­su­la­tion—both in com­mer­cial and res­i­den­tial applications— though other costs come into it 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, which uses con­sid­er­able amounts of en­ergy in fur­naces and ovens.

Well-in­su­lated res­i­den­tial con­struc­tion is a cost-ef­fi­cient as well as en­ergy-ef­fi­cient choice since it brings down cost gen­er­ated by a heat­ing or cool­ing sys­tem. 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 well-in­su­lated saves inessen­tial wastage and en­ables con­ser­va­tion of heat en­ergy.

In in­sti­tu­tional and com­mer­cial build­ings, sus­tain­abil­ity of con­struc­tion is a com­pre­hen­sive and ex­ceed­ingly im­por tant driv­ing fac­tor. Fun­da­men­tal fea­tures af­fil­i­ated with high-per­for­mance green build­ings, in­clud­ing com­fort of in­hab­i­tants, in­creased prop­erty val­ues, high en­ergy ef­fi­ciency, and dura­bil­ity of ma­te­ri­als, have boosted the pref­er­ence for best prac­tices in con­struc­tion meth­ods and ma­te­ri­als. Some of these best prac­tices in­clude use of more ef­fi­cient in­su­la­tion sys­tems, seam­less mono­lithic roof­ing sys­tems, and air bar­ri­ers. Closed-cell spray polyurethane foam has been known to of­fer en­hanced en­vi­ron­men­tal per­for­mance and life-cy­cle anal­y­sis in ad­di­tion to su­pe­rior con­trol of in­door en­vi­ron­ment and build­ing en­clo­sure.

The key play­ers of global HVAC In­su­la­tion mar­ket are Saint Gobain S.A. (France), PPG In­dus­tries Inc. (U.S.), Owen Corn­ing Cor­po­ra­tion (U.S.), Rock­wool In­ter­na­tional (Den­mark), Ar­ma­cell In­ter­na­tional S.A. (Lux­em­bourg), L’ISOLANTE K-FLEX S.p.A. (Italy), GlassRock (Egypt), Knauf In­su­la­tion (U.S.), Fletcher In­su­la­tion Pty Ltd. (Aus­tralia), Kingspan Group Plc. (Ire­land), and Kuwait In­su­lat­ing Ma­te­rial Man­u­fac­tur­ing Co. (Kuwait). Ref­er­ences: https://www.mar­ke­tre­search­fu­ture.com/re­ports/ hvac-in­su­la­tion-mar­ket-2072 https://www.grand­viewre­search.com/in­dus­try-anal­y­sis/in­su­la­tion-mar­ket

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