Report Ocean publicize new report on the North America and GCC HVAC insulation wraps and tapes market. The North America and GCC HVAC insulation wraps and tapes market report contain numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the North America and GCC HVAC insulation wraps and tapes market growth. Additionally, the database analyzes and estimates the North America and GCC HVAC insulation wraps and tapes market both globally and regionally.
North America and GCC HVAC insulation wraps and tapes market is estimated to reach 955 million square meters by the end of 2024 and is expected to register a CAGR of 6.2% during the market review period of 2017 to 2024.
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The technology or system that maintains the inside temperature in buildings is known as Heat, Ventilation, and Air Conditioning alias HVAC. HVAC systems offer thermal comfort by providing heating and cooling. For the effective functioning of the HVAC system, the insulation and sealing materials in the system are of utmost importance. Some of the important components that complete an HVAC system include ducts, insulations, and sealing components, among others. These components help the functioning of HVAC systems by minimizing heat losses. This report provides qualitative and quantitative insights into the latterly mentioned HVAC components. The report is divided into two sections viz. wraps and tapes used in HVAC insulation and adhesives and sealants used in HVAC systems.
The wraps and tapes and bonding products, such as duct liner adhesives and duct sealants, are the accessories accustomed to optimizing the energy consumption of HVAC systems by enhancing the R-value. Wraps and sheets within the HVAC systems help in preventing heat losses and flow of air through the duct uniformly, whereas, bonding product ensures zero leakages within the HVAC systems that help in optimizing the energy consumption and helps in getting further LEED (Leadership in Energy and Environmental Design) credits in new constructions.
Wraps & tapes are segmented into aluminum foil laminates, polyethylene duct wraps, insulation jacketing tapes, multi-ply membranes, metal duct tapes, fiberglass duct tapes, aluminum insulation tapes, PVC tapes, corrosion control tapes, and reflective tapes, among others. The HVAC adhesives and sealants are divided into PVC adhesives, polyurethane foam adhesives, water-based adhesives, and duct sealants, among others.
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North America and GCC HVAC insulation wraps and tapes market is estimated to reach 955 million square meters by the end of 2024 and is expected to register a CAGR of 6.2% during the market review period of 2017 to 2024. In terms of volume, the North America and GCC HVAC insulation bonding products, such as adhesives and sealants market is expected to be pegged at 456 KT by the end of 2024, registering a CAGR of 6.0%.
Some of the various market drivers and trends associated with the growth of the HVAC insulation market in the target regions include burgeoning construction activities with favorable economic conditions in both the regions. The housing market crisis in the U.S. is regaining its stability and is projected to grow substantially in the years to come, registering a high growth since 2007 of more than 6%.
In terms of revenue growth, the U.S. residential, commercial, infrastructure, and industrial and institutional construction are expected to grow at the CAGRs of ~6.6%, 6.8%, 4.1%, 6.9%, and 4.4%, respectively, in the coming years supported by urbanization and government initiatives, such as Manufacturing Extension Partnership (MEP) and Telehealth Network Grant Program (TNGP), among others. The raining oil prices in the middle eastern region along with upcoming mega-events, such as EXPO 2020 in Dubai, FIFA 2022 in Qatar, and vast investments for building mega-city in Saudi Arabia have kick-started the construction sector in the GCC, offering substantial market opportunities for HVAC insulation materials in the region.
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Regional Analysis Regionally, the HVAC insulation market is divided into two main regions, namely North America and GCC. North America dominated the HVAC insulation market in terms of consumption. GCC will be growing at a rapid pace in terms of value and volume, owing to the burgeoning construction activities in countries, such as the UAE, Saudi Arabia, and Qatar. However, North America is anticipated to retain its dominance throughout the forecast period. In terms of value, the North American HVAC insulation wraps and tapes market is anticipated to reach USD 1,518.0 million by the end of 2024, registering a CAGR of 6.4% through the forecast period.
Segmentation The North America and GCC HVAC insulation market is segmented into type, application, and region. On the basis of type, the HVAC insulation market is segmented into wraps, tapes, and adhesives and sealants. Each type is further sub-segmented based on different types of products. HVAC wraps are further sub-divided into aluminum foil laminate, multi-ply membrane, insulation jacketing tapes, and polyethylene duct wrap, among others. HVAC tapes are sub-segmented into metal duct tape, fiberglass duct tape, aluminum insulation tape, corrosion control tapes, reflective tapes, and PVC tapes, among others.
Adhesives and sealants are sub-divided into PVC adhesives, polystyrene foam adhesives, and water-based insulation adhesives, among others. On the basis of application, the market is segmented into institutions, hospitals, office buildings, malls, airports, food & beverages, residential buildings, general commercial, warehouses, and lodging, among others. Based on countries, the North America and GCC market is divided into the U.S., Canada, Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.
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Key Players Some of the key players operating in the North America & GCC HVAC insulation market are Design Polymerics, Duro Dyne, Elgen Manufacturing, CL Ward and Family, Ductmate, Hardcast (Carlisle), Polymer Adhesives, RCD Corporation, ITW Polymers Sealants North America, Henkel Corporation, Pidilite Industries Ltd., Bostik (ARKEMA GROUP), XCHEM International L.L.C., and Delmon, among others
Geographic Analysis The report covers brief analysis of geographical regions such as: > North America o U.S. o Canada > GCC o Saudi Arabia o UAE o Qatar o Kuwait o Oman o Bahrain
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the North America and GCC HVAC insulation wraps and tapes market also experienced a slowdown. Statista estimates that the North America and GCC HVAC insulation wraps and tapes industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the North America and GCC HVAC insulation wraps and tapes industry generated revenues of US$ 5.4 trillion at a record high.
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The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the North America and GCC HVAC insulation wraps and tapes market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
Key questions answered in the North America and GCC HVAC insulation wraps and tapes market report are:How does a global company acquire markets? What are its core strategies and policies? What factors will influence the North America and GCC HVAC insulation wraps and tapes market over the forecast period? What are the factors driving and restraining the market for North America and GCC HVAC insulation wraps and tapes? What are the leading competitors in the global market? Which region is growing at a higher pace in the global market?
Key Findings Market Research Future concludes that the North America & GCC HVAC insulation market is growing as per the analysis. The market will register a healthy growth during the forecast period, attributed to the burgeoning construction in both the regions. North America & GCC HVAC insulation wraps and tapes market is projected to reach USD 2,004.8 million by 2024 at a CAGR of 6.63% during the review period of 2017 to 2024. Whereas, the North America and GCC HVAC adhesives and sealants market is expected to reach USD 1,490.6 million by the end of 2024 and is expected to register a CAGR of 6.28% during the review period.
Intended Audience > HVAC insulation manufacturers > HVAC insulation material traders > Potential investors > HVAC insulation suppliers
DC – Description > HVAC insulation > Duct insulation > Ductwork Insulation > Duct Wrap > Air Duct Insulation
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