The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Market Overview
Heating, Ventilation, & Air Conditioning (HVAC) systems are largely accountable for controlling the ambient environment at major end-user sectors. HVAC insulation provides ideal solution for pipes and ducts to transfer the energy with insignificant amount of losses. The HVAC insulation progresses the fire safety, energy efficiency, and auditory performance of building. The HVAC insulation market is majorly driven by growth in global construction industry and the growing demand for the energy efficient solutions. Though, the market is exposed to witness the hindrance owing to the reluctance and negligence about making constructions energy efficient among infrastructure developers.
The governments of developed as well as developing nations, around the world, are seen extremely encouraging and developing the construction sectors. The emerging nations in Asia Pacific region are ones which are particularly bringing many reforms and regulations to increase their real estate and infrastructure market. Such development is projected to augment market growth for HVAC insulation.
Segment Overview
The Government of India announced some key policy initiatives, including the approval of Real Estate (Regulation and Development) Act of 2016, which extremely mandates real estate developer to provide the greater transparency in the project marketing and the proper execution with utilization of high quality construction material. Furthermore, amendment to Benami Transactions Act, i.e. 100% deduction in the profits for reasonable housing construction, alteration in arbitration norms for the construction companies, and numerous other noticeable factors are anticipated to boost construction industry in the country.
Correspondingly, in China, central policies on housing schemes are relaxed, resulting in the lowering down payment ratio in the year 2016. Low-priced down expenses have stimulated more homebuyers to lent money from banks. Hence, this, in turn, has drove the construction industry, that has ultimately increased the demand for HVAC insulation in major end-use sectors in consecution industry.
Regional Overview
North America is the region with largest regional revenue share. The region has observed phenomenal growth in construction industry. This has convinced the demand for the HVAC systems along with the insulation in the region. Europe grips marginal share in global HVAC insulation. Strong exports of the insulation material from European countries carries out concentration of manufacturers and suppliers in the region. This along with the strong private construction development induces demand for HVAC insulation.
Asia Pacific is fastest growing region for global HVAC insulation market. The APAC is marked with the increasing construction activities, coupled with the foreign investment in real estate development. The APAC offers lucrative prospects for global players, owed to the positive economic development and the increasing disposable income. This has increased the growth of HVAC insulation used in construction industry in cooling systems. The market in Middle East and Africa is growing. Owing to the developing infrastructure, undeveloped market in the region and unceasingly growing demand for product has driven growth of market.
Competitor overview
The key policies adopted by the leading companies in the market includes expansions, product launches, acquisition, and collaborations.
Key Players
- Saint Gobain S.A.
- PPG Industries Inc.
- Owen Corning Corporation
- Rockwool International
- Armacell International S.A.
- L'ISOLANTE K-FLEX S.p.A.
- GlassRock
- Knauf Insulation
- Fletcher Insulation Pty Ltd.
- Kingspan Group Plc.
- Kuwait Insulating Material Manufacturing Co.
Market Segmentation
By Type
- Glass wool
- Phenolic foam
- Stone wool
- Elastomeric foam
- Others
- Residential
- Industrial
- Commercial
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
1 Executive Summary 12
2 Market Introduction 14
- 2.1 Definition 15
- 2.2 Scope of the Study 15
- 2.3 List of Assumptions 16
- 2.4 Market Structure 16
3 Research Methodology 17
- 3.1 Research Process 18
- 3.2 Primary Research 18
- 3.3 Secondary Research 18
- 3.4 Market Size Estimation 19
- 3.5 Forecast Model 20
4 Market Dynamics 21
- 4.1 Introduction 22
- 4.2 Drivers 23
- 4.2.1 Growth in Global Construction Industry 23
- 4.2.2 Growing Demand for Energy Efficient Solutions 24
- 4.3 Restraint 25
- 4.3.1 Reluctance about Buildings’ Energy Efficiency 25
- 4.4 Opportunity 26
- 4.4.1 Increasing industrial base in emerging economies 26
- 4.5 Challenge 27
- 4.5.1 Fluctuating Price of Raw Materials 27
5 Market Impact Analysis 28
- 5.1 Porter’s Five Forces Analysis 29
- 5.1.1 Threat of New Entrants 29
- 5.1.2 Bargaining Power of Suppliers 29
- 5.1.3 Threat of Substitutes 29
- 5.1.4 Bargaining Power of Buyers 30
- 5.1.5 Segment Rivalry 30
- 5.2 Supply Chain Analysis 31
6 Global HVAC Insulation Market, By Type 33
- 6.1 Introduction 34
- 6.2 Glass Wool 34
- 6.3 Stone Wool 34
- 6.4 Phenolic Foam 34
- 6.5 Expanded Polystyrene (EPS) Foam 34
- 6.6 Nitrile Rubber 35
- 6.7 Polyisocyanurate (PIR) 35
7 Global HVAC Insulation Market, By Component 37
- 7.1 Introduction 38
- 7.2 Pipes 38
- 7.3 Ducts 38
8 Global HVAC Insulation Market, By Application 40
- 8.1 Introduction 41
- 8.2 Residential 41
- 8.3 Commercial 41
- 8.4 Industrial 41
9 Global HVAC Insulation Market, By Region 43
- 9.1 Introduction 44
- 9.2 Americas 45
- 9.2.1 Americas: PESTL Analysis 46
- 9.2.1.1 Americas Growth Drivers: Impact Analysis 46
- 9.2.2 U.S. 50
- 9.2.3 Canada 52
- 9.2.4 Brazil 54
- 9.2.5 Rest of Americas 56
- 9.2.1 Americas: PESTL Analysis 46
- 9.3 Europe 58
- 9.3.1 Europe: PESTL Analysis 59
- 9.3.2 Europe Growth Drivers: Impact Analysis 59
- 9.3.3 Germany 63
- 9.3.3.1 Germany Growth Drivers: Impact Analysis 64
- 9.3.4 U.K. 66
- 9.3.4.1 U.K. Growth Drivers: Impact Analysis 67
- 9.3.5 France 69
- 9.3.5.1 France Growth Drivers: Impact Analysis 69
- 9.3.6 Belgium 72
- 9.3.6.1 Belgium Growth Drivers: Impact Analysis 72
- 9.3.7 Netherlands 75
- 9.3.7.1 Netherlands Growth Drivers: Impact Analysis 75
- 9.3.8 Spain 78
- 9.3.8.1 Spain Growth Drivers: Impact Analysis 79
- 9.3.9 Rest of Europe 81
- 9.4 Asia Pacific 83
- 9.4.1 Asia Pacific: PESTL Analysis 84
- 9.4.1.1 Asia Pacific Growth Drivers: Impact Analysis 84
- 9.4.2 China 88
- 9.4.3 India 90
- 9.4.4 Japan 92
- 9.4.5 Rest of Asia Pacific 94
- 9.4.1 Asia Pacific: PESTL Analysis 84
- 9.5 Middle East & Africa 96
- 9.5.1 Middle East & Africa: PESTL Analysis 97
- 9.5.1.1 Middle East & Africa Growth Drivers: Impact Analysis 97
- 9.5.2 Middle East 100
- 9.5.3 Africa 102
- 9.5.1 Middle East & Africa: PESTL Analysis 97
10 Competitive Landscape 104
- 10.1 Global Market Share Analysis 106
11 Company Profiles 108
- 11.1 Saint-Gobain S.A. 109
- 11.1.1 Company Overview 109
- 11.1.2 Financials 109
- 11.1.3 Products 109
- 11.1.4 Strategy 109
- 11.1.5 Key Developments 109
- 11.2 Owen Corning Corporation 111
- 11.2.1 Company Overview 111
- 11.2.2 Financials 111
- 11.2.3 Products 111
- 11.2.4 Strategy 111
- 11.2.5 Key Developments 111
- 11.3 Rockwool International A/S 114
- 11.3.1 Company Overview 114
- 11.3.2 Financials 114
- 11.3.3 Products 114
- 11.3.4 Strategy 114
- 11.3.5 Key Developments 114
- 11.4 Kingspan Group Plc. 118
- 11.4.1 Company Overview 118
- 11.4.2 Financials 118
- 11.4.3 Products 118
- 11.4.4 Strategy 118
- 11.4.5 Key Developments 118
- 11.5 Fletcher Insulation 121
- 11.5.1 Company Overview 121
- 11.5.2 Financials 121
- 11.5.3 Products 121
- 11.5.4 Strategy 121
- 11.5.5 Key Developments 121
- 11.6 PPG Industries Inc. 123
- 11.6.1 Company Overview 123
- 11.6.2 Financials 123
- 11.6.3 Products 123
- 11.6.4 Strategy 123
- 11.6.5 Key Developments 123
- 11.7 Armacell International S.A. 124
- 11.7.1 Company Overview 124
- 11.7.2 Financials 124
- 11.7.3 Products 124
- 11.7.4 Strategy 124
- 11.7.5 Key Developments 124
- 11.8 L'ISOLANTE K-FLEX S.p.A. 125
- 11.8.1 Company Overview 125
- 11.8.2 Financials 125
- 11.8.3 Products 125
- 11.8.4 Strategy 125
- 11.8.5 Key Developments 125
- 11.9 Knauf Insulation 126
- 11.9.1 Company Overview 126
- 11.9.2 Financials 126
- 11.9.3 Products 126
- 11.9.4 Strategy 126
- 11.9.5 Key Developments 126
- 11.10 KIMMCO 127
- 11.10.1 Company Overview 127
- 11.10.2 Financials 127
- 11.10.3 Products 127
- 11.10.4 Strategy 127
- 11.10.5 Key Developments 127
- 11.11 Glasswool 128
- 11.11.1 Company Overview 128
- 11.11.2 Financials 128
- 11.11.3 Products 128
- 11.11.4 Strategy 128
- 11.11.5 Key Developments 128
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
