Thriving HVAC Sector to Predominantly Drive Demand for OEM Insulation through 2028

Dec 15,2021 | Chemicals & Materials

As increasing urbanization and industrialization has bolstered the growth of developing regions, applications in automotive, consumer appliances and HVAC sectors have boosted rapidly, posing a direct impact on the demand for OEM Insulation. According to a new research report by Future Market Insights, the global OEM insulation market is expected to reach a market value of over US$ 19,500 Mn by the end 2028, growing at a CAGR of 4.5% during the forecast period.  

Oem Insulation Market

A recent market study published by Future Market Insights (FMI) on the OEM insulation mark...

Oem Insulation Market

There has also been a significant increase in the construction projects globally in residential and commercial sector that depicts leading growth of HVAC systems in the global OEM insulation systems. HVAC systems cover a major part of the demand for OEM insulations.

The sector holds a dominating position in the global market owing to their cost and energy efficiency. The need for installation of HVAC systems has also called for considerable use of interior insulation systems to counter any external noise/adverse climatic conditions which can affect the subject matter.     

Asia’s Prime Focus on Infrastructural Investments Entitles it to be the Leading Region

The rampant industrial requirements in the developing regions like Asia, shows the clear picture of the OEM Insulation Market’s progress in the upcoming years. The key factors poised to drive growth in the region include rising public and private investments in industrial, energy, oil & gas, petrochemical and food and beverage sectors; increased focus of local governments on enhancing the industrial output; legislation of incentives to jumpstart the manufacturing sector, such as, development of SEZs, industrial corridors, and industrial clusters and provision of subsidies and tax cuts for manufacturing groups and industrial corporations.

Among the leading countries in Asia, India is expected have a foremost role to play in the global OEM insulation market.  According to the regional forecast by FMI, India is expected to grow at an impressive CAGR of 5.6% during the forecast period. However, in terms of market value, North America being one highly developed region, holds the largest market value by the end of 2028.

Key players to Get the Most Out of Eco-Friendly Insulation Trends

The global market for natural and eco-friendly insulating materials is projected to have a highly lucrative market. The move is in response to the up gradation of manufacturing techniques taking place. In order to gain competitive edge over the other and to reap the maximum benefits, market players are channelizing their efforts in order to develop value added products with increased efficiency. Inclination towards the trend of eco-friendly insulation is one of such moves. Many players are also a part of various collaboration activities, which enables the market player to adopt one’s competencies and further drive the market.

Some of these dominating players mentioned in the report are Rockwool Group, BASF,  Evonik, Paroc Group Oy,  Owens Corning Insulating Systems, LLC,  SAINT-GOBAIN,  Armacell International S.A,  Johns Manville Corporation, ACH Foam Technologies, LLC,  Henry Company, Shannon Enterprises of Western New York Inc., Styrotech, Inc.,NCFI Polyurethanes and more. The future projections may reveal many more trends that companies may look up to in order to surpass other companies and their growth.

To get more details on global OEM Insulation Market, reach out to the team of expert analysts at press@futuremarketinsights.com

About Chemicals & Materials division of FMI

The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials  market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.