The fiberglass duct wrap insulation market size is projected to reach US$ 2.64 billion by 2031 from US$ 1.70 billion in 2023. The market is expected to register a CAGR of 5.6% in 2023–2031. The rising focus on developing energy-efficient buildings is likely to remain a key fiberglass duct wrap insulation market trends.
The major factor driving the fiberglass duct wrap insulation market is the strong growth of the construction industry in developing countries. In India, the growth in construction activities is driven by continuing industrialization, urbanization, increasing population, growth in middle-class income, and the increase in infrastructural developments. The construction industry is the best prospective industry sector for Mexico. The Mexican construction industry is growing due to economic growth and public investment in infrastructure projects. All these factors are boosting the growth of the fiberglass duct wrap insulation market.
Fiberglass duct wrap is a thermal and acoustical insulation blanket that is mainly used as external insulation on HVAC ducts. Fiberglass insulation has many advantages, such as cost-effectiveness and energy-efficient insulation. It also provides moisture and fire resistance while also dampening sound. Also, duct wrap insulation is lightweight and easy to install. Fiberglass duct wrap finds application in exterior sheet metal ducts where temperature and condensation need to be controlled. Fiberglass duct wrap insulation helps to reduce heat transfer in a properly designed and installed system. Fiberglass duct wrap insulation is manufactured with various facings and types.
Various government bodies across different countries are supporting the development of the residential construction sector. For instance, during the 14th Five-Year Plan (2021-2031) period, China has planned to add 6.5 million government-subsidized rental homes in 40 key cities to help an estimated 13 million people in need of affordable housing. To offer more comfort to the residents, about 219,000 old residential communities built before the end of 2000 in urban areas will be renovated by 2031. China also announced a plan to mend rickety rural homes or upgrade those in earthquake-prone rural areas, while the housing provident fund is expected to cover more people in the workforce. Further, in recent years, there has been a growing demand for green buildings. The construction industry is a resource-intensive industry, and constructing a building consumes a lot of natural resources. Hence, there has been an increase in demand for buildings that add aesthetic value to the location as well as the buildings are examples of sustainable development.
The growing construction activities in the Middle East and Africa are expected to offer lucrative opportunities for market growth. In April 2016, Saudi Arabia launched its Vision 2031 to diversify its economy, modernize its administration, and introduce bold reforms in many sectors. Saudi Arabia is targeting to increase the contribution of its construction sector to the overall GDP. Due to its Vision 2031, the country’s construction market shows significant growth and offers lucrative potential.
Key segments that contributed to the derivation of the fiberglass duct wrap insulation market analysis are type and application.
The geographic scope of the fiberglass duct wrap insulation market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific region holds a larger share of the global market. Asia Pacific market includes countries such as Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The region dominated the market due to rising demand for energy-efficient buildings. Moreover, the growing residential, commercial, and industrial construction activities are also boosting the market growth in Asia Pacific. China is a major contributor to the fiberglass duct wrap insulation market growth in Asia Pacific. In China, the market growth is driven by the growing construction industry and the increasing adoption of HVAC systems in commercial and industrial buildings.
The regional trends and factors influencing the Fiberglass Duct Wrap Insulation Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fiberglass Duct Wrap Insulation Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 1.8 Billion |
| Market Size by 2031 | US$ 2.64 Billion |
| Global CAGR (2025 - 2031) | 5.6% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Fiberglass Duct Wrap Insulation Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fiberglass Duct Wrap Insulation Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The fiberglass duct wrap insulation market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for fiberglass duct wrap insulation and strategies:
The “Fiberglass Duct Wrap Insulation Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: