Fiberglass Duct Wrap Insulation Market Analysis and Forecast by Size, Share, Growth, Trends 2031

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.

Fiberglass Duct Wrap Insulation Market Analysis

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 Insulation Market Overview

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.

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Fiberglass Duct Wrap Insulation Market: Strategic Insights

Fiberglass Duct Wrap Insulation Market

• Market Size 2023
  US$ 1.70 Billion
• Market Size 2031
  US$ 2.64 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Faced
• Unfaced

Application

• Residential
• Commercial
• Industrial

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Fiberglass Duct Wrap Insulation Market Drivers and Opportunities

Strong Growth of the Construction Industry, along with Increasing Focus on Developing Energy-Efficient Buildings

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.

Growing Demand from Middle East and Africa

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.

Fiberglass Duct Wrap Insulation Market Report Segmentation Analysis

Key segments that contributed to the derivation of the fiberglass duct wrap insulation market analysis are type and application.

• Based on type, the fiberglass duct wrap insulation market is segmented into faced and unfaced. The faced segment held a significant market share in 2023.
• By application, the market is segmented into residential, commercial, industrial, and others. The commercial segment held a significant share of the market in 2023.

Fiberglass Duct Wrap Insulation Market Share Analysis by Geography

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.

Fiberglass Duct Wrap Insulation Market Market Report Scope

Fiberglass Duct Wrap Insulation Market News and Recent Developments

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:

• Johns Manville (JM), a global manufacturer of energy-efficient building products and engineered specialty materials and a Berkshire Hathaway company, announced today the release of the first-ever fiberglass duct wrap with an installed thermal resistivity rating of R-12: Microlite FSK. This Formaldehyde-free duct wrap is designed specifically to meet new code requirements set forth by the IECC in 2015 that mandate the use of R-12 insulation on ducts in unconditioned spaces in climate zones 5-8. (Source: Johns Manville, Company Website/Press Release/2021)
• Owens Corning – an inventor and a leading global producer of fibreglass insulation, has launched next generation insulation product made by PureFiber Technology. (Source: Cooling India, Company Website/New Products/2021)

Fiberglass Duct Wrap Insulation Market Report Coverage and Deliverables

The “Fiberglass Duct Wrap Insulation Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles