Fiberglass duct wrap insulation market to earn commendable proceeds from residential applications, global industry to surpass 900 million square meters by 2024
With energy conservation becoming a pivotal keyword in the present environmental scenario, fiberglass duct wrap insulation market undeniably stands to gain commendable returns in the ensuing years. According to the US Department of Energy, in an average American home, 50% to 70% of energy is used up for heating and cooling purposes. Using effective insulation and air sealing can save up to 20% of energy costs, which can become a substantial saving for residential, commercial or industrial buildings – a fact that is certain to contribute toward fiberglass duct wrap insulation industry growth.
U.S. Fiberglass Duct Wrap Insulation Market, By Application, 2017 & 2024, (Million Square Meters)
Tighter building codes are now being put into place to minimize energy being lost from buildings, leading to energy wastage and further burden of greenhouse gases emissions on the planet. The application of such codes are driving innovation in the HVAC ductwork market, quite overtly fueling fiberglass duct wrap insulation market trends. Air ducts, which are essentially present on almost all buildings for ventilation are crucial areas which can often be overlooked and take a heavy toll when it comes to energy costs.
In most commercial and residential buildings, a proactive stance is being undertaken to maintain the indoor air quality. Air quality maintenance has received a high priority and attention in recent decades, leading to duct work insulation receiving increased importance when it comes to sustainable design and avoiding potential health threats like microbial growth and mold, which often infests in unprotected ducts. Excess moisture can accumulate itself on uninsulated ducts when condensation collects on the duct surface leading to microbial growth and decline in indoor air quality.
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However, with the recognition of fiberglass as a potential insulation material that not only maintains constant temperature but also deters mold growth by being an inorganic substance, fiberglass duct wrap insulation market has registered steady growth in the recent years. As per studies conducted by 20 noted laboratories and universities as well as the World Health Organization, the material does not contribute towards indoor air pollution at all.
In this regard, some fiberglass duct wrap manufacturers like CertainTeed are developing moisture repellent surface insulation that are more resistant to moisture as compared to traditional insulation. The feature is suited for consumers who desire to lift any doubt concerning the entrance of moisture through improperly sealed duct joints or poorly maintained ducts. The breathable coating also helps in preserving sound dampening characteristics of the insulation and allows sound waves to be absorbed in the fiberglass insulation with the open cell structure.
Increasing awareness among consumers about indoor air quality and ventilation has also helped to spur the fiberglass duct wrap insulation market. Application of fiberglass insulation in residential air conditioning and spike in global residential construction has created a strong outlook for the fiberglass duct wrap insulation industry from residential applications. In fact, fiberglass duct wrap insulation industry size from the residential sector is expected to cross 350 million square meters in terms of volume by 2024. A growing interest in insulation problems has also been expressed in the commercial retrofit sector, fostering commercial and industrial applications to dominate the fiberglass duct wrap insulation market in 2017.
Regulations about energy conservation have urged more consumers to take into account the role that ductwork plays in building energy performance. The Building Commissioning Association of U.S. conducted a survey recently and found that over 72% of respondents discovered significant energy leakage in ducts in existing buildings with more than 54% respondents discovering more than 15% leakage being common in U.S. buildings. The survey went on to note that $25 billion are lost in the United States every year due to improperly insulated ducts.
In this regard, over 2018-2024, tighter duct leakage standards are being expected to be put in place by various regulatory bodies around the world who have recognized the threats these leakages will pose to their efforts of energy conservation. In order to meet these tighter standards, both in new construction and retrofit projects, contractors will be turning to potent duct insulation methods and materials, which is certain to add a commendable boost to fiberglass duct wrap insulation market.
Author Name : Paroma Bhattacharya