HVAC 단열재 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the HVAC insulation market size is projected to expand from USD 6.51 billion in 2025 and USD 6.82 billion in 2026 to USD 8.82 billion by 2031, and is expected to register a CAGR of 5.28% between 2026 and 2031.

This report is Segmented by Product Type (Duct Insulation, Pipe Insulation, and More), Material Type (Glass Wool, Stone Wool, and More), Application (Duct Insulation, Pipe Insulation, and More), End-User Industry (Residential, Commercial, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Global HVAC Insulation Market Trends and Insights

Increasing Adoption of Stringent Building Energy Efficiency Regulations

Building codes are shifting from guidance to enforceable energy performance requirements, supporting demand in the HVAC insulation market. The recast Energy Performance of Buildings Directive requires European Union member states to renovate the 16% worst-performing non-residential buildings by 2030 and 26% by 2033. Its supporting Delegated Regulation 2025/1511 applies from January 1, 2026, and requires member states to calculate cost-optimal performance levels for technical building systems, including heating, ventilation, and air conditioning. Article 13 also requires indoor environmental quality monitoring in non-residential buildings from May 29, 2026, raising expectations for thermal management across HVAC assemblies. California's 2025 Building Energy Efficiency Standards apply to new permit applications from January 1, 2026, and expand heat pump and ventilation requirements in new residential construction. Well-funded inspection programs are more likely to convert these rules into higher insulation specifications, while areas with weaker enforcement may adopt them more slowly.

Growing Demand for HVAC Retrofit and Renovation Projects in Aging Buildings

Existing buildings are expected to remain the primary base for renovation through 2050, creating a sustained source of HVAC insulation demand in mature markets. A 2025 peer-reviewed study identified thermal insulation and HVAC system performance as primary components of climate-sensitive renovation across building and climate types. The European Union's Renovation Passport framework supports phased deep renovation, allowing HVAC and building services upgrades to be addressed before major structural work. In North America, commercial renovation projects increasingly combine duct insulation work with broader mechanical system replacements. Retrofit projects often require better acoustic and moisture performance than basic thermal compliance. This shifts specifications toward elastomeric foam and polyisocyanurate (PIR) panel systems, where owners weigh expected operating performance and remediation exposure alongside initial material cost.

Volatility in Raw Material Prices and Manufacturing Costs

HVAC insulation producers rely on silica and soda ash for glass wool, basalt and slag for stone wool, chemical inputs for polyisocyanurate (PIR) and polyurethane (PUR) foam, and natural or synthetic rubber for elastomeric products. This broad input base exposes manufacturers to simultaneous supply disruptions across multiple commodity chains. Owens Corning reported that geopolitical disruption added USD 60 million to input costs in the second quarter of 2026, driven by higher energy-linked feedstock costs. Methylene diphenyl diisocyanate (MDI), a key PIR input, remains exposed to a concentrated global supply, which is a concern given its growing specification demand. Producers with integrated glass fiber or mineral wool operations may have steadier input costs than foam-focused suppliers. Volatile costs make pricing and budgeting difficult for large commercial HVAC projects with long procurement cycles.

Other drivers and restraints analyzed in the detailed report include:

1. Rising Demand for High-Performance Moisture-Resistant Insulation in Humid Climates
2. Increasing Electrification of Heating, Ventilation, and Air Conditioning Systems
3. Performance Dependence on Proper Installation and Workmanship

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Duct insulation held a 36.82% share in 2025, while pre-insulated duct panels are forecast to expand at a 6.34% CAGR through 2031. Duct insulation remains the foundation for commercial, industrial, and residential air distribution systems, with glass wool duct boards and elastomeric duct wrap continuing to serve both new construction and retrofit applications. Pipe insulation is a key segment, as chilled water, refrigerant, and hot water networks extend across large buildings and industrial facilities, where long pipe runs increase energy and condensation losses when insulation is inadequate. The HVAC insulation market continues to rely on duct and pipe systems for the majority of its installed base. Pre-insulated duct panels are growing faster because contractors value single-fix installation and factory-defined thermal performance, particularly in high-ceiling commercial spaces.

Kingspan's KoolDuct system became the first rigid phenolic foam pre-insulated ductwork product with an Underwriters Laboratories (UL) 181 Class 1 Air Duct listing in the United States. That listing supports its use in commercial and institutional specifications where performance and safety evidence are required. Acoustic insulation boards are developing a focused role in premium offices and hospitality projects, where mechanical specifications increasingly address noise control alongside thermal performance. Flexible insulation remains useful in retrofits because it can accommodate irregular duct routes and existing pipework where rigid systems are difficult to install. Other products, including high-temperature blankets, specialty wraps, and mechanical-room insulation, serve data center and pharmaceutical systems with more specific requirements. Across these product groups, higher-performance systems are gaining share from basic materials where project owners prioritize reliable installed performance. This preference is strongest where the cost of later access, moisture repair, or disruption to building operations exceeds the savings from a basic material. Product suppliers can therefore compete on documented system performance, installation guidance, and the ability to meet the requirements of complex commercial projects. The HVAC insulation market is also benefiting from solutions that reduce fieldwork without sacrificing the flexibility needed for retrofit installations.

Glass wool held a 31.78% share in 2025, while PIR foam is forecast to grow at a 6.46% CAGR through 2031. Glass wool maintains its position through non-combustibility, broad temperature performance, and cost efficiency in duct board, pipe insulation, and equipment wrap applications. PIR foam benefits from a closed-cell structure and compatibility with pre-insulated duct panel fabrication. Armacell's technical information specifies a service temperature range of -183°C to +148°C for its relevant insulation products, making its high-performance foam materials suitable for applications where moisture resistance and limited space are important. The HVAC insulation market size for PIR foam is supported by demand for greater thermal resistance per unit thickness. Glass wool remains central where budgets, fire performance, and established installation practices govern material selection.

Knauf Insulation's Performance+ Air Duct Board uses a bio-based binder without phenol, formaldehyde, or acrylics and holds GREENGUARD Gold certification for indoor air quality emissions. This demonstrates how glass wool suppliers are responding to more demanding indoor environment standards. Stone wool is gaining traction in commercial and industrial projects where non-combustibility is a mandatory requirement. ROCKWOOL reported a Euroclass A2 classification upgrade for Rockpanel in 2025, extending the material family's relevance in fire-sensitive building applications. Elastomeric foam is established in refrigerant pipe and air handling unit (AHU) applications in humid climates because it resists moisture and does not release fibers during installation. Polyurethane (PUR) foam supports standard pipe insulation, while phenolic foam is well-suited to thin pre-insulated duct panels in space-constrained retrofits. Polyethylene foam remains relevant in cost-sensitive residential and light commercial work where specification thresholds are lower. Material selection remains application-specific because heat exposure, moisture exposure, available installation depth, and fire requirements differ across duct, pipe, and equipment uses. Suppliers that offer multiple material types can address these trade-offs within a single project rather than requiring contractors to source multiple systems. This broad portfolio capability is important in the HVAC insulation market as building owners seek a balance between compliance, ease of installation, and long-term thermal performance.

Complete Report Scope:

• By Product Type
  • Duct Insulation
  • Pipe Insulation
  • Acoustic Insulation Boards
  • Pre-Insulated Duct Panels
  • Flexible Insulation
  • Other Products
• By Material Type
  • Glass Wool
  • Stone Wool
  • Elastomeric Foam
  • Polyurethane (PUR) Foam
  • Polyisocyanurate (PIR) Foam
  • Phenolic Foam
  • Polyethylene Foam
  • Other Materials
• By Application
  • Duct Insulation
  • Pipe Insulation
  • Equipment Insulation
  • Air Handling Unit (AHU) Insulation
• By End-user Industry
  • Residential
  • Commercial
  • Industrial
  • Transportation
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific accounted for 39.61% of revenue in 2025 and is forecast to grow at a 6.13% CAGR through 2031. Regional demand in the HVAC insulation market is supported by large commercial projects in China, urban development in India and Southeast Asia, and stricter energy efficiency regulations. ROCKWOOL identified India, Malaysia, and Japan as its strongest Asia-Pacific growth markets in 2025. Its China insulation business declined at a double-digit rate during the same year, reflecting pressure in the Chinese commercial real estate market. India is raising thermal performance expectations through its Energy Conservation and Sustainable Building Code as commercial, healthcare, and information technology infrastructure expand. Kingspan is expanding its regional presence through investments in Thailand, India, and Singapore, including the acquisition of Hao Wei Singapore. South and Southeast Asia remain important areas for new manufacturing capacity and performance-oriented product specifications. Regional projects range from standard residential systems to complex commercial and data center installations, requiring suppliers to address a wide range of price and performance requirements. Greater local availability can shorten delivery times and allow manufacturers to support contractors during product selection and installation. The HVAC insulation market in this region therefore offers both broad volume potential and a growing demand for higher-value materials.

North America is the second-largest regional market, driven by commercial renovation, data center construction, and upgrades to aging HVAC systems in the United States. ROCKWOOL reported strong double-digit U.S. revenue growth in 2025 and expects North American demand to exceed regional production capacity through at least 2028, which may require supplemental imports from Europe. Owens Corning's insulation segment generated USD 867 million in net sales in the first quarter of 2026. The company reported enterprise revenue of USD 2.6 billion to USD 2.7 billion in the second quarter of 2026 as it focuses investment on branded building products. Canada's slower housing activity is partly offset by commercial retrofits tied to net-zero goals, while Mexico presents an underdeveloped base in manufacturing and urban housing. Renovation activity, data center development, and tighter performance standards provide demand sources that do not depend solely on new residential construction. Suppliers with North American production and technical support are positioned where projects require documented compliance and dependable supply, reinforcing the region's role as a major center of demand for HVAC insulation.

ROCKWOOL recorded revenue declines in Germany and France in 2025, while Romania, Poland, and Hungary grew, pointing to a near-term shift toward lower-cost Eastern European economies where industrial activity and building upgrades remain active. The regulatory environment continues to support longer-term demand in the HVAC insulation market across Europe. South America is the smallest listed geographic segment, with potential in Brazil's commercial construction and industrial refrigeration base. Argentina and Brazil also face commodity price and currency risks that complicate supply planning for global manufacturers. These regional differences make localized production, distribution, and product selection important for suppliers seeking to expand. European projects may place greater weight on renovation, fire performance, and regulatory compliance, while South American projects must also manage input cost and currency exposure. A uniform product and supply approach is unlikely to address these distinct conditions. The HVAC insulation market consequently favors suppliers that can adapt their material mix, sales support, and capacity planning to local building conditions.

1. AFICO
2. American Flexible Products
3. Armacell
4. Climatech
5. Glassrock Insulation Co. S.A.E.
6. Johns Manville
7. Kingspan Holdings (IRL) Limited
8. Knauf Insulation
9. L'ISOLANTE K-FLEX S.p.A.
10. Owens Corning
11. Panasonic Corporation
12. ROCKWOOL A/S
13. Saint-Gobain
14. Thermafiber
15. Thermaflex
16. Ursa Insulation S.A.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Increasing Adoption of Stringent Building Energy Efficiency Regulations
  • 4.2.2 Growing Demand for HVAC Retrofit and Renovation Projects in Aging Buildings
  • 4.2.3 Rising Demand for High-Performance Moisture-Resistant Insulation in Humid Climates
  • 4.2.4 Increasing Electrification of Heating, Ventilation, and Air Conditioning (HVAC) Systems
  • 4.2.5 Growing Preference for Non-Combustible and Fire-Resistant Insulation Materials
• 4.3 Market Restraints
  • 4.3.1 Volatility in Raw Material Prices and Manufacturing Costs
  • 4.3.2 Performance Dependence on Proper Installation and Workmanship
  • 4.3.3 Stringent Fire Safety, Smoke Emission, and Building Code Compliance Requirements
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Threat of New Entrants
  • 4.5.2 Bargaining Power of Suppliers
  • 4.5.3 Bargaining Power of Buyers
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value)

• 5.1 By Product Type
  • 5.1.1 Duct Insulation
  • 5.1.2 Pipe Insulation
  • 5.1.3 Acoustic Insulation Boards
  • 5.1.4 Pre-Insulated Duct Panels
  • 5.1.5 Flexible Insulation
  • 5.1.6 Other Products
• 5.2 By Material Type
  • 5.2.1 Glass Wool
  • 5.2.2 Stone Wool
  • 5.2.3 Elastomeric Foam
  • 5.2.4 Polyurethane (PUR) Foam
  • 5.2.5 Polyisocyanurate (PIR) Foam
  • 5.2.6 Phenolic Foam
  • 5.2.7 Polyethylene Foam
  • 5.2.8 Other Materials
• 5.3 By Application
  • 5.3.1 Duct Insulation
  • 5.3.2 Pipe Insulation
  • 5.3.3 Equipment Insulation
  • 5.3.4 Air Handling Unit (AHU) Insulation
• 5.4 By End-user Industry
  • 5.4.1 Residential
  • 5.4.2 Commercial
  • 5.4.3 Industrial
  • 5.4.4 Transportation
• 5.5 By Geography
  • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 Rest of Asia-Pacific
  • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Russia
    • 5.5.3.6 Rest of Europe
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
  • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 AFICO
  • 6.4.2 American Flexible Products
  • 6.4.3 Armacell
  • 6.4.4 Climatech
  • 6.4.5 Glassrock Insulation Co. S.A.E.
  • 6.4.6 Johns Manville
  • 6.4.7 Kingspan Holdings (IRL) Limited
  • 6.4.8 Knauf Insulation
  • 6.4.9 L'ISOLANTE K-FLEX S.p.A.
  • 6.4.10 Owens Corning
  • 6.4.11 Panasonic Corporation
  • 6.4.12 ROCKWOOL A/S
  • 6.4.13 Saint-Gobain
  • 6.4.14 Thermafiber
  • 6.4.15 Thermaflex
  • 6.4.16 Ursa Insulation S.A.

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment