HOME › Research Insight › Expansion, Acquisition, New Product Launch, New Technology Development, Innovation, and Agreement Were the Strategies Adopted by the HVAC Insulation Market
Expansion, Acquisition, New Product Launch, New Technology Development, Innovation, and Agreement Were the Strategies Adopted by the HVAC Insulation Market
Expansion, acquisition, new product launch, new technology development, innovation, and agreement were the strategies adopted by the key players between 2012 and 2016 to achieve growth in the HVAC insulation market. Rising population, urbanization, globalization, and infrastructural renewal are the key factors fueling the growth of the global construction industry. The HVAC system installed in the newly constructed buildings requires insulation in order to minimize the energy consumption of the building, which in turn caters the demand for HVAC insulations. The surging construction industry and demand for HVAC insulations have encouraged companies to adopt the strategy of expansion, acquisition, and new product launch in the HVAC insulation market. Some of the leading HVAC insulation material manufacturers are Saint Gobain S.A. (France), Owen Corning Corporation (U.S.), Rockwool International A/S (Denmark), and Armacell International S.A. (Germany) are adopting these strategies to develop their business, globally. The companies have also adopted the strategy of agreement, new technology development, and innovation to retain their competitiveness in the global market. These strategies also accounted for a significant share of the total number of growth strategies adopted by the players in the global HVAC insulation market between 2012 and 2016.
Key companies, such as Saint Gobain S.A. (France), PPG Industries Inc. (U.S.), Owen Corning Corporation (U.S.), Rockwool International A/S (Denmark), Armacell International S.A. (Germany), Johns Manville Corporation (U.S.), Xiamen Goot Advanced Material Co., Ltd. (China), L'ISOLANTE K-FLEX S.p.A. (Italy), Glassrock Insulation Co S.A.E (Egypt), Knauf Insulation (Belgium), Arabian Fiberglass Insulation Co., Ltd. (Saudi Arabia), Fletcher Insulation Pty Ltd. (Australia), Kingspan Group plc (Ireland), Kuwait Insulating Material Manufacturing Co. (Kuwait), and Paroc Group OY (Finland) are the most active players in the global HVAC insulation market.
In 2015, Owens Corning Corporation (U.S.) announced to open a mineral wool manufacturing facility in Missouri, U.S. and the company is expected to commence its operation in the new facility from 2017. This expansion will increase the company’s growth opportunities in the North American HVAC insulation and other building insulation market. In 2015, Armacell acquired OneFlex, a leading insulation materials manufacturer in Turkey, in order to strengthen its insulation materials and engineered foams business operations in Turkey. Moreover, this acquisition will also help the company to expand its business operation to Middle East, Africa, and Southeast Europe.
HVAC Insulation Market by Type (Glass Wool, Stone Wool, Phenolic Foam, Elastomeric Foam and Others), Application (Residential, Commercial, Industrial) & by Region - Global Trends and Forecast to 2021
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