Fireproof Insulation Market Size By Material (Fiberglass, Mineral Wool, Cellulose, Polystyrene [Expanded Polystyrene, Extruded Polystyrene], Polyurethane), By Application (Residential, Non-residential) & Global Forecast, 2023 - 2032

Fireproof Insulation Market Size

Fireproof Insulation Market size surpassed USD 27.5 billion in 2022 and is anticipated to observe over 3.5% CAGR from 2023 to 2032. The considerable rise in construction spending across both developed and developing economies will augment the demand for fire resistant insulation materials.
 

Besides, significant investments made by the governments and authorities in the housing, electricity, and manufacturing sector focused on boosting the urban infrastructure will substantially increase the expenditure on construction projects.
 

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There has been limited awareness about the benefits of fireproof insulation, which may restrict product adoption. However, the increasing construction of energy-efficient buildings backed by stringent regulatory measures and growing environmental awareness will help the industry witness remarkable progress by 2032.
 

Rising need of polystyrene insulation material for superior moisture and thermal resistance

Polystyrene material segment will amass nearly USD 12.3 billion revenues by 2032. Polystyrene is a great insulator owing to its low thermal conductivity. The material comprises several small air pockets on its surface that prevent heat energy from flowing through them. Besides, it has no odor, high thermal and moisture resistance, superior compressive strength, and is easy to handle. These attributes make it a preferred material among professional installers, thus augmenting the polystyrene fireproof insulation market.
 

Fireproof Insulation Market Analysis

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The fireproof insulation industry size from the non-residential application is poised to attain 3.5% gains through 2032. The sector growth can be credited to the increasing emphasis on developing a robust commercial and industrial infrastructure, resulting in a surge in non-residential construction projects. According to the Associated Builders and Contractors analysis, the non-residential construction expenditure in the U.S. totaled $859.3 billion for August 2022 on a seasonally adjusted annualized basis.
 

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The Europe fireproof insulation market is set to exceed USD 15.6 billion by 2032 and is projected to register 3.5% growth between 2023 and 2032. The regional industry outlook can be attributed to the spurring construction sector aided by the noticeable surge in new construction, redevelopment, and refurbishment projects. Besides, the region has observed a growing inclination toward sustainable infrastructure underpinned by stringent building and construction codes, which is slated to accelerate business expansion.
 

Fireproof Insulation Market Share

Prominent fireproof insulation industry enterprises operating are

• Knauf Insulation
• Saint-Gobain SA
• Owens Corning Corporation
• GAF
• Johns Manville
• Rockwool International A/S
• Sipla Solutions
• Kingspan Group PLC
• BASF SE
• Beijing New Building Material Co., Ltd.

Leading participants have been emphasizing developing technological breakthroughs to expand their global footprint and gain access to a broader consumer base.

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a diminishing impact on industry worldwide. The unprecedented halts in the construction activities throughout the several economies due to stringent containment measures and labor migration, coupled with the disrupted supply chain operations, significantly impacted industry revenue streams. In addition, the declining economic growth during the crisis limited people's expenditure on home reconstruction and renovation, further hampering the business development. However, with the implementation of necessary growth tactics by several governments and the lockdown restriction nearly waived-off in numerous countries, the industry is experiencing a steady rebound and is expected to drive significant gains.
 

This market research report on fireproof insulation includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meters and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Materials

• Fiberglass
• Mineral wool
• Cellulose
• Polystyrene
  • Expanded polystyrene
  • Extruded polystyrene
• Polyurethane
• Others

Market, By Application

• Residential
• Non-residential

Market, By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait