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Fireproof Insulation Market Size By Material (Fiberglass, Mineral Wool, Cellulose, Polystyrene [Expanded Polystyrene, Extruded Polystyrene], Polyurethane), By Application (Residential, Non-residential), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027

  • Report ID: GMI1295
  • Published Date: Apr 2021
  • Report Format: PDF

Industry Trends

Fireproof Insulation Market size valued at USD 25.9 billion in 2020 and is estimated to exhibit over 4% CAGR from 2021 to 2027.

Fireproof insulation materials are non-combustible in nature or have limited combustibility. These materials provide excellent resistance against fire so that the critical structure of the building remains intact and people get a subsequent amount of time to escape until control has been achieved over the fire.

Fireproof Insulation Market Research Report

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The global fireproof insulation industry is expected to expand through 2027 owing to increasing construction activities in both residential and non-residential sectors. For instance, in 2020, 300 construction projects were unveiled by the Beijing Municipal Commission of Development and Reform amounting to be worth around USD 36 billion. The initiative comprised 100 projects to support the development of high-end technological industries, 100 projects to improve the living conditions of people, and 100 infrastructural projects. In addition, the construction spending in the U.S. exceeded USD 1.4 trillion in 2020, where residential construction accounted for some 43% of the overall expenditure.

The use of fireproof insulation is also on the rise in countries where a forest fire is a major concern. Some areas in the U.S. are highly prone to forest fires and with the advent of climate change, the intensity of forest fires and wildfires is observed to be on the rise.

The increasing building fire incidents have brought stringent regulations in place, especially for commercial and industrial spaces. Manufacturing, construction, oil platforms, and electronics are some of the industries employing insulation materials and are witnessing considerable market growth. Moreover, the increasing population and the rapid rate of urbanization, especially in developing economies, are stimulating the need for amenities such as transport, construction activities, and transport.

According to the United Nations, in recent times, more than 55% of the world’s population is residing in urban lands, which is anticipated to reach 68% by 2050. According to the estimates, more than seven billion people will be living in urban areas. Asia and Africa will witness the most significant growth in this increase by reflecting a rise of above 90% during this period. Additionally, most of the urban population will be concentrated in some major economies, such as India, China, and Nigeria, which will hold 35% of the total urban population. These trends are certain to create a promising outlook for the construction industry, thus supporting the growth of the fireproof insulation market.

COVID-19 is impeding the market growth

The lack of awareness regarding the importance of fireproof insulation along with the health crisis caused by the COVID-19 outbreak is hampering fireproof insulation industry growth. Measures, such as the temporary shutdown of production operations, mobility restrictions, trade bans, etc., which were taken by several governments to restrain the spread of the contagious virus took a severe toll on the construction industry. This, in turn, impacted the industry supply chain in every aspect and plunged the demand for fireproof insulation materials.

Fiberglass will attain the leading market position

The fiberglass segment is anticipated to remain dominant throughout the studied timeframe due to its low cost, ease of availability, and performance. In 2020, the segment acquired more than 35% of the fireproof insulation market share in terms of volume. This material is relatively cheaper than other available options, hence making it affordable for a wider consumer base. However, the ease of handling and installation renders fiberglass an ideal material for an increasing number of DIY consumers.

The insulative material is made from plastic polymers and presents natural resistance to fire, making it increasingly popular amongst homeowners looking to fireproof their residence. Innovative production techniques have also reduced the overall production costs of the material, further bolstering the consumption of fiberglass for fireproof insulation.

The residential sector will be the major application segment

Fireproof Insulation Market Size, By Application

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The residential sector contributed around USD 12.5 billion to the fireproof insulation market in 2020 and is estimated to acquire a major market share through 2027. The strong growth of the segment can be attributed to several factors, for instance increasingly stringent safety and energy efficiency policies and codes across the world, calling for greater use of insulating materials in the residential buildings. Rapid urbanization and industrialization in developing countries are significantly contributing to market expansion. Furthermore, an aging infrastructure and increasing investment in renovation projects in developed nations have conjunctively promoted the use of fireproof insulation.

Europe will dominate the global consumption

Fireproof Insulation Market Share, By Region

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Europe is the leading revenue-generating region and accounted for almost 40% of the fireproof insulation market share. The industry growth in the region is underpinned by stringent building and construction codes. These norms in some cases also mandate the use of certain fire-retardant insulating materials, especially while constructing residential housing units.

The increasing construction of energy-efficient buildings has already pushed the insulation market on the rise. However, rising consumer awareness regarding the potential advantages of fireproof insulation is catalyzing product consumption in European countries. The region is also attracting an increasing number of tourists, thereby, witnessing an aggressive expansion in hotel bed capacity, construction of new hotels, and stays, also significantly contributing to the market demand.

Industry players are taking strategic initiatives to reinforce the market foothold

The fireproof insulation industry participants are aggressively involved in several strategic initiatives, such as geographical expansion, product launches, mergers, and joint ventures, to scoop more market share. For instance, in August 2019, Rockwool International A/S’s fireproof insulation solution COMFORTBOARD was certified by the California State Fire Marshall’s Building Materials Listing Program (BML), which is aimed to support the company’s growth in the North American region.

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

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 2017 to 2027 for the following segments:

Market, by Material

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

Market, by Application

  • Residential
  • Non-residential

The above information is provided on a regional and country basis for the following:

  • 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
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The fireproof insulation industry size had reached USD 25.9 billion in 2020 and is anticipated to rise at a CAGR of more than 4% up to 2027 due to the surge in the number of construction activities across the residential and non-residential sectors.

The fiberglass material segment contributed to over 35% of the fireproof insulation industry share with regards to volume in 2020.

The market share from the residential applications was recorded at USD 12.5 billion in revenue in 2020 and will grow with higher adoption of insulating materials in residential buildings.

Europe held close to 40% of the fireproof insulation industry share in 2020 and is pegged to register a substantial growth rate through 2027 owing to the presence of stringent building and construction codes in the region.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 11
  • Tables & Figures: 198
  • Countries covered: 21
  • Pages: 200

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