Fireproof Insulation Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1295
Global Fireproof Insulation Market size may observe steady growth over the foreseeable timeframe. It is processed from fire redundant material and protect against fire attacks which is prominently used in clothing, and building materials.
Strict government regulations in construction sector accompanied with rising environmental concerns regarding GHG reduction and low installation cost should drive industry growth. Key properties include cost effectiveness and energy efficiency may boost product demand in various applications.
Global construction market was valued at over USD 8.5 trillion in 2015 and may surpass USD 10.5 trillion by 2024. Increasing infrastructure spending along with rapid urbanization has led to rise in construction industry growth thereby positively influencing fireproof insulation market size. It is used in commercial, industrial and residential construction & building sectors. Increasing number of hazards leading to loss of property and life may contribute towards product demand.
Residential and commercial building accounted for highest portion of market share in 2015. Rapid industrialization along with rising economic standards has led to increase in infrastructural establishments. Rising awareness regarding building disaster management and recovery measures is a major factor stimulating fireproof insulation market growth.
Fire resistant apparel may witness significant growth in fireproof insulation market and was valued at USD 4.0 billion in 2015 and may exceed USD 5.5 billion by 2024, with gains at over 5.5%. Rise in product demand for mining, chemicals, construction & manufacturing and oil & gas industries along with supportive government norms regarding work place safety should favor fireproof insulation market growth.
Global glass wool insulation market may surpass 5 million tons by 2024 owing to increase in construction spending in China, India, and Brazil. It is primarily light weight, superior tensile strength, and high resilience making it suitable for automotive, electronics, and aircraft industries. Glass wool uses acoustic or thermal products which contributes to building safety and contribute to fireproof insulation market growth. As per British Standards, glass wool products are capable of providing class 0 and class 1 level safety.
Plastic foam is another dominating segment in fireproof insulation market and may witness steady growth over the forecast timeframe. It includes polyurethane, phenolic foam, polystyrene and polyisocynurate. They are mainly non-fibrous making it easy for installation, thereby promoting its usage in spray applied and rigid board.
U.S. plastic foam market size may register USD 26 billion by 2024 and register close to 2.5%. Rise in disposable income has led to increase in furniture, appliance, and bedding household products, may drive polyurethane foam market size. Global polyurethane (PU) foam market size was valued at over USD 45 billion in 2015. PU is one of the important material used in fireproof insulation market.
Asia Pacific, driven by India, Japan and China fireproof insulation market size may witness favorable growth. Increasing government initiatives regarding building safety along with environmental concerns regarding GHG emissions may stimulate regional growth. Rise in protective clothing demand due to increasing development in chemicals, oil & gas and petrochemicals sectors should have a positive influence on product demand.
Europe, driven by Italy, UK, France, and Germany fireproof insulation market size, may grow significantly. Increasing environmental consciousness regarding energy saving accompanied by supporting building safety codes mainly in the UK and Germany may fuel regional growth.
Fireproof insulation materials are made from wood fiber, cellulose and mineral wool which are used in buildings. Global mineral wool market size may generate over USD 15 billion by 2024, with gains at over 7%. It is generally made from fiberglass, stone wool, and ceramic fibers. Fluctuating raw material cost may hinder industry profitability and challenge fireproof insulation market price trend.
Global fireproof insulation market is moderately fragmented. Major players operating in this industry are Bershire Hathway, Rockwol International, BASF SE, Owens Corning and Saint Gobain. Other prominent companies include Paroc Group, Knauf Insulations GmbH, GAF, and Kingspan Group OY.
BASF has introduced Palusol protection panels which are classified as non-combustible building materials. The product is used to protect glazing, doors, cables, and pipes. The company also provides Elastocool & Elastopor for refrigerators and freezers which are mainly used in insulation applications.
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