Reports
- Global Locations -
Headquarters
Future Market Insights, Inc.
Christiana Corporate, 200
Continental Drive, Suite 401,
Newark, Delaware - 19713,
United States
Americas
Future Market Insights, Inc.
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989, United States
MEA
Future Market Insights
1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Europe
Future Market Insights
3rd Floor, 207 Regent Street,
W1B 3HH London
United Kingdom
Asia Pacific
Future Market Insights
IndiaLand Global Tech Park, Unit UG-1, Behind Grand HighStreet, Phase 1, Hinjawadi, MH, Pune – 411057, India
The current valuation of the fireproof insulation market in 2022 is US$ 27.5 billion and it is projected to grow at a modest CAGR of 3.5% during the forecast period to reach a market value of US$ 38.79 billion by 2032.
Attributes | Details |
---|---|
Market Valuation (2022) | US$ 27.5 billion |
Market Valuation (2032) | US$ 38.79 billion |
CAGR | 3.5% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Lack of Awareness in Developing Countries is a Key market deterrent
Lack of awareness regarding the need for fireproof insulation deters its adoption in the developing nations of Latin America and the Asia-Pacific. Though these nations are implementing new sustainability laws, there is still a lack of abidance and awareness. SMEs and developing regions are yet to become key consumers.
Due to its superior heat and moisture resistance, the polystyrene segment is projected to be most in demand during the forecast period. The segment could account for nearly US$ 12.3 billion in market revenue by the end of the forecast period. The material is in demand due to its low thermal conductivity as well as enhanced compressive strength.
An increase in commercial, as well as industrial constructions, is posed to increase the non-residential application of fireproof insulation. Currently, in the United States alone, the non-residential construction market is worth about US$ 859 billion.
During the forecast period, the North American market is expected to grow at a CAGR of 3%. Due to the rise in demand for products that are energy efficient, regional manufacturers are focused on driving sustainable innovations. To abide by newly revised stringent government regulations, the regional market is witnessing increased adoption of energy-efficient fireproof insulation.
During the forecast period, the European market is projected to expand at a CAGR of 3.5%, to reach a market value of US$ 15.6 billion by 2032. This is primarily due to Europe's extensive construction projects that are steadily adopting sustainable practices. This requires the adoption of innovative products in construction that are energy efficient and reduce greenhouse gas emissions.
Fireproof insulations are used to combat the spread of flames in case of fire disaster and helps in protecting the load bearing structure of the building, investments and human lives. The different types of material used in fireproof insulation are fiberglass, cellulose, mineral wool, polystyrene (EPS) and polyurethane foam.
Among these, fiberglass material accounts for major share in terms of consumption in global fireproof insulation market. This material is made by weaving fine glass strands and has the capability to minimise heat transfer.
Fiberglass material is a cost effective insulation material as compared to other material types. Fireproof insulation is used in building and construction sector and can be further classified as residential, industrial and commercial. It is also used to enhance the safety of naval ships.
ROCKWOOL International A/S, is a UK based leading manufacturer of insulation products. The company manufactures different fireproof products and systems by brand names FIREPRO, ROCKCLOSE, ROCKWOOL etc.
The stringent government regulations for residential and industrial constructions to enhance the safety is the major driver for the growth of global fireproof insulation market. Industrialisation and the rising construction activities in APEJ, Latin America and MEA regions is expected propel global fireproof insulation market growth.
Fireproof insulation helps in reducing heat transfer, thus maintains the temperature levels and energy consumption in the built structure. The consumer awareness regarding controlled energy consumption and side-effects of greenhouse gas emissions is anticipated to increase the consumption of fireproof insulation.
However, there is a lack of awareness regarding the importance of fireproof insulation in construction of buildings and no stringent fire safety regulations in the emerging economies, which might hamper the growth of global fireproof insulation market during the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The global fireproof insulation market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
North America and Western Europe hold significant share in global fireproof insulation market. In the developed economies such U.S, UK and Germany, the construction activities are subject to stringent regulations and codes. The industrial marine and shipbuilding industry is quite mature in these regions, which is anticipated to contribute major share in fireproof insulation market in these regions.
The rising construction activities in the emerging clusters of APEJ region is anticipated to increase the share of this region in global fireproof insulation market. In Japan, fireproof insulation is adopted in schools, hospitals, luxury apartments etc. and the consumption is expected to rise during the forecast period. Latin America fireproof insulation market is at nascent stage and is expected to project moderate CAGR over the forecast period.
Some of the key players in the global fireproof insulation market are as follows:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of material, the global fireproof insulation market can be segmented as follows:-
On the basis of application, the global fireproof insulation market can be segmented as follows:-
On the basis of end-use sector, the global fireproof insulation market can be segmented as follows:-
The market is likely to register a CAGR of 3.5% through 2032.
The market is currently valued at US$ 27.5 Bn in 2022.
The market is likely to grow to a valuation of US$ 38.79 Bn by 2032.
North America is likely to be a leading market during the forecast period.
Explore Chemicals & Materials Insights
View Reports