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%
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Critical factors positively influencing the growth of the fireproof insulation market are:
Globally, collective efforts to reduce carbon footprint and greenhouse gas emissions have bolstered the fireproof insulation market growth prospects
A rise in stringent laws and regulations for building construction is increasing the demand for fireproof insulation
Innovations by manufacturers to produce highly efficient and affordable products are strengthening market prospects
Government initiatives such as incentives and tax rebates to promote the installation of fireproof insulation
There is an emerging trend of enterprises of varying capacities, readily adopting fireproof insulation, particularly in developed nations.
Recent Market Trends:
Knauf acquired USG Corporation, to pool resources to expand their consumer base
FOAMGLAS by Owen Corning with properties such as superior compressive strength, moisture, and water resistance, was launched in the North American market
Vetrotech Saint-Gobain launched CONTRAFLAM Mega with a multifunctional glazing system, that is suitable for diverse applications in atriums, stair enclosures, and such.
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.
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Superior Features Drive Demand for the Polystyrene Material Segment
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.
Non-Residential Application to Rise Due to Commercial Demands
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.
Efforts to Reduce Greenhouse Gas Emission Boosts North American Market
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.
Europe Becomes a Pioneer in Promoting Sustainability
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.
Fireproof Insulation Market: Drivers and Restraints
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.
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Fireproof Insulation Market: Region Wise Outlook
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.
Fireproof Insulation Market: Key Players
Some of the key players in the global fireproof insulation market are as follows:
ROXUL Inc.
ROCKWOOL International A/S
CSR Building Products Ltd
BAUCOMEX CZ, s.r.o.
Jewson Limited
Combi Isolatie Tholen
Refractory Specialties Incorporated
airkrete
Arango Insulation
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 covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Western Europe (EU5 countries, Nordic, BENELUX, Rest of Western Europe)
Eastern Europe (Poland, Russia, Rest of Eastern Europe)
APEJ (China, India, ASEAN, Australia & New Zealand)
Japan
MEA (GCC Countries, S. Africa, N. Africa, Rest of MEA)
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.
Fireproof Insulation Market: Segmentation
On the basis of material, the global fireproof insulation market can be segmented as follows:-
Fiberglass
Cellulose
Mineral Wool
Glass wool
Rock wool
Slag wool
Polystyrene (EPS)
Polyurethane Foam
On the basis of application, the global fireproof insulation market can be segmented as follows:-
Walls and Partitions
Cable Lines
Piping
Air Ducts
Storage Tanks
Supporting Structures
On the basis of end-use sector, the global fireproof insulation market can be segmented as follows:-
Industrial Building and Construction
Residential/ Commercial Building and Construction
Marine and Offshore
Frequently Asked Questions
What is the Growth Outlook for Fireproof Insulation Market?
The market is likely to register a CAGR of 3.5% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 27.5 Bn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 38.79 Bn by 2032.
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.
