The report, now available on ASDReports, "Fireproof Insulation Market by Material (Glass Wool, Stone Wool, Plastic Foam & Others), Application (Residential Buildings, Commercial Buildings), Region (North America, Europe, Asia-Pacific, Middle-East & Africa, South America) - Global Forecast to 2021", The global fireproof insulation market is expected to reach USD 23.79 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021. Key driving factors for the growth of the fireproof insulation market are the growth of the construction industry in emerging economies such as China, India, and Brazil and stringent building codes for fire safety in the developed countries such as the U.S., Canada, and Germany.
The residential buildings segment is anticipated to dominate the global fireproof insulation market, by application
The residential building is the largest application segment in the fireproof insulation market. This is mainly attributed to increase in adoption of fire safety regulation in the residential building sector in developing countries, thus increasing the demand for fireproof insulation. Fiber glass, stone wool, foam board, and PUR insulation are the materials majorly used for insulating flat fireproof.
Glass wool is the most commonly used material in the global fireproof insulation market
Glass wool dominates the global fireproof insulation market. Increasing demand from new construction around the globe is driving the growth of this segment. Glass wool is produced in rolls, blankets, slabs, and loose-fill with different thermal and mechanical properties. Glass wool products are capable of providing class 1 and class 0 level of fire safety according to the British Standards. These materials are acoustic, flexible, non-combustible, non-degradable, lightweight, and are not very expensive in comparison to other insulating materials which makes it a widely used insulant material used for fireproof insulation.
Europe is the most dominant region in the global fireproof insulation market
Europe is the most dominant region in the global fireproof insulation market. It is estimated to witness a comparatively slower growth than other regions as some of the European countries are experiencing the economic downturn, which has significantly impacted the European construction sector. The energy-saving initiatives and continuous modifications in the building regulations have been helpful in supporting the market growth.
Some of the key players operating in the global fireproof insulation market include Rockwool International A/S (Denmark), Knauf Insulation GmbH (Germany), Saint-Gobain S.A. (France), Owens Corning Corporation (U.S.), Berkshire Hathaway, Inc. (U.S.), BASF SE (Germany), and Paroc Oy (Finland).