According to the report titled ‘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’, available with MarketStudyReport, global fireproof insulation market is anticipated to register an appreciable growth rate through 2027.
 

As per the report findings, global fireproof insulation market is majorly driven by strict regulatory compliance concerning thermal insulation in commercial and industrial space and increasing expenditure in construction, especially renovation activities.  

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Fireproofing is the use of fire-resistant materials in buildings to prevent structural collapse in case of a fire breakout, allowing for a safe exit of residents. The fire-resistive ratings of various materials as well as constructions are generally specified in terms of the total hours an assembly or material could be expected to bear fire exposure. The main goal of an insulation is to serve as a safe barrier against heat transfer. Consequently, choosing the insulation is very vital.

Considering material, worldwide fireproof insulation industry from cellulose segment is touted to expand at a strong CAGR of 4.7% during the forecast period. As cellulose upon treatment with borate achieves one of the highest safety ratings, it is increasingly being used in fireproof insulation. Moreover, manufacturers are experimenting with conjunctive materials like ammonium sulfate and borate to further enhance fire-resistant properties of cellulose fiber.

From a geographical perspective, the overall size and scope of the market is defined by North America (United States, Canada), Europe (Germany, United Kingdom, Spain, France, Russia, Italy), Asia Pacific (India, China, Japan, Australia, South Korea, Indonesia, Malaysia), Latin America (Brazil, Mexico), and MEA (Saudi Arabia, UAE, Kuwait).

North America fireproof insulation market is touted to record a CAGR of 4% during the analysis period owing to high acceptance of advanced construction methods and favorable weather conditions in the area. Moreover, credible sources cite that renovation activities are increasing at a strong rate in the region, with U.S. accounting for USD 328 billion in remodeling expenditure in Q4 2019.

Beijing New Building Material Co., Ltd., Sipla Solutions, Johns Manville, GAF Materials Corp., Kingspan Group plc, Owens Corning Corp., Saint-Gobain SA, Rockwool International A/S, and Knauf Insulation are the major players influencing the market trends.