According to the research 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 Market Study Report, global fireproof insulation market is expected to register momentous growth over 2021-2027.
 

Stringent directives regarding thermal insulation in industrial and commercial sectors, coupled with rise in construction spending are catalyzing the growth of global fireproof insulation market.
 

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Additionally, soaring demand of the product in application avenues such as non-residential and residential buildings is also propelling the industry vertical.
 

For the unversed, usage of fire-resistant materials to prevent structural collapse thereby allowing a safe exit to the residents during a fire outbreak is known as fireproofing.
 

Elaborating on the negatives, dearth of the product awareness is likely to restrain the growth of the business domain in the ensuing years.
 

Speaking of material, worldwide fireproof insulation sphere is classified into mineral wool, polyurethane, cellulose, fiberglass, polystyrene, and others. The cellulose segment is slated to register 4.7% CAGR through 2027. The material is gaining traction as when it is treated with ammonium sulphate or borate, cellulose fiber showcases superior fire safety ratings.

 

In terms of application scope, the industry sphere is fragmented into non-residential and residential.

 

Speaking from regional frame of reference, North America industry spurred significantly in the recent past and is poised to register 4% CAGR over the projected timeframe, accredited to advanced construction methods, uncertain weather conditions, coupled with substantial increase of renovation expenditures.

 

Leading companies in global fireproof insulation market sphere include Knauf Insulation, Compagnie de Saint-Gobain S.A., Kingspan Group plc, Sipla Solutions, GAF, Rockwool International A/S, Johns Manville, BASF SE, Beijing New Building Materials plc, and Owens Corning among others.