Fireproof Insulation Market Segments and Growth by 2027

[Research Report] The fireproof insulation market was valued at US$ 2.02 billion in 2019 and is projected to reach US$ 2.59 billion by 2027; it is expected to grow at a CAGR of 3.2% during the forecast period 2020 to 2027. 

Fireproof insulation material assists in reducing the damage caused by fire. The fireproof insulation materials are available in five forms—foam; chopped fibers; board or block insulation; fibrous mats; and textiles, films, and foils. The resistance of each form depends on the material from which it is made. The demand for fireproof insulation products is high in the residential sector owing to the strict building standards related to fire protection and increasing residentialconstruction activity. However, the popularity of fireproof insulation is growing significantly in the commercial sector due to the increasing focus on ensuring fire safety. Moreover, the construction and retrofitting activities are growing significantly in the developed as well as developing economies, which is expected to have a positive impact on the fireproof insulation market.

The fireproof insulation market in APAC is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to a large population in the region has been posing high demand for the commercial and residential construction. Moreover, the growth in commercial construction activities in the MEA is creating an increasing demand for fireproof insulation in the region. For instance, the region would host Dubai Expo 2020, Qatar’s FIFA World Cup 2022, Red Sea and Neom, and Al Qiddiya in Saudi Arabia. The construction of the abovementioned projects involves enormous structures and demands significantly elevated safety standards. However, South America has been experiencing sluggish growth rate over the years, and the fireproof insulation market is expected to grow at a slow rate in the region.

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Fireproof Insulation Market: Strategic Insights

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Impact of COVID-19 Pandemic on Fireproof insulation Market

The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and Materials are among the significant industries suffering from severe disruptions such as restrictions on the supply chain and shutdown of production plants. The shutdown of different plants and factories in various countries disrupts the global supply chains and negatively impacts the manufacturing activities, delivery schedules, and multiple goods sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering business collaboration and partnership opportunities. Thus, these factors are restraining the growth of the fireproof insulation market in the chemicals and materials industry.

Market Insights

Growing Demand for Energy Efficient Insulation Materials to Lower Greenhouse Emission Is Expected to Fuel Fireproof insulation  Market Growth

The primary function of insulation is to check and regulate heat flow inside and outside of the house. Energy efficient solutions help increase energy efficiency in businesses and homes while saving money. Various types of energy efficient solutions are being used widely in residential and industrial sectors, in turn contributing toward reducing greenhouse emissions. Installation of insulation results in massive reduction of energy waste and bill amount. Insulation materials, such as foam, play a significant role in providing insulation to buildings. It fills the gaps that can

potentially leak air and create an energy-efficient surrounding in a building. Owing to its effective and powerful insulation properties, spray foam attracts investments from customers to protect their properties in case of fire outbreaks. Polyurethane spray foam insulation is another type of foam utilized to fill and insulate large voids and surfaces. This material helps improve indoor air quality and reduces cooling and heating costs while decreasing energy consumption. Companies such as ROCKWOOL International A/S, John Manville, Knauf Insulation GmbH, InSoFast, LLC provide fireproof insulation.

Material Insights

Based on material, the fireproof insulation market is bifurcated into glass wool, mineral wool, plastic foam, fiberglass, polyurethane foam, and others. The glass wool segment accounted for a larger market share in 2019. Glass wool is made from recycled glass and fused sand, such as soda ash, limestone, and sand, which helps in trapping air and blocking heat, noise, and cold. This property of this material is embraced of lightweight, pest-proof, and flexible, due to which it is widely used in electrical and thermal insulation purpose in buildings. The material is spread in an attic to balance temperature inside the building. Glass wool absorbs sonic energy and is utilized to enhance the acoustic performance of ceilings, walls, roofs, and floors. The fiber of glass wool is noncombustible and is therefore used as acoustic or thermal insulation. As this material is made of recycled materials, including glass, slag, and other industrial by-products, it offers greater sustainability.

End User Insights

Based on end user, the fireproof insulation market is segmented into residential and commercial. The residential segment accounted for the largest market share in 2019. The number of construction projects in the residential sector is rising at an exponential rate across economies such as China, India, the Philippines, Poland, and Russia. While constructing houses, varied types of insulation are used in which fireproof is one of the insulations. Sometime the homeowners install materials and blankets in place as per the need, whereas other types of insulation need professional installation. In residential constructions, foam boards are majorly installed on inner side of the wall in existing houses and outer side of the wall in new constructions. Insulation is an essential component used in homes to reduce energy consumption. By using insulation materials, homeowners can save an average of 15% on cooling and heating costs and 11% on total energy costs. As per the North American Insulation Manufacturers Association, in the US, more than 70% of single-family homes lag in terms of having efficient insulation. This aspect would help increase the use of insulation in residential properties. Fibrous mat, mineral wool, and fiberglass are among the prominent insulation materials that are heavily used in the residential sector.

A few players operating in the fireproof insulation market are Saint Gobain S.A., BASF SE, Johns Manville, Kingspan Group PLC, Lloyd Insulations (India) Limited, Owens Corning, ROCKWOOL International A/S, U.P. Twiga Fiberglass Limited, Knauf Insulation GmbH, and L'ISOLANTE K-FLEX S.P.A  among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

Report Spotlights

• Progressive industry trends in the fireproof insulation market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the fireproof insulation market from 2019 to 2027
• Estimation of global demand for fireproof insulation
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the fireproof insulation market
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the fireproof insulation market size at various nodes
• Detailed overview and segmentation of the market, as well as the fireproof insulation industry dynamics
• Size of the fireproof insulation market in various regions with promising growth opportunities

Fireproof Insulation Market Regional Insights

The regional trends and factors influencing the Fireproof Insulation Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fireproof Insulation Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Fireproof Insulation Market Report Scope

Fireproof Insulation Market Players Density: Understanding Its Impact on Business Dynamics

The Fireproof Insulation Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Fireproof Insulation Market are:

1. BASF SE
2. Johns Manville
3. Kingspan Group Plc
4. Knauf Insulation GmbH
5. Lloyd Insulations

Disclaimer: The companies listed above are not ranked in any particular order.

Fireproof insulation Market- by Material 

• Glass Wool
• Mineral Wool
• Plastic Foam
• Fiberglass
• Polyurethane Foam
• Others

Fireproof insulation Market – by End User

• Residential
• Commercial

Company Profiles

• Saint Gobain S.A.
• BASF SE
• Johns Manville
• Kingspan Group PLC
• Lloyd Insulations (India) Limited
• Owens Corning
• ROCKWOOL International A/S
• U.P. Twiga Fiberglass Limited
• Knauf Insulation GmbH
• L'ISOLANTE K-FLEX S.P.A