With the cases of fire breakouts across various commercial, residential, and industrial sectors intensifying almost every year worldwide, the need for proper fireproof insulation is now taking an important turn. A report by WHO states that nearly 180,000 deaths occur every year from fires alone. These statistics pave way for the overall development of fireproof insulation market.
A recent research by Global Market Insights, Inc. predicts that the global market for fireproof insulation would record an annual remuneration of $30 billion by 2027, given the penetrating adoption of thermal insulative materials in energy-efficient buildings, expanding construction industry, and stringent building legislations.
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Given below is a glimpse of some of the pivotal trends that are likely to reshape the future of fireproof insulation business space:
Ascending use of polystyrene for heat insulation
When considering the material for designing fireproof insulation solutions, it would be important to mention that polystyrene is foreseeing tremendous demand in the global market, mainly due to the presence of air bubbles trapped inside the material, that restrict the flow of heat through it.
The polystyrene foam is flammable like other organic materials, however, when deployed with additional flame retardant material, it does not present any fire hazard. Importantly, the material is also regulated by the International Code Council (ICC) and the Canadian Materials Construction Center (CMCC) to make sure that consumers adhere to proper safety practices. Having said that, the polystyrene material segment is projected to take over a 30% share in the global market by 2027.
Stellar infrastructure developments across non-residential sector
The non-residential sector has potentially contributed a major stake to the overall fireproof insulation market in the previous years. Nevertheless, the market is also predicted to showcase steady growth in the ensuing years. Thanks to the expanding infrastructure developments in various emerging countries including India and China.
In addition to this, increasing direct foreign investments and emergence of new commercial districts in the service sector in these regions offered a meteoric rise to commercial construction, fueling the demand for fireproof insulations.
Focus towards sustainable and energy-efficient structures in Europe
Some of the prominent countries in the European continent have been, over the years, emphasizing on introducing various regulations and laws that govern the development of sustainable and energy-efficient structures in the continent. This factor is perhaps opening new growth avenues for fireproof insulation market in Europe.
Industry analysts have claimed that the regional fireproof insulation market would accrue a business share of 30% in the upcoming years; predominantly driven by rising consumer awareness pertaining to the lucrative advantages offered by fireproofing materials. Needless to mention, substantial developments in the hospitality sector, given the expanding construction of new hotels and resorts are as well catalyzing the market growth.
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Ongoing product developments by industry behemoths
The global fireproof insulation industry is highly consolidated and boasts of the presence of various leading producers and manufacturers who are aggressively involved in various strategic initiatives including mergers, acquisitions, product diversifications, and others. These initiatives are likely to augment the companies’ profitability scale in the overall market.
One such company, ROCKWOOL Ltd., had in early 2020, launched DuoDuct, a non-combustible thermal insulation solution for square and rectangular external ductwork to combat the risk of fire spread in the buildings. This novel move is estimated to position ROCKWOOL at a prominent position in the overall fireproof insulation industry.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Base estimates & working
1.2.1 North America
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculations
1.3.1 COVID-19 impact calculations on industry forecast
1.4 Data Sources
Chapter 2 Fireproof Insulation Market Summary
2.1 Global fireproof insulation industry 360° synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Application trends
2.1.4 Region trends
Chapter 3 Fireproof Insulation Market Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Profit margins
3.3.2 Value addition
3.3.3 Distribution channel analysis
3.3.4 Vendor matrix
184.108.40.206 List of key raw material suppliers
220.127.116.11 List of key manufacturers/distributors
3.4 Raw material trends
3.5 Innovation & sustainability
3.5.1 Patent analysis
3.5.2 Production process
3.5.3 Future trends
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