NEW YORK, Nov. 17, 2016 /PRNewswire/ -- "The global fireproof insulation market size is projected to reach USD 23.79 billion by 2021"
The global fireproof insulation market is projected to reach USD 23.79 billion by 2021, from USD 18.16 billion in 2015, registering a CAGR of 4.6% between 2016 and 2021. The stringent regulatory environment pertaining to the reduction of greenhouse gases and growing construction industry are some of the factors that are expected to drive the growth of the global fireproof insulation market.
"Residential Buildings: The largest and fastest-growing application segment of the market"
Residential Buildings segment is the largest and the fastest-growing application segment of the global fireproof insulation market in 2015. Residential buildings are the ones that are used for residential purpose. Residential buildings are usually smaller in size than commercial buildings. Fireproof insulation is equally important in the residential buildings as in commercial buildings. If insulated properly, it can provide extra escape time of several minutes depending on the building size and material used to insulate. This segment dominates the market owing to the stringent building codes and fire safety regulations in the developed countries such as the U.S., Russia, Germany, among others.
"Plastic foam: The fastest-growing material segment of the market"
Plastic foam is the fastest-growing material segment of the global fireproof insulation market. This growth can be attributed to the properties of plastic foam insulation materials as plastic foam insulation materials are non-fibrous in nature and therefore personal protection equipment are not required during mounting. Different types of plastic foam insulation materials include polystyrene, polyurethane, polyisocyanurate, and phenolic foam. These material possess decent fire resistance according to the British Standard 476 and superior R-value. Plastic foams are used in different forms such as rigid board insulation and spray applied insulation.
"Asia-Pacific: The fastest-growing regional market for fireproof insulation"
Asia-Pacific is the fastest-growing market for global fireproof insulation, globally. The energy-saving initiatives and modifications in building regulations have aided the growth of the market in the region. With the presence of emerging economies, such as China, Indonesia, and India, the construction sector in this region is expected to witness significant growth in the coming years. This is consequently expected to lead to the growth of the fireproof insulation market in Asia-Pacific. Some of the key players operational in the market in Asia-Pacific are Knauf Insulation (U.S.), Uralita (Spain), Rockwool International A/S (Denmark), Recticel (Belgium), Kingspan Group plc (Ireland), Saint-Gobain S.A. (France), and BASF SE (Germany).
Breakdown of profile of primary participants:
- By Company Type: Tier 1 – 36%, Tier 2 – 46%, and Tier 3 – 18%
- By Designation: C-Level – 46%, Director Level – 36%, Others- 18%
- By Region: North America – 28%, Europe – 27%, Asia-Pacific – 18%, Middle-East & Africa – 18%, Latin America – 9%
As a part of qualitative analysis, the report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as 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), Paroc Oy (Finland), and others.
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This report covers the following key aspects:
- What will be the market size by 2021 and what will be the growth rate
- What are the key market trends
- What is driving this market
- What are the challenges that impact market growth
- Who are the key players in this market
- Global report covers key regions, such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, along with country-wise analysis
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