SELBYVILLE, Del., April 15, 2021 /PRNewswire/ — According to the latest report “Fireproof Insulation Market by Material (Fiberglass, Mineral Wool, Cellulose, Polystyrene, Polyurethane), Application (Residential, Non-residential), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of fireproof insulation will cross $30 billion by 2027. The rising adoption of thermal insulative materials in energy-efficient buildings, stringent building regulations, and the expanding construction sector will propel the market growth.
Polystyrene material segment is anticipated to hold more than 30% of the market share by 2027. It is a widely used material for heat insulation as it has small air bubbles trapped inside the material, restricting the heat flow through the material. Polystyrene foam is combustible like other organic materials, however, when it is installed with additional flame retardant material does not present any fire hazard. The material is also governed by the Canadian Materials Construction Centre (CMCC) and the International Code Council (ICC) to ensure that consumers adhere to proper safety practices.
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The non-residential sector contributed major revenue to the fireproof insulation market in 2020. The sector is estimated to flourish, especially through infrastructure developments in developing countries such as China and India. Increasing direct foreign investments and a rise of new commercial districts in the service sector in these nations provided a meteoric rise to commercial construction, driving the demand for fireproof insulations.
Europe fireproof insulation market will hold more than 30% of revenue share by 2027. The stringent building and construction codes that mandate the use of fireproof insulation materials in many buildings are augmenting the market value in the region. Additionally, Europe is a leading participant in global carbon footprint reduction initiatives and is significantly investing in the development of sustainable and energy-efficient structures. Hence, the demand for energy efficiency has already pushed the market expansion. Moreover, the rising consumer awareness in the region regarding the profitable advantages of fireproofing materials is further catalyzing product acceptance. The European region is also witnessing substantial developments in the hospitality sector, which is fueling the construction of new hotels and resorts, thereby contributing to the fireproof insulation material demand. However, the current COVID-19 health crisis and another wave of coronavirus-affected cases are likely to hinder the market progression in some countries such as France, the UK, and Italy.
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Prominent fireproof insulation market participants are BASF SE, Knauf Insulation, Rockwool International A/S, Saint-Gobain SA, Owens Corning Corporation, Kingspan Group PLC, GAF, Johns Manville, Sipla Solutions, and Beijing New Building Material Co., Ltd.
Table of Contents (ToC) of the report:
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
3.4 Raw material trends
3.5 Innovation & sustainability
3.5.1 Patent analysis
3.5.2 Production process
3.5.3 Future trends
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Regulatory trends
3.8 Growth potential analysis
3.9 Regional price trends
3.9.1 Cost structure analysis
3.9.2 Price by material
3.10 Competitive landscape
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 Impact of COVID-19 on the market, by application
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Fireproof Insulation Market Growth Predicted at 4% Through 2027: GMI
Polystyrene material segment will account for more than 30% of the fireproof insulation market share by 2027.
SOURCE Global Market Insights Inc.