Investing in Fire Safety: Fireproof Insulation Industry Fuels Market Growth
Fireproof insulation is a type of insulation that is intended to keep fires from spreading by preventing the spread of heat and smoke. Insulation can be made of a variety of materials, including fiberglass, mineral wool, and vermiculite, depending on the type. Fireproof insulation is commonly used in building walls, ceilings, and floors, as well as electrical and HVAC systems. As building regulations become more stringent, the demand for fireproof insulation is increasing, with many countries now requiring the use of fireproof insulation in certain types of buildings. Fireproof insulation is also gaining popularity due to its ability to help reduce energy costs while also being fire-resistant.
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The report "Fireproof Insulation Industry by Material (Glass Wool, Stone Wool, Plastic Foam & Others), Application (Residential Buildings, Commercial Buildings), Region (North America, Europe, Asia-Pacific, Middle-East & Africa, South America) - Global Forecast", The global fireproof insulation market size was expected to reach USD 23.79 Billion by 2021, at a CAGR of 4.6%.
By application, the residential buildings segment is anticipated to dominate the global fireproof insulation market
The residential buildings segment is expected to dominate the global fireproof insulation market throughout the forecast period. This is due to the increasing demand for fireproof insulation products in residential buildings, such as walls, ceilings, and roofs, to provide better thermal insulation and fire safety. Stringent government regulations and increased consumer awareness of fire safety are driving up demand for fireproof insulation products in residential buildings. Furthermore, rising demand for energy-efficient buildings is propelling the residential buildings segment forward.
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Glass wool is the most commonly used material in the global fireproof insulation market
Glass wool insulation is made from recycled glass. It is created by spinning melted glass into a fine fibre, which is then combined with a binder and formed into a variety of shapes. It is frequently used to insulate walls, attics, and other areas where temperature control is critical. Because of its fire resistance and low cost, glass wool is a popular choice for fireproof insulation. It is also very energy efficient because it can prevent heat or cold transfer through the building envelope. Glass wool can absorb and reduce noise, making it an excellent soundproofing material.
Europe is the most dominant region in the global fireproof insulation market
Europe is the largest and most dominant region in the global fireproof insulation market, accounting for more than 35% of the market. This is due primarily to the presence of well-developed and mature insulation markets, such as Germany, France, and the United Kingdom, which have stringent fire safety regulations and many prominent insulation product manufacturers. Furthermore, rising demand for fireproof insulation in the region due to increased fire safety awareness and rising demand from the construction and automotive industries is driving market growth. The presence of stringent regulations and government initiatives to promote fire safety are aiding the growth of the European fireproof insulation market.
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Some of the key players operating in the global fireproof insulation market include 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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