Global Forecast Fireproof Insulation Market

August 08th 2016 Mumbai, India: Bharatbook.com announces a report on “Fireproof Insulation Market by Material, Application, Region - Global Forecast to 2021”. The energy-saving initiatives and modifications in building regulations have aided the growth of the market in the region.

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...