Fireproof Insulation Market is predicted to grow at approximately 4.5% by 2023

(IT-NEWSWIRE.COM, October 12, 2017 ) Fireproof Insulation is an insulating material that is prepared with the help of a fire retardant material. Fireproof Insulation is usually employed to tackle and encounter the dispersion of flames when situations such as a fire disaster occur. Several government initiatives such as rebates and tax credits are fuelling the growth of the market.

The market has been analyzed based on materials, applications, and regions. On the basis of applications, Global Fireproof Insulation Market is segmented as residential buildings, commercial buildings, and industrial buildings, out of which, residential buildings segment dominates the application segment of the global fireproof insulation market. The growing residential sector across the globe along with the rising awareness regarding fire safety regulation driving the demand of fireproof insulation market. The increasing number of townhouses, condominiums, cottages, and apartments, where people spend their much time, is also fuelling the demand of the market. Fireproof insulation is adopted in schools, and hospitals as well.

The Global Fireproof Insulation Market was valued at USD 18.05 Billion in 2015, and is projected to grow at a CAGR of 4.5% during the forecast period.

Glass Wool Dominates the Material Segment of the Market:
On the basis of materials, Global Fireproof Insulation Market is segmented as mineral wood, plastic foam, glass wool, cellulose, and others. Glass wool material dominates the material segment of the Global Fireproof Insulation Market mainly due to the properties such as light weight, superior tensile strength, and high resilience, ease of use and environment-friendliness of the material. As per British Standards, glass wool products are capable of providing class 0 and class 1 level safety.

Plastic foam is another major Fireproof Insulation Material. It is non-fibrous in nature. It includes polyurethane, phenolic foam, polystyrene and polyisocyanurate. It is used in different forms such as rigid board insulation and spray applied insulation. Hence it is the fastest-growing material segment of the Global Fireproof Insulation Market.

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Market Research Analysis:
On the basis of regions, Global Fireproof Insulation Market is segmented as North America, Europe, Asia-Pacific, and Rest of the World (RoW). European region dominates Global Fireproof Insulation Market. Building safety codes in countries such as U.K., Germany, and France are driving the demand of the market in the region. Increasing government regulation to reduce greenhouse gasses emissions is also fuelling the demand of the market in this region.

Asia-Pacific region is expected to be the fastest growing market during the forecast period mainly due to rapid growth in construction industry in countries such as China, and India.

Scope of the Report:
This study provides an overview of the Global Fireproof Insulation Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Fireproof Insulation Market by its type, end user and region.

By Materials
• Mineral Wool
• Plastic foam
• Glass wool
• Cellulose
• Others

By Application
• Residential Buildings
• Commercial Buildings
• Industrial Buildings

By Region
• North America
• Asia Pacific
• Europe
• Rest of the World

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Fireproof Insulation Market is predicted to grow at approximately 4.5% by 2023