New report on Fireproof Insulation Market Material Research & Forecast 2017-2024

Global Fireproof Insulation Market is one of the most growing businesses. Its size may observe steady growth over the foreseeable timeframe. It is processed from fire redundant material and protect against fire attacks which is prominently used in clothing, and building materials.

Strict government regulations in construction sector accompanied with rising environmental concerns regarding GHG reduction and low installation cost should drive industry growth.

Global construction market was valued at over USD 8.5 trillion in 2015 and may surpass USD 10.5 trillion by 2024. Increasing infrastructure spending along with rapid urbanization has led to rise in construction industry growth thereby positively influencing fireproof insulation market size

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Residential and commercial building accounted for highest portion of market share in 2015. Rapid industrialization along with rising economic standards has led to increase in infrastructural establishments.

Fire resistant apparel may witness significant growth in fireproof insulation market and was valued at USD 4.0 billion in 2015 and may exceed USD 5.5 billion by 2024, with gains at over 5.5%.

Global glass wool insulation market may surpass 5 million tons by 2024 owing to increase in construction spending in China, India, and Brazil. It is primarily light weight, superior tensile strength, and high resilience making it suitable for automotive, electronics, and aircraft industries.

Plastic foam is another dominating segment in fireproof insulation market and may witness steady growth over the forecast timeframe. It includes polyurethane, phenolic foam, polystyrene and polyisocynurate.

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U.S. plastic foam market size may register USD 26 billion by 2024 and register close to 2.5%. Rise in disposable income has led to increase in furniture, appliance, and bedding household products, may drive polyurethane foam market size.

Asia Pacific, driven by India, Japan and China fireproof insulation market size may witness favorable growth. Increasing government initiatives regarding building safety along with environmental concerns regarding GHG emissions may stimulate regional growth.

Fireproof insulation materials are made from wood fiber, cellulose and mineral wool which are used in buildings. Global mineral wool market size may generate over USD 15 billion by 2024, with gains at over 7%.

BASF has introduced Palusol protection panels which are classified as non-combustible building materials. The product is used to protect glazing, doors, cables, and pipes.

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