Fireproof insulations are useful in preventing the spread of flames in the event of a fire and in protecting human lives or the load-bearing structure of a building. They aid in reducing heat transfer, thereby maintaining temperature levels and energy consumption. As a result of the growing concern about energy conservation, the global market for fireproof insulation is expected to grow at a significant rate. Cellulose, fiberglass, polystyrene (EPS), mineral wool, and polyurethane foam are all common materials used in fireproof insulation. Residential, industrial, and commercial buildings all use these insulations. The global fireproof insulation market is projected to reach USD 23.79 Billion by 2021, at a CAGR of 4.6% between 2016 and 2021. Stringent building codes in developed economies, reduction of greenhouse gases, and energy efficiency are some of the factors driving the global fireproof insulation market.
The global fireproof insulation market is a competitive market, with key players adopting various growth strategies to maintain or increase their shares in the global fireproof insulation market. The key companies offering fireproof insulation have been mainly involved in expansions and mergers & acquisitions. They have been rigorously adopting these strategies to strengthen their position in the global fireproof insulation market. The large players operating in this market have been taking initiatives to enhance their global reach, while small companies have concentrated increasingly on the development of new products between 2011 and 2016.
The strategy of expansions has been most important growth strategy adopted by the fireproof insulation manufacturers between 2011 and 2016. This strategy accounted for a share of 44% of all strategic developments that took place in the market between 2011 and 2016. The strategy of new product launches was the second-most preferred growth strategy adopted by the manufacturers and accounted for a share of 27% of the total development strategies that took place in the global fireproof insulation market between 2011 and 2016.
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), and Paroc Oy (Finland) are some of the key players operational in the fireproof insulation market.
