Asia Pacific Fireproof Insulation Market Outlook and Strategic Insights by 2027

The Asia Pacific fireproof insulation market accounted to US$ 448.59 million in 2019 and is projected to account US$ 632.98 million by 2027; it is expected to grow at a CAGR of 4.5% during 2019–2027.

Fireproof insulation material assists in reducing the damage caused by fire. The fireproof insulation materials are available in five forms—foam; chopped fibers; board or block insulation; fibrous mats; and textiles, films, and foils. The resistance of each form depends on the material from which it is made. Insulation materials, such as foam, play a significant role in providing insulation to buildings. It fills the gaps that can potentially leak air and create an energy-efficient surrounding in a building. Owing to its effective and powerful insulation properties, spray foam attracts investments from customers to protect their properties in case of fire outbreaks. Polyurethane spray foam insulation is another type of foam utilized to fill and insulate large voids and surfaces. This material helps improve indoor air quality and reduces cooling and heating costs while decreasing energy consumption. Companies such as ROCKWOOL International A/S, John Manville and Knauf Insulation GmbH provide fireproof insulation. The performance of insulation heavily relies on installation. In this, assistance of professionals is required to ensure installation of high quality and certified insulation material. Several government authorities across the world are supporting the installation of different types of insulation materials for floor, roof, ceiling, and other areas to protect residents and workers during the case of fire or any other mishaps.

The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of September 2020, US, India, Brazil, Russia, Mexico, South Africa, Spain, Argentina and UK are among the worst-affected countries in terms confirmed cases and reported deaths. The pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdowns of chemicals and materials industry and disruptions in supply chains due to lockdown of countries has created a strain on the supplies of the various products offered by this industry. In Asia Pacific, India is the worst-hit country by the COVID–19 outbreak. The government of various countries in the Asia Pacific has taken necessary steps to reduce its effects by announcing lockdowns, and thus, impacting the growth of the fireproof insulation market. The introduction of lockdowns has resulted in the halt of construction projects in the region, which negatively impacted the growth of fireproof insulation in the region. After a prolonged lockdown, various countries have started easing the restrictions. For instance, the government of India started the unlock phase in which it allowed the construction activities to resume. The COVID–19 pandemic will have a short-term impact on the APAC fireproof insulation market; however, the market will recover in the coming years.   

Asia Pacific Fireproof Insulation Market

Market Insights

Growing Demand for Energy Efficient Insulation Materials to Lower Greenhouse Emission

The primary function of insulation is to check and regulate heat flow inside and outside of the house. Energy efficient solutions help increase energy efficiency in businesses and homes while saving money. Various types of energy efficient solutions are being used widely in residential and industrial sectors, in turn contributing toward reducing greenhouse emissions. Installation of insulation results in massive reduction of energy waste and bill amount. The growing demand for energy-efficient insulation materials to reduce the greenhouse emissions and stringent government mandates regarding insulation measures at properties are the major factors that are expected to support the growth of the fireproof insulation market. However, the lack of awareness and limited number of construction projects in the underdeveloped countries are the major factors restricting the fireproof insulation market growth. The growing adoption of fireproof insulation in the industrial End Users is creating lucrative growth opportunities for the market players.

Material Based Insights

The fireproof insulation market based on material has been segmented into glass wool, mineral wool, plastic foam, fiberglass, polyurethane foam and others. In 2019, the glass wool segment accounted for a larger share of the Asia Pacific fireproof insulation market, whereas the market for fiberglass is expected to grow at a higher CAGR during the forecast period. Glass wool is made from recycled glass and fused sand, such as soda ash, limestone, and sand, which helps in trapping air and blocking heat, noise, and cold. This property of this material is embraced of lightweight, pest-proof, and flexible, due to which it is widely used in electrical and thermal insulation purpose in buildings. Glass is spun into fibers and then combined with plastic polymers to make fiberglass, which is a noncombustible material. Fiberglass insulation is commonly used in home insulation, as this material is affordable, lightweight, easy to install, and readily available in a variety of sizes. This type of insulation consists of 20–30% recycled content. The loose-fill fiberglass insulation offers an easy, rapid, and economical method to insulate wall cavities and attic floors of the residential properties. On the contrary, when compared with mineral wool, fiberglass insulation is not resistant to water. It gets soggy when exposed to water, thereby losing insulation properties. This aspect might hinder the installation of fiberglass in commercial properties.

Asia Pacific Fireproof Insulation Market, by Material – 2019 and 2027

End User Based Market Insights

Based on end user, the Fireproof Insulation market is segmented into residential and commercial. In 2019, the residential segment dominated the Asia Pacific fireproof insulation market; whereas, the commercial segment is expected to grow at the fastest rate during 2020–2027.  The number of construction projects in the residential sector is rising at an exponential rate across economies such as UK, Germany and Russia. While constructing houses, varied types of insulation are used in which fireproof is one of the insulations. Sometime the homeowners install materials and blankets in place as per the need, whereas other types of insulation need professional installation. In residential constructions, foam boards are majorly installed on inner side of the wall in existing houses and outer side of the wall in new constructions. The commercial sector consists of complexes, office buildings, and industries. In commercial properties, the insulation is utilized for ducts, storage tanks, fluid lines, and pipes. Slag wool and rock wool types of mineral wool are commonly used to maintain heat and conserve energy. In addition, fiberglass materials offer soundproofing, water resistance, and heat and fire control. Installation of varied insulation in commercial and industrial properties will positively impact the growth of fireproof insulation.

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Asia Pacific Fireproof Insulation Market: Strategic Insights

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Product development, merger and acquisition, and business planning are the commonly adopted strategies by companies to expand their product portfolio. Saint Gobain S.A., BASF SE, Johns Manville, Kingspan Group PLC, Owens Corning, ROCKWOOL International A/S, Knauf Insulation GmbH are amongst the market players implementing this strategy to enlarge the customer base and gain significant market share in Asia Pacific, which in turn permits them maintain their brand name in the Asia Pacific market.

Asia Pacific Fireproof Insulation Market, by Material

• Glass Wool
• Mineral Wool
• Plastic Foam
• Fibreglass
• Polyurethane Foam
• Others

Asia Pacific Fireproof Insulation Market, by End User

• Residential
• Commercial

Company Profiles

• Saint Gobain S.A.
• BASF SE
• Johns Manville
• Kingspan Group PLC
• Lloyd Insulations (India) Limited
• Owens Corning
• ROCKWOOL International A/S
• U.P. Twiga Fiberglass Limited
• Knauf Insulation GmbH
• L'ISOLANTE K-FLEX S.P.A

Asia Pacific Fireproof Insulation Market Regional Insights

The regional trends and factors influencing the Asia Pacific Fireproof Insulation Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Asia Pacific Fireproof Insulation Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Asia Pacific Fireproof Insulation Market Report Scope

Asia Pacific Fireproof Insulation Market Players Density: Understanding Its Impact on Business Dynamics

The Asia Pacific Fireproof Insulation Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Asia Pacific Fireproof Insulation Market are:

1. Saint Gobain S.A.
2. BASF SE
3. Johns Manville
4. Kingspan Group PLC
5. Lloyd Insulations (India) Limited

Disclaimer: The companies listed above are not ranked in any particular order.