Europe Fireproof Insulation Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Materials; End Users Commercial and Residential

Growing Demand for Energy Efficient Insulation Materials to Lower Greenhouse Emission to drive Europe Fireproof Insulation market at CAGR of 3.1%

According to the latest study on “Europe Fireproof Insulation Market Forecast to 2027 - COVID-19 Impact and Analysis - by Materials (Glass Wool, Mineral Wool, Plastic Foam, Fiberglass, Polyurethane Foam, and Others); End Users (Commercial and Residential); and Country” the Europe Fireproof Insulation market was valued at US$720.71 million in 2019 and is projected to reach US$913.51 million by 2027; it is expected to grow at a CAGR of 3.1% during 2019-2027. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market, along with their developments.

The selection of appropriate insulation materials has become very crucial nowadays. As the objective of insulation is to blanket the house to provide a barrier against heat transfer, selecting an insulation material having fire-resistant properties is important. Almost all insulation materials are rated as fireproof. These materials can also be designed to provide resistance against electricity, fuels, chemicals, or solvents. Therefore, the customers are looking for natural insulation to contribute toward energy efficiency at their houses. Fireproof insulation material assists in reducing the damage caused by fire. The demand for fireproof insulation products is high in the residential sector owing to the strict building standards related to fire protection and increasing residential construction activity. In 2019, the glass wool segment dominated the European fireproof insulation market with a 27.4% share. 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. The material is spread in an attic to balance temperature inside the building. Glass wool absorbs sonic energy and is utilized to enhance the acoustic performance of ceilings, walls, roofs, and floors. The fiber of glass wool is noncombustible, and is therefore used as acoustic or thermal insulation. 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. However, the fiberglass segment is expected register a higher CAGR during the forecast period. Based on end user, the Fireproof Insulation market is categorized into residential and commercial. The residential segment is accounted for a major share of Europe fireproof insulation market.

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, 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 Europe fireproof insulation market has been analysed on the basis of historical, current, and future trends in countries such as France, Germany, Italy, the UK, Russia, and Rest of Europe. Countries in Western Europe are technologically advanced and urbanized; on the other hand, Eastern European countries are gradually urbanizing their cities. The urbanized Western European countries are experiencing decent surge in attractive commercial infrastructure such as office buildings, hotels, stadiums, hospitals, and airports with enhanced safety features, including thermal insulation. In addition, commercial infrastructure construction companies in Eastern Europe are emphasizing on robust technologies such as thermal or fireproof insulation to ensure secured infrastructure. According to Euro construct, the European construction industry is expected experience sluggish growth in the next couple of years. Euro construct in one of its reports published the following growth rate figures of construction industry in Europe; in 2017,2018,2019, and 2020, the industry registered the growth rate of 4.2%,3.1%,1.9%, and 1.5%, respectively, and it is likely to fall down to 1.4% in 2021. The dip in the performance of this industry is expected to reduce the demand for several products, solutions, and services associated with it, including fireproof or thermal insulation products. However, with the projected rise in the construction activities in Nordic countries, Spain, Portugal, Belgium, and Ireland, among others, the fireproof insulation market is also expected to grow in the coming years.

Recently, the World Health Organization (WHO) announced the outbreak of COVID-19, the novel form of a disease caused by the virus SARS-CoV-2, as a pandemic. This outbreak started in December 2019 in Wuhan, China, and later, it turned into a pandemic, causing numerous deaths worldwide. Fireproof Insulation are beneficial in reducing the damages cause by fire. The increase in focus towards dire security supports the demand for fireproof insulation. The outbreak of COVID-19 pandemic has severely impacted the chemicals & materials industry. The shutdowns of this industry and supply chain disruptions due to lockdown of countries has created a strain on the supplies of the products of this industry. Russia has the highest number of confirmed cases of COVID-19 morbidities in Europe. Owing to this pandemic, the European construction industry has witnessed an abrupt downturn in several major countries. The construction industry in Europe suffered its one of the biggest drops in activities after the building sites were closed, and the supply of safety equipment and workers were disrupted due to the pandemic. The drop in the construction activities in the region has directly affected the sales of the fireproof insulation products in Europe. However, companies such as Saint Gobain S.A. and BASF SE have reorganized themselves and have implemented protective measures to continue their operations.

The Europe fireproof insulation market is concentrated with several well-established players. A few of the key players in this market include are Saint Gobain S.A., BASF SE, Johns Manville, Kingspan Group PLC, Owens Corning, ROCKWOOL International A/S, Knauf Insulation GmbH and L'ISOLANTE K-FLEX S.P.A.

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• Highlights key business priorities in order to assist companies to realign their business strategies.
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• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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