Latin America fireproof insulation market to garner momentum through 2026: Global Market Insights, Inc

Global Market Insights, Inc., announces an ongoing comprehensive report on the "Fireproof Insulation Market".

This report provides an exhaustive account of the industry including:
o Fireproof insulation market size, historical from 2015 to 2019 and annual forecast from 2020 to 2026
o Major fireproof insulation industry trends, technology evolution, economic indicators and business challenges
o Regulatory and geopolitical trends impacting the industry
o Business drivers and pitfalls impacting key regional markets
o Competitive landscape of the industry and detailed profiles on the major companies

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Growing concern over environmental sustainability and climate change has propelled the demand for efficient insulation materials in residential and commercial buildings. Proper insulating can help reduce electricity bills and improve comfort. Numerous energy-efficiency norms have created the need for advanced insulation materials, such as fireproof insulation. These materials are increasingly gaining traction in construction applications as a proactive approach to eliminate the risk of potential fire hazards.

Glass wool or fiberglass, plastic foam, and stone wool are among the commonly materials in fireproof insulation. Stone wool is anticipated to witness robust demand during the forecast period. Stone wool, also called rock wool or mineral wool, exhibits excellent exceptional thermal, fire and acoustic. In case of a fire emergency, the insulation acts as a fire barrier, slowing down fires and giving fire services enough time to get things under control.

Currently, many conventional insulation materials are being replaced by materials that are more natural and sustainable, such as stone wool. In addition to exceptional fire and heat insulation, easy installation makes the material desirable in modern residential and commercial projects.

Increasing number of fire incidents will undoubtedly boost the material adoption in developed as well as developing nations. The U.S. Fire Administration (USFA) reported a total of 970 residential building fire fatalities across the country between January and May 2020. Similar trends and growing popularity of stone wool will augment fireproof insulation market forecast.

Fireproof insulation materials are prominently used across residential, commercial, and industrial buildings. Industrial application segment is poised to witness healthy growth during the analysis timeframe. These materials are gaining significant prominence in chemical, oil & gas, mining, and manufacturing industries to minimize the risk of fire emergencies. In 2016, the National Fire Protection Association (NFPA) reported that nearly 37,000 fires occur at industrial and manufacturing facilities each year.

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From a regional standpoint, Latin America fireproof insulation industry will witness substantial growth in the upcoming years. The region, led by Brazil and Argentina, has witnessed a substantial growth in urban population. Recent statistics suggest that Brazil's urban population reached 86.8% in 2019.

Rapid urbanization over the past decade has resulted in large-scale residential and construction projects. Considering the current rate of urbanization, the region is expected to invest heavily in infrastructure development, which will certainly open lucrative opportunities for fireproof insulation industry players.

A few notable manufacturers of fireproof insulation materials mentioned in the report include BASF SE, Rockwool International, Berkshire Hathaway, Knauf Insulations GmbH, Owens Corning, Kingspan Group OY, GAF, Paroc Group, and Saint Gobain, among many others.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.