Fireproof Insulation Market Industry Analysis Report, Share, Trends, Forecast from 2016 - 2024
Global construction market was valued at over USD 8.5 trillion in 2015 and may surpass USD 10.5 trillion by 2024.
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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%.
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.
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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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