The global Fireproof Cladding Market is estimated to be valued at US$ 17.62 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fireproof cladding is used to protect buildings and infrastructures from fire hazards. It provides insulation and prevent structural damages. Properties like fire resistance, durability and strength make fireproof cladding ideal for commercial and industrial buildings.
Market key trends:
One of the key trends in the fireproof cladding market is rising demand from data centers. With growth in cloud computing, data usage and higher investments in data center infrastructure, the demand for fireproof cladding is increasing from this end use industry. Data centers require materials that can withstand high temperatures for extended period without structural failure or spreading fire. Fireproof cladding meets these criteria, making it highly suitable for data center wall claddings and facades. This rising demand from cloud computing and data centers is expected to continue driving the fireproof cladding market over the forecast period.
Segment Analysis
The global fireproof cladding market is segmented by type, end-use industry and geography. By type, the market is divided into metal-based, concrete-based, and others. Among these, the metal-based segment dominated the market in 2022 and is expected to maintain its dominance over the forecast period. Metal-based cladding such as stainless steel and aluminum find wide usage due to their high fire resistance, durability and strength.
Key Takeaways
The Global Fireproof Cladding Market Size is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period, due to increasing stringent government regulations regarding fire safety standards in buildings.
Regional analysis: Asia Pacific dominated the global market in 2022 and is expected to remain the fastest growing as well as largest region during the forecast period. This can be attributed to rapid industrialization and infrastructure development across developing nations such as China and India.
Key players: Key players operating in the fireproof cladding market are Tata Steel, Alcoa Inc., Etex Group, James Hardie Industries PLC, CSR Limited, Nichiha Corporation, Boral Limited, Axiall Corporation, Cembrit Holding A/S, Compagnie de Saint Gobain SA. The global market is moderately concentrated and dominated by few international players who have established brand presence with a wide product portfolio.
Read More: https://www.ukwebwire.com/fireproof-cladding-market-size-share-and-growth-forecast-2023-2023/
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