The Strategy of Expansions has been Most Important Growth Strategy Adopted by the Fireproof Insulation Manufacturers

The global fireproof insulation market is expected to reach USD 23.79 Billion by 2021, at a CAGR of 4.6% from 2016 to 2021. Key driving factors for the growth of the fireproof insulation market are the growth of the construction industry in emerging economies such as China, India, and Brazil and stringent building codes for fire safety in the developed countries such as the U.S., Canada, and Germany.

The global fireproof insulation market is a competitive market, with key players adopting various growth strategies to maintain or increase their shares in the global fireproof insulation market. The key companies offering fireproof insulation have been mainly involved in expansions and mergers & acquisitions. They have been rigorously adopting these strategies to strengthen their position in the global fireproof insulation market. The large players operating in this market have been taking initiatives to enhance their global reach, while small companies have concentrated increasingly on the development of new products.

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The strategy of expansions has been most important growth strategy adopted by the fireproof insulation manufacturer. This strategy accounted for a share of 44% of all strategic developments that took place in the market. The strategy of new product launches was the second-most preferred growth strategy adopted by the manufacturers and accounted for a share of 27% of the total development strategies that took place in the global fireproof insulation market.

Rockwool International A/S (Denmark), Knauf Insulation GmbH (Germany), Saint-Gobain S.A. (France), Owens Corning Corporation (U.S.), Berkshire Hathaway, Inc. (U.S.), BASF SE (Germany), and Paroc Oy (Finland) are some of the key players operational in the fireproof insulation market.

Rockwool International A/S (Denmark), is the leading player in the fireproof insulation market. The company offers a wide range of fireproof insulations. The company follows both organic as well as inorganic growth strategies to increase its share in the global fireproof insulation market. The company serves both commercial and residential markets and has effectively managed expansion of its existing or new facilities, development of new products, and acquisition of its sales partners to expand its product portfolio globally. For instance, in June 2016, Rockwool International established a new production facility in Poland with an investment of 80 million Euros. This new production line will help Rockwool to meet the growing demand for stone wool insulation in the Polish market. In December 2015, Rockwool expanded production capacity at its plant in Bohumin, Czech Republic. This is expected to help the company to expand its presence in Central Eastern Europe.

BASF SE (Germany) is another key player operating in this market. This company manufactures and supplies a wide range of fireproof insulations. The products range from performance polymers, polyurethanes, and basotect plastic foam fireproof insulation. BASF also serves both commercial as well as residential insulation market. The company has adopted new product launches as the key growth strategy over the years. BASF launched a new XPS Styrodur 3000 CS under the brand Styrodur, in January 2015. The wide range of brands and products and active operations make BASF a leading player in this market.