Faced fire-resisting panels are used in the construction of the fireproof building for commercial as well as residential use. The growing industrialization and awareness about fire safety are driving the growth of the global fire-resistant panels market. Some fire and safety regulatory standards have been implemented by various companies.This growth is primarily driven by Increasing Building & Construction Industry and Rising Industrialization in Developing Economy.
Globally, a noticeable market trend is evident Growing Awareness about Fire Safety among People is Increasing the Demand for Fire Resistant Panels. Major Manufacturers, such as Kingspan Group (Ireland), Metecno Group (Italy), Assan Panel (Istanbul), Isopan (Italy), NCI Building System (United States), Tata Steel (India), Romakowski GmbH & Co. KG (Archello) (Germany), Lattonedil (Italy) and Isomec Srl (Italy) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Increasing Building & Construction Industry
- Rising Industrialization in Developing Economy
- Growing Awareness about Fire Safety among People is Increasing the Demand for Fire Resistant Panels
- Problems in Installing the Panel due to its Weight
- Lack of durability in some Fire Resisting Panels
Increasing Demand in Automotive Industry for Fire Resistant Panels and Growing Need of Protection in Warehouses with Large Stock
High Price of Faced Fire Resistant Panels and Extreme Weather Conditions and Risk from Pests might Hinder the Growth
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