Market key trends:
One of the key trends spurring growth of the fireproof cladding market is the increasing emphasis on stricter fire safety regulations across countries. Several nations have made amendments in their fire safety regulations in recent years for commercial, industrial and residential projects. For instance, in the U.S new buildings are now required to have non-combustible exterior walls within certain limits as per the International Building Code. In the European Union as well, fire safety standards are continuously getting stringent. This is propelling the replacement of conventional cladding with fireproof variants to adhere to changing norms, thereby driving the market growth.
Key Takeaways
The Global Fireproof Cladding Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing commercial construction activities globally. The market size is projected to reach US$ 29.62 Bn by 2030 from US$ 17.62 Bn in 2023.
