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The global fire protection materials market size is projected to reach USD 4.0 billion by 2024, growing at a CAGR of 8.5%. Increased demand for passive fire safety systems fueled by stringent building codes and fire prevention policies is driving the fire protection materials market. The key market for fire protection materials worldwide is North America, followed by Europe and APAC.
Fire safety coatings are coating systems that need to be applied to structural components in building and construction across several industries to provide ample rescue and evacuation time during fire incidents. Increased use of fire protection coatings in construction and a gradual rise in the use of fire protection coatings have resulted in stringent fire safety standards and regulations by governments, as well as insurance firms, and rapid urbanization. Fireproofing coatings are primarily two-layer coatings consisting of an active layer which, when exposed to temperature rises, acts as a barrier and a top coat which not only protects the first layer from water spills and scratches, but also provides an attractive matt finish to the wooden surface.
Key Segments of the Global Fire protection materials Market
Type Overview, 2018-2028 (USD Billion) (Tons)
Application Overview, 2018-2028 (USD Billion) (Tons)
Reasons for the study
What does the report include?
Who should buy this report?
Fire-resistance and reaction-to-fire are two main aspects of fire performance. Fire-resistance refers to the ability of a material or device to withstand exposure to high temperatures, based on thermal insulation and mechanical integrity evaluations. Silicone-based flame retardant coatings are convenient and effective for reducing the flammability of substrate materials. Increased customer demand for intumescent paints or coatings in construction and other structures as fire protection materials is a driving factor in the growth of the market for fire protection materials.
The advancement of technology in overall fire protection materials would help to fuel the demand of the market for fire protection materials in the forecast period referred to above. Fluctuations in raw material costs, along with over-dependence on raw material imports, are a major problem for local and domestic manufacturers. The volatility in the price of raw materials can also impede the growth of the demand for fire safety materials.
Type Segment
During the forecast era, coatings are anticipated to lead the industry. The fire protection materials market is divided according to type, into coatings, mortar, sealants & fillers, sheetsboards, sprays, preformed products, putty, and cast-in devices, and others (ablative and perlite). Coatings are expected to lead the market. This is due to its use for fire proofing in the construction industry. The rise of steel use plays an enormous role in the construction industry's demand for coatings. This is due to its use in the building sector for fire proofing. Steel consumption growth plays an enormous role in the market for coatings in the construction industry. The market by form is greatly influenced by the increasing worldwide construction industry.
Application analysis
During the forecast era, commercial construction is expected to dominate the fire safety materials market. Its use is motivated by the rising need for a passive fire protection system and increased focus on fire safety codes and regulations. Increased commercial development activities are the result of higher capital investment on all forms of shopping centres, including hospitals, colleges, schools, and offices. The growth of the retail sector plays a key role in commercial expansion and will therefore have a major effect on the commercial application of this industry.
North America has a share of over 20% and is predicted to see the highest pace during the forecast period. One of the biggest industries worldwide is the US building industry. The construction sector has witnessed a steady increase in recent growth. The industry is expected to continue to report a 4.5 percent growth rate through 2020.
With the growing pattern of multi-family development and increasing migration to towns, the US Census Bureau has issued more permits for the construction of new residential buildings. These construction activities are expected to increase the demand for fire safety materials in the nation during the forecast era. Since the dramatic fall in 2016, oil and gas drilling and development activities in the United States have increased. This can be due to factors such as rising crude oil prices, a rise in shale resource exploration, and the country's increased exports of natural gas. In 2019, the Beaumont refinery was built by Exxon Mobil Corporation. It is expected that the expansion will make the facility the largest in the United States.
The global fire protection materials market size is projected to reach USD 4.0 billion by 2024, growing at a CAGR of 8.5%. Increased demand for passive fire safety systems fueled by stringent building codes and fire prevention policies is driving the fire protection materials market. The key market for fire protection materials worldwide is North America, followed by Europe and APAC.
Fire safety coatings are coating systems that need to be applied to structural components in building and construction across several industries to provide ample rescue and evacuation time during fire incidents. Increased use of fire protection coatings in construction and a gradual rise in the use of fire protection coatings have resulted in stringent fire safety standards and regulations by governments, as well as insurance firms, and rapid urbanization. Fireproofing coatings are primarily two-layer coatings consisting of an active layer which, when exposed to temperature rises, acts as a barrier and a top coat which not only protects the first layer from water spills and scratches, but also provides an attractive matt finish to the wooden surface.
Key Segments of the Global Fire protection materials Market
Type Overview, 2018-2028 (USD Billion) (Tons)
Application Overview, 2018-2028 (USD Billion) (Tons)
Reasons for the study
What does the report include?
Who should buy this report?
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.2.2 Opportunities
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6. Regulatory Landscape
4.7 COVID-19 Impact Analysis
Chapter 5 Fire protection materials Market by Type
5.1 Introduction
5.1.1 Coatings
5.1.2 Sealants and Fillers
5.1.3 Mortar
5.1.4 Sheets/Boards
5.1.5 Spray
5.1.6 Preformed device
5.1.7 Putty
5.1.8 Cast in devices
Chapter 6 Fire protection materials Market by Application
6.1.1 Commercial
6.1.2 Industrial
6.1.3 Residential
6.1.1.1 Reporting and Analytics
Chapter 7 Competitive Landscape
7.1 Overview
7.2 Strategic Initiatives
7.2.1 Mergers & Acquisitions
7.2.2 New Type Launch
7.2.3 Investments
7.2.4 Expansion
7.2.5 Customer Targeting
Chapter 8 Company Profiles
8.1 Hilti corporation
8.1.1 Overview
8.1.2 Types and Services Portfolio
8.1.3 Recent Initiatives
8.1.4 Company Financials
8.1.5 SWOT
8.2 3M
8.2.1 Overview
8.2.2 Types and Services Portfolio
8.2.3 Recent Initiatives
8.2.4 Company Financials
8.2.5 SWOT
8.3 Specified Technologies
8.3.1 Overview
8.3.2 Types and Services Portfolio
8.3.3 Recent Initiatives
8.3.4 Company Financials
8.3.5 SWOT
8.4 ETEX
8.4.1 Overview
8.4.2 Types and Services Portfolio
8.4.3 Recent Initiatives
8.4.4 Company Financials
8.4.5 SWOT
8.5 Morgan Advanced Materials
8.5.1 Overview
8.5.2 Types and Services Portfolio
8.5.3 Recent Initiatives
8.5.4 Company Financials
8.5.5 SWOT
8.6 Akzo Nobel NV
8.6.1 Overview
8.6.2 Types and Services Portfolio
8.6.3 Recent Initiatives
8.6.4 Company Financials
8.6.5 SWOT
8.7 Jotun
8.7.1 Overview
8.7.2 Types and Services Portfolio
8.7.3 Recent Initiatives
8.7.4 Company Financials
8.7.5 SWOT