Fire Protection Materials Market Overview
The Global Fire Protection Materials Market size was estimated at USD 3.17 billion in 2023 and is projected to reach USD 5.84 billion in 2030 at a CAGR of 9.1% during the forecast period 2023-2030.
Fire protection materials refer to materials that are employed to provide protection against fire. These materials are categorized into different types based on their specific characteristics, such as Fire-resistant boards, Sealants, Vermiculite cement sprays, Fiber sprays, Drylining systems, Mineral wool, and Intumescent paints & coatings. The utilization of fire protection materials varies across different sectors, including Commercial, Industrial & Institutional, Residential, and Others.
The market is being driven by the rising need for passive fire protection systems, which is driven by strict building codes and fire safety policies. The market is expected to grow as a result of the increasing adoption of these solutions for various types of constructions, as a result of the implementation of stringent safety regulations and building codes. Furthermore, the market is likely to be propelled in the future by the growing public awareness concerning the safety of residences and workplaces.
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The expansion of the fire protection material business has been negatively affected by the ongoing coronavirus outbreak, which has resulted in a halt in production and delays in significant construction projects worldwide. The imposition of national lockdowns by governments has limited transportation activity and further reduced the market size. Moreover, the future market expansion may face obstacles due to the declining demand for fire protection materials from various end-user sectors and the high cost of volatile raw materials. However, the global market share for fire prevention materials could be significantly influenced by the increase in residential construction projects and the implementation of swift immunisation programmes. Therefore, it is anticipated that the fire protection materials market will experience growth during the specified forecast period.
Delvens Industry Expert's Standpoint
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The fire protection materials market is anticipated to witness growth in the upcoming years due to the rising demand for passive fire protection systems, which is driven by strict building codes and fire safety policies. Moreover, the market is expected to receive a boost from the implementation of various official standards that aim to supervise and ensure the effectiveness of fire protection products. Furthermore, the market is projected to be fuelled by increasing public awareness regarding fire safety and the growing number of fire hazard incidents during the forecasted period. These factors have led to the expansion of the market and increased demand for Fire Protection Materials solutions.
Key Findings
• The Product segment is further fragmented into Adhesive and Sealant, Intumescent Coatings, Sheets and Boards, Foam, Putties, Sealants & Fillers, Yarns, Needle Punch Felt, Non-Woven Felt, Mortar, Fire Blocks, Cementitious Spray, Fire Safe Pipe Penetration and Others. The Adhesive and Sealant segment is expected to account for a larger market size during the forecast period. Adhesive and sealant products play a crucial role in fire protection by sealing gaps, joints, and penetrations in building structures, which helps prevent the spread of fire, smoke, and hot gases
• The Types of Fire segment is further bifurcated into Cellulosic Fires, Hydrogen Fires and Jet Fires. The Cellulosic Fires is the largest market during the forecast period. Cellulosic fires, which involve the combustion of materials containing cellulose, are common in residential and commercial settings. These fires produce moderate heat and low-intensity flames, allowing for safe escape and prompt response. Firefighters use water-based extinguishing agents to extinguish cellulosic fires by absorbing heat and cooling down the flames.
• The end user segment is further bifurcated into Residential, Commercial, Institutional and Infrastructure. Commercial segment to account for a larger market size during the forecast period. The demand for a passive fire protection system and fire safety codes are driving its use. Increased construction activities are due to increased capital expenditure on commercial centers. The growth of the retail industry will also impact the commercial application of this market.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America, the growing emphasis on passive fire protection systems influenced by fire-stop contractors and regulatory organizations has a huge impact on this market.
Fire Protection Materials Market Regional Analysis
North America to Dominate the Market
• North America is estimated to account for the largest market share during the forecast period. In North America, the growing emphasis on passive fire protection systems influenced by fire-stop contractors and regulatory organizations has a huge impact on this market.
• Moreover, the strong presence of the key fire-stopping and fire protection players is expected to boost the North American market growth.
Fire Protection Materials Market Competitive Landscape
• 3M
• Akzo Nobel N.V
• BASF SE
• Etex Group
• Henkel AG And Co. KGAA
• Morgan Advanced Materials
• Nippon Sheet Glass Co. Ltd.
• Ppg Industries Ohio, Inc.
• Rockwool Asia
• Saint Gobain S.A
• Schott Ag
• SVT Group of Companies
• Technologies Inc.
• The Sherwin-Williams Company
• Trelleborg AB
• Unifrax
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Fire Protection Materials Market Recent Developments
• In June 2022, Hempel A/S announced the launch of its protection material for the hydrocarbon PFP segment. Hempafire XTR 100 is a lightweight coating with low dry film thickness that will be used for the hydrocarbon passive fire protection of oil and gas downstream assets.
• In April 2022, Henkel announced the launch of two new fire protection coating products: Loctite FPC 5060 and Loctite EA 9400, which the company manufactured to protect electric vehicle batteries against fire and heat in the event of a thermal runaway. As stated, when applied to battery packs, the coatings would help to inhibit and delay the spread of fires to protect the passengers, thus giving them time to evacuate the vehicle.
Fire Protection Materials Market Reasons to Acquire
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Fire Protection Materials Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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