Fire Protection Materials Market

Fire Protection Materials Market Size (2023-2028)

The fire protection materials market is predicted to reach USD 5.5 billion in 2028, with a CAGR of 8.9%. The rising call for passive fire protection systems is driving the industry for fire protection materials. North America is the leading market for fire protection materials worldwide, followed by Europe and the APAC region. Fire protection materials are employed to resist or resist fire. Fire protection materials are employed to lessen the effects of a devastating fire by minimizing damage to the human body or the building structure. These active fire protection materials require action or movement to function, like fire extinguishers employed by firefighters. Passive fire protection materials are installed in buildings such as floors, firewalls, and fire doors.

Fire Protection Materials Market Trends:

The market has immense expansion potential as they have the ability to partially replace traditional building materials such as sealants, caulks, and coating sprays. There are also several official standards set to bypass and ensure the effectiveness of the product. Sealants have been the largest type segment and will continue to do so throughout the foreseen period. Fire protection sealants can be employed where wall joints have a high capacity for movement, which is one of their main advantages. The escalating use of sealants to protect steel structures against fire is predicted to further stimulate the market.

Fire Protection Materials Market Drivers:

The escalating call for advanced fire safety standards in the commercial and residential construction industry is a major factor that is predicted to drive market expansion. The escalating adoption of passive fire protection materials in residential buildings by regional governments is predicted to drive expansion in this market over the next five years. The escalating use of passive fire protection products in the oil and gas industry to prevent structural damage in explosive fire accidents is also predicted to drive market expansion over the next eight years. Furthermore, an increase in the call for fire protection products that can provide protection for a longer period is predicted to positively affect the call for passive fire protection materials during the foreseen period. . Furthermore, the increase in the call for fire protection products that can last longer is likely to reflect positively the call for passive fire protection materials in the coming years. Furthermore, the fire resistance of steel structures using water-based intumescent paints and coatings and the escalating use of carbon fiber-reinforced composites that require reactive insulating coatings for fire protection are rising market trends. , which are driving calls for water-based intumescent paint coatings such as a fire. protective materials. Additionally, oil and gas refineries have seen an increase in the adoption of fire protection materials in recent times, which in turn has led to an expansion in the call for fire protection materials.

Fire Protection Materials Market Restraints:

Fluctuating raw material prices are a major factor that is predicted to hamper the expansion of the worldwide market for fire protection materials. In addition, extensive research and development increase the cost of selling the final product. This increase in prices makes them unaffordable for a considerable part of consumers, especially those in underdeveloped and developing countries.

Opportunities in the Fire Protection Materials Market:

The escalating call for premium fire protection materials in developing countries is due to strict regulations implemented by government agencies such as Leadership in Energy and Environmental Design (LEED) to protect human health and the environment. environment, it is predicted to generate various opportunities for players operating in the market during the next ten years. There have been technological advancements in the cost-effective manufacturing of fire protection materials in recent times. Also, there is a rapid improvement in the desired properties due to the advanced characteristics of fire protection materials. Apart from this, various regulatory bodies have imposed strict regulations for the implementation of fire safety procedures, as well as the development of strict building and safety codes. These regulations force organizations to adhere to fire safety specifications in the workplace, which in turn is predicted to further increase the call for fire protection materials. These factors have driven the expansion of the fire protection materials market worldwide and the trend is also predicted to continue in the near future.

FIRE PROTECTION MATERIALS MARKET REPORT COVERAGE:

Challenges in the Fire Protection Materials Market:

Fluctuating commodity prices and the slowdown in the world economy may pose a threat to the world market for years to come.

Fire Protection Materials Market Segmentation:

By Type:

• Coatings
• Sealants and fillers
• Mortar
• Sheets/boards
• Spray
• Preformed device
• Putty
• Cast-in devices

Coatings are believed to be market leaders. This is due to its flame-retardant application in the construction industry. The expansion of steel consumption plays an important role in the call for coatings in the construction industry. The market by type is greatly affected by the expansion of the construction industry worldwide.

By Application:

• Commercial
• Industrial
• Residential

On the basis of application, Commercial construction is predicted to dominate the industry for fire protection materials throughout the foreseen period. The growing call for a passive fire protection system and the escalated emphasis on fire safety codes and regulations are driving this.

Fire Protection Materials Regional Analysis:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The North American fire protection materials market is predicted to account for a significant share in terms of revenue in 2020, and is predicted to continue to dominate during the foreseen period, due to escalated spending from regional governments. for general infrastructure safety and the growing adoption of fire protection materials in the industrial, residential and commercial construction sectors. The worldwide Asia-Pacific fire protection materials market is predicted to experience the fastest expansion in terms of revenue between 2020 and 2025. The growing call from various industries, such as construction, automotive, manufacturing, and warehousing, especially in India and China, further drive the expansion of the worldwide fire protection materials market in this region. North America is likely to be one of the largest regional markets for these products in terms of volume and value, for reasons such as strict government codes regarding pyrotechnic safety and upgrading of existing infrastructure. in accordance with new laws and the expansion of the construction industry. The Middle East and Africa are also likely to have a substantial share in this market due to rapid urbanization and industrial development. Growing disposable income, along with knowledge of fireworks safety measures, will drive the market in this region. The FIFA World Cup in Qatar in 2025 will boost the construction industry in the Middle East, which in turn will drive market expansion.

Recent Developments in the Fire Protection Materials Market:

• CIN launches fire protection products for steel structures. The technology present in the C-THERM range increases the safety of structures, postponing the collapse time in the event of a fire, and saving lives, and property.
• AkzoNobel launches a new fire protection system for wooden facades. Protecting the wooden facades of buildings against fire has become easier and more efficient with the launch of a new cladding system specially designed by AkzoNobel.

Fire Protection Materials Market Key Players:

1. Sherwin Williams Company

2. Hempel A/S

3. 3M Company

4. Nippon Paint Co. Ltd

5. Akzo Nobel N.V

6. BASF Coating GmbH

7. Rolf Kuhn GmbH

8. PPG Industries Inc.

9. Svt Holding GmbH

10. Hilti Group

11. Isolatek International

12. Termo Incorporated

13. Rectorseal

14. Morgan Advanced

15. Contego International Inc

16. Pilkington Group Ltd, etc