Fire Protection Materials Market

Fire Protection Materials Market Insights

The global fire protection materials market is expected to grow at a significant rate over the forecast period mainly due to the rising use of the product in construction industries due to the stringent fire safety regulations and building codes. This growth is mainlyattributed to  rising use of product in construction industries due to stringent fire safety regulations and building codes. Moreover, the growing awareness towards fire safety in workplaces and residences is anticipated to foster demand over the coming years.

However, increased cost of raw materials along with high cost associated with R&D of the product is likely to hinder the market growth over the years.

Fire Protection Materials Market: Type Insights

On the basis of type, the fire protection materials market is segmented into Sealants & Fillers, Mortar, Spray, Sheets/Boards, Putty, Preformed Device and Cast-in Devices among others. The Preformed Device is further segmented into Pillow, Wrap-Strips, Collars, Pu-Brick. The market for sealants & fillers is expected to occupy the highest share owing to its growing application in steel infrastructure. The rising adoption of sealants in walls and floors for protection against fire is also projected to foster market growth.

The market for putty is also projected to grow significantly over the forecast period. The increasing use of putty for protecting joints, cables and piping from fire is anticipated to stimulate market growth. Demand is expected to rise from North America and Asia Pacific.

Fire Protection Materials Market: Application Insights

Fire Protection Materials Market finds its application in Commercial Construction, Industrial Construction, and Residential Construction. The commercial construction segment is anticipated to occupy the highest share over the years due to  rising awareness related to the implementation of building codes in hospitals, universities, offices and so on.

The industrial and residential sector is also likely to grow at a healthy rate due to increased use of fire protection materials coupled with increasing population and industrialization Moreover, the rising net disposable income is also projected to stimulate the market growth.

Fire Protection Materials Market: Regional Insights

North America has occupied the largest share for this market since the past few years. This can be attributed to the growth in construction industry along with stringent regulations and codes related to fire safety in this region. The upgradation of existing buildings is also expected to stimulate the market growth.

Asia Pacific is projected to grow at a high CAGR on account of growing demand for the product by commercial construction and industrial sectors in countries such as India, China and South Korea.

Fire Protection Materials Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase fire protection material over the coming years. Some leading consumers of this market are Larsen & Toubro, Lanco Infratech, D.R. Horton Inc., Lennar Corp. and Ryland Homes.

Fire Protection Materials Market: Market Share & Competitor Analysis

The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Etex (Belgium), Isolatek International (The U.S.), Hilti Group (The U.S.), BASF SE (Germany),  Akzo Nobel N.V. (The Netherlands), Rolf Kuhn GmbH (Germany), Morgan Advanced Materials (U.K.), Specified Technologies Inc. (The U.S.), USG Corporation (The U.S.), Hempel Group (Denmark) and PPG Industries Inc. (The U.S.).

Please note: This is not an exhaustive list of companies profiled in the report.

In December 2017, the research foundation of the National Association of State Fire Marshals’ announced a Risk Evaluation Matrix a free risk evaluation tool. The matrix is expected to estimate the fire risks of buildings and other constructions on the basis of materials used, occupancy and so on.

In October 2017, scientists from Nanyang Technological University, Singapore (NTU Singapore) and JTC (Singapore's industrial developer) announced a product: a 3-in-1 paint that offers steel building prevention against fire along with corrosion protection.
The new coating can be applied to bare steel without sandblasting. It is expected to reduce the coating time by half, and will also protect the material against fire for two hours without falling off.

Check the Press Release on Fire Protection Materials Market Report