Global Fire Protection Materials Market Size to Touch USD 5.5 Billion by 2028

Published | 01 January 2023

Global fire protection materials market size is growing due to the application of stringent building codes and fire safety regulations, and increasing consumer awareness about fire safety across the countries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects global fire protection materials market size at USD 3.1 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size of global fire protection materials market to grow at a CAGR of 8.6%, reaching a value of USD 5.5 billion by 2028. Strict building codes and fire safety regulations are major factors driving the growth of the fire protection materials market. According to various official standards established to monitor and guarantee product effectiveness, the market is expected to grow in the coming years. Rising fire hazard incidents and increased public awareness of fire safety are expected to drive the market during the period in analysis.

Global Fire Protection Materials Market – Overview

Materials used to protect against fire are called fire protection materials. Both active and passive fireplace protection units are utilized in architectural and technological structures. While passive fireplace protection primarily aims to contain fires or slow their spread, active fireplace protection also includes automatic fireplace detection and suppression systems. The purpose of a fireside protection system is to maintain a building component's temperature (structural steel part, electrical installation) below the critical temperature during a fire, but it is also intended to temporarily contain a fireplace within the origin fire compartment.

The risk of a life-threatening fire increases when conditions and environments are concentrated. This has increased the demand for integrated and effective passive fire protection not only in buildings but also in other industries to reduce risk and protect human life, property, and the environment. Modern building frameworks are interspersed with numerous utility and network services, such as cables, pipes, and ventilation ducts, in both horizontal and vertical directions, resulting in numerous penetrations through the majority of the walls and floors. These passive fire-protectant materials are also needed by the oil and gas, petrochemical, and power generation sectors in addition to the construction sector. Workers in the petrochemical and oil and gas industries are at great risk from unintentional fire outbreaks.

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Opportunity: Increasing number of construction projects

It is expected that new building developments, both residential and commercial, will present new opportunities for installing fire alarm and detection systems. Commercial and industrial areas heavily rely on fire protection systems for employee safety. Additionally, a rise in the number of property losses brought on by fire incidents is driving the market. The rules, specifications, and codes imposed by various regulatory bodies also have an impact on the market for fire protection systems. Businesses have been forced to install fire suppression systems due to the rising standard. Throughout the projection period, these factors should accelerate market growth.

Challenge: Fluctuations in raw material prices

Several factors, including fluctuating raw material prices, are expected to impede the growth of the global market for fire protection materials. A finished product that has undergone extensive research and development costs more money. Many consumers—particularly those in developed and underdeveloped countries—cannot afford them because of price increases.

Impact of COVID-19 on Global Fire Protection Materials Market

Due to the rise in COVID-19 cases brought on by the second wave of the outbreak, a partial lockdown was observed in several countries. As a result, the production of new fire protection systems was further decreased. The market suffered as a result of the supply chain disruption that took place in various countries and regions. But after the pandemic, the market for fire protection is expected to grow. Due to the expanding urban population and the need to safeguard people and the environment from potential fire emergencies, it is forecast that the demand for fire protection systems will rise.

Global Fire Protection Materials Market – By End User

According to end user, global fire protection materials market is segmented into the following sectors: Building & Construction (Residential, Commercial, Industrial, and Infrastructural), Transportation (Automotive, Locomotive, Aerospace, and Marine), Electrical & Electronics, Oil & Gas Industry, and Others. The commercial segment, which includes building and construction, holds the majority of the market. The commercial application segment includes applications for retail, BFSI, government, healthcare, telecom, and IT educational institutions. The need for fire protection systems in commercial applications is growing because of the establishment of stringent government regulations for fire prevention and control around the world. To reduce the loss of life and property and to safeguard the infrastructure, businesses are also anticipated to increase their investments in fire protection systems.

Competitive Landscape

Global fire protection materials market is fiercely competitive. Prominent players in global fire protection materials market include 3M, AkzoNobel NV, BASF SE, Contego International Inc., ETEX SA, Fire Protection Coatings Limited, Hempel AS, Isolatek International, Morgan Advanced Materials, PPG Industries Inc., RectorSeal Corporation, Rolf Kunh GmbH, Sika AG, Tenmat Ltd, The Hilti Group, The Sherwin-Williams Company, Tremco Incorporated, USG Corporation, and W.R. Grace & Co. These leading companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global fire protection materials market.

Don’t miss the business opportunity in the Global Fire Protection Materials Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Fire Protection Materials Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Fire Protection Materials Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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