The global passive fire protection market value stood at USD 5,023.2 million in 2014 owing to rising demand for improved fire safety standards from residential and commercial buildings.
According to MarketIntelReports' “Global Passive Fire Protection Materials Sales Market Report 2017”:
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Passive fire protection has the ability to slow down the spread of heat and smoke. The growing demand for longer duration fire protection materials augments the demand for Passive Fire Protection Materials Market.
Regional governments are looking forward to deploy such products in the future. The growing usage of fire barrier in the oil and gas industry will prevent structural damage in case of explosive fire accidents.
Growing demand for the product will have a positive impact on the market in the near future. It is used in applications like Aerospace and Defence, Construction and Oil & Gas.
Scope & Regional Forecast of the Passive Fire Protection Materials Market
Increasing fire safety regulations, growing awareness about fire safety, and growth in the construction activities will propel the demand of the Fire Protection Materials Market. However, environmental health concerns will inhibit the demand of passive fire proofing.
The demand for the fire protection products in emerging countries and development of synergist compounds are some of the opportunities for the market.
North America has the largest share in the market followed by Europe. This is due to the increasing demand of enhanced fire safety in buildings, established industrial sectors, and government regulations controlling the use of firestop systems in commercial and residential applications.
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Asia Pacific will have a high growth due to increasing demand of fire protection solutions from different end user industries. Economies like India and China will have a bigger share in the market due to the increasing construction activities, growing disposable income and awareness about fire safety.
The growing use of cementitous material on a steel structure for providing thermal and acoustic insulation will the drive the growth of the fire protection solutions during the forecast period. Fire protection materials are also used in fireproof cladding in the construction industry.
Segmentations & Key Players Involved in the Passive Fire Protection Materials Market
The Passive Fire Protection Materials Market can be broken down into various segments as follows:
- Type- Type I and Type II.
- Application- Application 1 and Application 2.
- Region- United States, China, Europe, Japan, Southeast Asia, and India.
Some of the key players involved in the Passive Fire Protection Materials Market are as follows:
- C H Materials
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