Fire Protection Materials Market Analysis | 2022-2028

Market Insights

The fire protection materials market was estimated at USD 3.33 billion in 2021 and is likely to grow at a CAGR of 8.27% during 2022-2028 to reach USD 5.85 billion in 2028.

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Market Dynamics

Introduction

Fire Protection Materials are those that are resistant to fire or also can have the properties of flame retardant. They can either resist burning or can burn but much slower. Fire Protection materials can be of various types such as sealants & fillers, mortar, sheets & boards, sprays, preformed devices, putty, cast-in devices, and others. Commercial, industrial, and residential are some of the application areas where fire protection materials are used.

Market Drivers

Expanding the construction & infrastructure industry along with the implementation of stringent regulations & codes are the major factors that are expected to drive the fire protection materials market globally.

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Key Players

The following are the key players in the fire protection materials market:

• Akzo Nobel N.V.
• BASF SE
• Fire Protection Coatings Limited
• Hilti Corporation
• Hempel Group
• Isolatek International
• Morgan Advanced Materials
• PPG Industries Inc.
• Specified Technologies Inc.
• The 3M Company
• The Sherwin-Williams Company
• Tremco Incorporated
• USG Corporation

Segment Analysis

By Product Type

"Sealants & fillers segment dominated the fire protection materials market"

Based on the product type, the market is segmented as sealants & fillers, mortar, sheets/boards, sprays, preformed devices, putty, cast-in devices, and others. The sealants & fillers segment dominated the fire protection materials market. However, the fire protection putty segment is estimated to register the highest growth during the forecast period.

By Application Type

"Commercial segment is expected to witness the highest growth during the forecast period"

Based on the application type, the market is segmented as commercial, industrial, and residential. The commercial segment is expected to witness the highest growth during the forecast period owing to the stringent regulations and policies regarding fire safety in organizations, such as schools, hospitals, hotels, and museums.

Regional Analysis

"North America led the market and is expected to remain dominant during the forecast period"

In terms of regions, North America led the market for fire protection materials and is expected to remain dominant during the forecast period. Europe is the second-largest market after North America. Revival of the construction industry in North America and Europe after sub-prime crises and Euro debt crises along with the implementation of stringent regulations and codes regarding fire safety are the major factors driving the demand for fire protection materials in these regions. Asia-Pacific is expected to be the fastest-growing market for fire protection materials during the forecast period. China, India, and South Korea are the growth engines of the region. Significant economic development in the region, rising urbanization, and increasing disposable income of consumers are the major factors driving the growth of the Asia-Pacific region in the global fire protection materials market.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fire protection materials market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The fire protection materials market is segmented into the following categories. 

By Product Type

• Sealants & Fillers
• Mortar
• Sheets/Boards
• Sprays
• Preformed Devices
• Putty
• Cast-In Devices
• Others  

By Application Type

• Commercial
• Industrial
• Residential

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com