Know More About “Passive Fire Protection Market 2019-2025” Growth Worldwide…..|Grand View Research, Inc.



The global passive fire protection market size is expected to reach USD 5.17 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.1% over the forecast period. Increasing exploration activities in the global oil & gas industry is likely to boost the market growth. Prevalence of high-risk environment owing to the presence of explosive and highly flammable compound in oil & gas production makes the use of a passive fire protection system extremely important, thereby augmenting the product demand.
In addition, rising shale gas exploration activities in U.S. is expected to drive the demand over the forecast period. Rising consumer awareness regarding safety has led to the increased investments in the installation of protection systems in commercial as well as residential buildings. Furthermore, growing incidents of fire accidents have led the governments across the globe to emphasize on improving the safety aspects of the existing and upcoming infrastructures, thereby driving the passive fire protectionmarket growth. Rapidly expanding global construction sector coupled with increasing urbanization in emerging economies is expected to propel market growth further.
Moreover, widespread use of the materials in construction and manufacturing industries is estimated to drive the industry further. U.S. accounted for the largest share of the North America regional market on account of extensive usage of passive fire protection products in aerospace, construction, oil & gas, warehousing, and manufacturing industries in the country. Rising exploration activities in the oil & gas industry along with increasing shale gas production in U.S. is expected to propel the market growth further.
The industry is characterized by the presence of a large number of local as well as global companies. Key companies are heavily investing in R&D and product differentiation to gain increased market share. Furthermore, these companies have increased their focus on integration across the value chain from raw material manufacturing to product distribution to gain a competitive advantage over small-scale firms. Some of the prominent companies in the market are Lloyd Insulations (India) Ltd., The 3M Company, Sharpfibre, Sherwin-Williams Company, and Nullifire.
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Furthermore, rapid growth of the construction sector coupled with large-scale infrastructure developments in emerging countries, such as India and Thailand, is expected to have a positive impact on the market. Growing demand for fire-safe and energy-efficient infrastructure is also projected to contribute to the market expansion over the forecast period. Fly ash and Ground Granulated Blast-furnace Slag (GGBS) are the key raw materials used in the production of cementitious materials, which offer cost-efficient and better fire protection solution.
Further key findings from the study suggest:
·         Cementitious materials accounted for a market share of 42.3% in 2018 and is projected to be the largest segment on account of the condensation control property of these materials
·         Product demand in the construction industry was valued at USD 1.35 billion in 2018 owing to increased construction activities along with the need for energy-efficient and safer infrastructures
·         Asia Pacific was the largest regional market and is estimated to maintain its dominance in future due to high product demand from construction, industrial, and warehousing sectors of China and India
·         The market in U.S. is expected to witness a significant growth over the forecast period on account of stringent government regulations regarding fire safety
·         Integration across the value chain, development of new manufacturing technologies, and introduction of innovative products are the key success factors for the manufacturers of protection products
Sodium silicate and graphite are used for manufacturing intumescent coatings, which are suitable for fireproofing exterior steel structures, as well as for PVC and uPVC pipes. Constant innovations in material technology for developing highly-efficient passive fire protection products are expected to impel the industry growth. In addition, rising product demand for better thermal and acoustical insulation along with decorative visual appearance is expected to open new growth avenues for the market.
On the basis of raw materials and their characteristics, these coatings are categorized into epoxy-, solvent-, and water-based coatings. Solvent-based intumescent coatings are decorative-grade thin films manufactured from acrylic resin that are used to achieve an attractive surface finish. Fireproofing cladding materials include fire boards, curtains, seal bags, putty pads, foams, cable coatings, pipe collars, wraps. The segment accounted for a market share of 24.1% in 2018. Growing demand for different colors, patterns, and textures to improve the aesthetic and visual appearance of walls by sealing the openings and gaps is expected to propel the segment growth over the forecast period.
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Grand View Research has segmented the global passive fire protection market on the basis of product, application:
Passive Fire Protection Product Outlook (Revenue, USD Million, 2014 - 2025)
·         Cementitious Material
·         Intumescent Coating
·         Fireproofing Cladding
·         Others
Passive Fire Protection Application Outlook (Revenue, USD Million, 2014 - 2025)
·         Oil & Gas
·         Construction
·         Industrial
·         Warehousing
·         Others
Construction industry accounted for the largest market share in 2018 and is projected to maintain the dominance even during the forecast years. This growth is attributed to the increasing number of residential and commercial construction projects along with rising consumer awareness regarding fire safety. In addition, stringent regulations about fire safety have mandated the product usage, which is likely to have a positive impact on market development. The global industrial sector is expected to witness a significant growth, in terms of product demand, on account of rising cases of fire accidents in the manufacturing, power, and steel industries. Stringent regulations in North America and Europe regarding industrial fire safety are further expected to drive the segment.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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