According to the latest report by IMARC Group, “Global Fire Protection Materials Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global fire protection materials market reached a value of US$ 5.95 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.46 Billion by 2027, exhibiting a CAGR of 7.80% during 2022-2027.
Fire protection refers to the measures undertaken to prevent the outbreak and spread of fires to save the lives and properties of individuals. It consists of safety planning practices and drills, safe operations, providing education on fire risks and safety, conducting research and investigations, training and testing of mitigating systems, etc. Fire protection materials are of several types, including coatings, sealants, fillers, mortar, sprays, sheets, boards, etc. They aid in securing business processes and valuable goods while retaining access to protected areas. As a result, fire protection materials find widespread applications in commercial, industrial, and residential establishments across countries.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Fire Protection Materials Market Trends and Drivers:
The escalating concerns towards human and property loss owing to fire accidents and the expanding construction industry are primarily driving the fire protection materials market. Besides this, the implementation of stringent regulations by government bodies to promote the usage of these materials in residential and non-residential buildings and the rising requirement for the same in the oil and gas industry are further augmenting the market growth.
Apart from this, the elevating need for security codes in buildings regarding fire safety is also catalyzing the global market. Moreover, the inflating popularity of fire protection materials in passenger and heavy-duty vehicles is acting as another significant growth-inducing factor.
Furthermore, the leading market players are extensively investing in research and development (R&D) activities to produce materials that produce less smoke while burning and can withstand fire for more extended periods. This is expected to bolster the fire protection materials market in the coming years.
Global Fire Protection Materials Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
3M Company, Akzo Nobel N.V., BASF SE, Etex Group, Hilti, Morgan Advanced Materials plc, PPG Industries Inc., Sika AG, Tenmat Limited (Diamorph AB (publ)), The RectorSeal Corporation (CSW Industrials Inc.), The Sherwin-Williams Company and Tremco Incorporated (RPM International Inc.).
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The report has segmented the market on the basis of region, material type, distribution channel and application.
Breakup by Material Type:
• Coatings
• Sealants and Fillers
• Mortar
• Sheets/Boards
• Sprays
• Putty
• Preformed Devices
• Others
Breakup by Distribution Channel:
• Online
• Offline
Breakup by Application:
• Commercial
• Industrial
• Residential
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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