Fire Protection Material Market Current Trends, Opportunities and Growth Challenges by 2027
The global Fire Protection Material Market for Construction forecasted to grow at a rate of 7.3% in terms of value, from USD 4.89 billion in 2019 to reach USD 8.62 billion by 2027. Increasing the use of products for different forms of construction is expected to drive market growth over the forecast period, due to the implementation of strict safety regulations and building codes. Moreover, growing public concern about residential and occupational health is expected to propel the demand in the coming years.
Materials for fire protection delay the spread of flames, toxic fumes, and smoke, and give people much-needed time to evacuate. Also, it allows fire engines and more time for staff to conduct emergency operations. The market has tremendous growth potential as they are capable of partially replacing conventional building materials such as sealants, putty sprays, and coating sprays. There are also various official guidelines set for overlooking and ensuring the quality of the product.
Top Companies Operating in the Global Fire Protection Material Market:
3M, BASF Coating GmbH, Nippon Paint Co. Ltd., Hempel A/S, Pilkington Group Ltd., PPG Industries Inc., Morgan Advanced Materials, Hilti, Akzo Nobel N.V, and Rectorseal
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The Fire Protection Material market investigation report assesses the global market for the Fire Protection Material industry and provides revenue and capability forecasts for the projected period of 2027. The factors that drive the industry’s growth are highlighted in the report. The report divides the Fire Protection Material market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry’s major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and market size, geographic presence, and development and manufacturing capabilities.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of “in silico” simulations. Companies’ existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
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The Fire Protection Material market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Fire Protection Material market.
The global Fire Protection Material market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Active fire protection materials
- Passive fire protection materials
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
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